Local Equities Market
For the week ending December 8, 2023, the local stock market, measured by the Combined Index, declined by 1.14%. The Main Market Index declined by 1.10%, the Junior Market Index declined by 1.50%, and the JSE USD Equities Index advanced by 1.66%. During the week, Caribbean Cream Limited was the largest gainer, rising by approximately 19.03% to close at $3.69. Ciboney Group Limited was the biggest decliner, which fell by 29.38% to close at $1.13.
Large-cap stocks, reflecting those listed on the Main Market Index are underperforming on a YTD basis, declining by 12.28%, relative to its Junior Market counterpart which has declined by 7.17%.
For the week ending December 8, 2023, overall Market activity resulted from trading in 124 stocks of which 46 advanced, 65 declined and 13 traded firm. Market volume amounted to 71,548,341 units valued at over $453,936,288.99. TransJamaican Highway Limited was the volume leader with 9,016,815 units (12.48%), followed by Wisynco Group Limited with 8,367,325 units (11.58%), and by Spur Tree Limited with 7,256,808 units (10.04%).
Revisiting relevant news during the week:
SOS acquires additional warehousing property to meet
Stationery and Office Supplies Limited (SOS) has spent $100 million to acquire a new warehousing property in a bid to meet its growing product range for the local and export market.
SOS acquires additional warehousing property to meet rising demand
FirstRock eyes 2024 handover of Hambani units
The luxurious Hambani Estates residential project, being developed by FirstRock Real Estate Investments Ltd in Liguanea, St Andrew, should be fully handed over and occupied by the end of the first quarter of next year, its developers have indicated.
FirstRock eyes 2024 handover of Hambani units
Mailpac targets June 2024 for first acquisition
Courier company Mailpac Group Limited is close to executing its first inorganic growth move.The company, which was formed in 2019 as a vehicle to acquire related companies Mailpac Services Limited and Mailpac Local, began acquisition talks from 2020 when it announced plans to acquire an e-commerce platform that would catapult its growth within the Caribbean region.
Mailpac targets June 2024 for first acquisition
Sygnus Credit generates record revenue, interest rates drag bottom line
Despite Sygnus Credit Investments Limited (SCI) generating record net interest income of US$2.13 million ($327.51 million), fair value losses from its Puerto Rican Fund dragged its bottom line by 54 per cent to US$744,834 in the first quarter.
Sygnus Credit generates record revenue, interest rates drag bottom line
Microcredit institutions face approval delays
financial institutions seeking licensing are grappling with prolonged wait times for the approval of their licensing applications – a result of the new regulations implemented in 2021 to combat scams and money laundering. While these regulations are crucial for the industry, entities aiming to comply are facing an exhaustive application process.
Microcredit institutions face approval
Guyana’s economy to double again in four years
Data from the International Monetary Fund (IMF) suggest the Guyanese economy is set to double its 2022 level in the next four years, due largely to continued strong growth from that country’s oil sector.
Guyana’s economy to double again in four years
| Unit Trust Fund | 06/12/2023 | 29/11/2023 | Week/Week Return | Year-to-Date Return | 1 Year Return | Yield |
|---|---|---|---|---|---|---|
| Capital Growth | 74.71 | 73.97 | 1.00% | -22.03% | -17.21% | - |
| Money Market | -17.21% | 16.1937 | 0.03% | 4.27% | 4.52% | 4.97% |
| Income Portfolio | 100.00 | 100.00 | -0.00% | - | - | 5.46% |
| FX Bond Portfolio (US$) | 1.4136 | 1.4136 | 0.06% | 5.42% | 5.54% | 5.01% |
| Real Estate Portfolio | 12,685.27 | 12,677.32 | 0.06% | 59.83% | 143.06% | - |
| FX Growth Portfolio | 0.89 | 0.89 | -0.20% | 4.82% | 2.99% | - |
| FX Income Accumulator | 1.008 | 1.0132 | -0.51% | 0.67% | - | 2.81% |
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