Local Equities Market
For the week ended December 23, 2022, the local stock market as measured by the Combined Index advanced by 1.68%. The Main Market Index advanced by 1.83%, the JSE Junior Market Index advanced by 0.38%, and the JSE USD Equities Index advanced by 9.16%. During the week, Iron Rock Insurance Company Limited was the largest ordinary equity gainer, rising by approximately 30.56% to close at $12.35. The biggest decliner was Palace Amusement Co. Ltd, which fell by 24.59% to close at $1,171.03. Small-cap stocks, reflecting those listed on the Junior Market Index have outperformed, growing by 14.00%, outpacing its Main Market counterpart which has declined 12.92%. It must be noted that the Junior market has retreated substantially from the highs achieved during the summer. For the week ended December 23, 2022, overall market activity resulted from trading in 127 stocks, of which, 51 advanced, 64 declined and 12 traded firm. Market volume amounted to 263,585,571 units valued at over $1,630,801,612.59. Fosrich Company Limited was the volume leader with 55,093,698 units (20.77%), followed by Radio Jamaica Limited with 40,605,765 units (15.31%) and Wigton Windfarm Limited Ordinary Shares with 35,141,433 units (13.25%).
Revisiting relevant news during the week:
Salada brews positive year-end results Salada Foods Jamaica Limited at the end of its financial year ended September saw increased revenues and profits despite what its directors have labelled to be continued inflationary
pressures on its business.
Salada brews positive year-end results
Massy launches US$140 million bid for IGL
Massy Holdings has announced its intention to acquire IGL, using its Massy Gas Products Holdings subsidiary to effect the deal. The Trinidad-based company said its board on Monday approved the acquisition of IGL for US$140.3 million through a share purchase agreement with the entity’s parent company, Caribbean Petroleum Marketing Limited (CPML).
Massy launches US$140-m bid for IGL
GKOne introduces debit card for remittances
GraceKennedy said this week that its offer of the new GKOne app and card to all Western Union customers in Jamaica has seen responses in the thousands.
GKOne introduces debit card for remittances
MoneyGram claims bigger slice of money transfer market in Jamaica
Robert Dinkins, head of Caribbean region MoneyGram International, indicates to the Jamaica Observer that market share in Jamaica has been growing MoneyGram claims bigger slice of money transfer market in Jamaica
Done deal! Shareholders approve JP, PanJam merger
Shareholders of Jamaica Producers Group Limited (JP Group) and
PanJam Investment Limited gave their stamp of approval last Thursday to the proposed merger of the entities as they voted in
favour of the various resolutions at the respective extraordinary general meetings (EGM)
Done deal! Shareholders approve JP, PanJam merger
Rate hike pause
The Bank of Jamaica has kept its policy interest rate unchanged for the first time since its August 2021 monetary policy committee (MPC) meeting, citing a “generally favourable” inflation outlook after 14 months of matching red hot price increases with feverish
Rate hikes Rate hike pause
| Unit Trust Fund | 21/12/2022 | 14/12/2022 | Week/Week Return | Year-to-Date Return | 1 Year Return | Yield |
|---|---|---|---|---|---|---|
| Capital Growth | 90.71 | 89.91 | 0.89% | -1.36% | 3.58% | - |
| Money Market | 15.5153 | 15.5089 | 0.04% | 1.91% | 1.66% | 4.29% |
| Income Portfolio | 100.00 | 100.00 | - | - | - | 4.70% |
| FX Bond Portfolio (US$) | 1.3403 | 1.3402 | 0.01% | -2.76% | -2.29% | 3.83% |
| Real Estate Portfolio | 5,204.15 | 5,215.92 | -0.23% | 881.79% | 926.57% | - |
| FX Growth Portfolio | 0.8527 | 0.8710 | -2.10% | -21.19% | -20.45% | - |
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