Local Equities Market
For the week ending April 5, 2024, the local stock market, measured by the Combined Index, declined by 0.61%. The Main Market Index declined by 0.42%, the Junior Market Index declined by 2.82%, and the JSE USD Equities Index declined by 1.53%. During the week, Iron Rock Insurance Limited was the largest gainer, rising by approximately 17.29% to close at $2.51. The Limners and Bards Limited was the biggest decliner, which fell by 25.14% to close at $1.34.
Large-cap stocks, reflecting those listed on the Main Market Index are overperforming on a YTD basis, increasing by 0.22%, relative to its Junior Market counterpart which has declined by 2.12%.
For the week ending April 5, 2024, overall market activity resulted from trading in 124 stocks of which 42 advanced, 68 declined and 14 traded firm. Market volume amounted to 640,795,436 units valued at over $2,320,110,257.72. TransJamaican Highway Limited was the volume leader with 547,556,561 units (85.28%), followed by General Accident Insurance Company Limited with 16,375,943 units (2.55%), and by Wigton Windfarm Limited 15,862,376 units (2.47%).
Revisiting relevant news during the week:
Lasco Manufacturing and Distributors now main market companies
After spending 13 years on the Junior Market of the Jamaica Stock Exchange (JSE), affiliate companies Lasco Manufacturing (LASM) and Lasco Distribution (LASD) recently migrated their listed ordinary shares to the Main Market.
Lasco Manufacturing and Distributors now main market companies
GK developing authentic flavoured water
The GraceKennedy Group (GK), in search of growth for its bottled water business, said it is now looking at a range of authentic Jamaican fruit-flavoured water products with which it hopes to whet the palate of consumers.
GK developing authentic flavoured water
PBS acquiring Xerox Peru and Ecuador operations
Productive Business Solutions Limited (PBS) is set to acquire Xerox Holdings Corporation’s businesses in Peru and Ecuador later this year as Xerox undergoes a reorganisation to simplify its operations and improve its profitability.
PBS acquiring Xerox Peru and Ecuador operations
Ivari acquisition pushes Sagicor to record profit
Sagicor Financial Company Limited (SFC) generated a historic US$584.23 million (J$89.73 billion) in consolidated net profit during 2023 which was driven by the contribution of Ivari to its fourth-quarter performance
Ivari acquisition pushes Sagicor to record profit
MPC Caribbean reorganisation on track for third quarter
MPC Caribbean Clean Energy Limited (MPCCEL) shareholders can look to the second half of 2024 for the company’s reorganisation to be complete and see the direct financial contribution of the renewable energy assets.
MPC Caribbean reorganisation on track for third quarter
Dolla jumps ship from Guyana
Following its 2.5-year stint in Guyana, Dolla Financial Services Limited will be winding up operations there as it looks to reallocate resources to Jamaica and walk away from the geopolitical instability caused by Venezuela’s claim on the Essequibo region of Guyana.
Dolla jumps ship from Guyana
JMB divestment on track
The Development Bank of Jamaica (DBJ) is seeking a strategic investor for the planned privatisation of Jamaica Mortgage Bank (JMB) through the sale of its shares to the general public within the next year.
JMB divestment on track
| Unit Trust Fund | 03/04/2024 | 28/03/2024 | Week/Week Return | Year-to-Date Return | 1 Year Return | Yield |
|---|---|---|---|---|---|---|
| Capital Growth | 77.89 | 78.78 | -1.13% | -3.29% | -3.03% | - |
| Money Market | 16.4219 | 16.4332 | -0.07% | 0.80% | 5.14% | 5.40% |
| Income Portfolio | 100.00 | 100.00 | - | - | - | 6.08% |
| FX Bond Portfolio (US$) | 1.4537 | 1.4530 | 0.05% | 2.09% | 6.89% | 4.60% |
| Real Estate Portfolio | 12,580.95 | 12,574.70 | 0.05% | -0.06% | 3.33% | - |
| FX Growth Portfolio | 1.0423 | 1.0512 | -0.85% | 9.34% | 18.59% | - |
| FX Income Accumulator | 1.0157 | 1.0165 | -0.08% | 0.07% | 0.56% | 3.01% |
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