Local Equities Market
For the week ending February 07, 2025, the local stock market, measured by the Combined Index, declined by 1.36%. The Main Market Index declined by 1.32%, the Junior Market Index declined by 1.82% and the JSE USD Equities Index declined by 2.06%. During the week IronRock Insurance Company Limited was the largest gainer, rising by approximately 17.98% to close at $4.20. First Rock Real Estate Investments Limited (USD) was the biggest decliner, which fell by 27.54% to close at $0.03.
Small-cap stocks, reflecting those listed on the Junior Market Index are outperforming on a YTD basis, declining by 0.47%, relative to its Main Market counterpart which has declined by 1.78%.
For the week ending February 07, 2025, overall market activity resulted from trading 125 stocks of which 41 advanced, 74 declined and 10 traded firm. Market volume amounted to 107,143,442 units valued at over
$623,109,145.34. Key contributors to trading volume are Kintyre Holdings (JA) Limited with 13,847,006 units (12.58%), followed by TransJamaican Highway Limited with 12,919,092 units (11.73%) and Wigton Energy Limited with 10,745,562 units (9.76%).
Revisiting relevant news during the week:
Jamaica’s alumina exports surge, but trade challenges persist
Jamaica’s alumina exports increased by 25.9 per cent to US$447.3 million during the first nine months of 2024, helping to mitigate significant declines in other export categories.
Jamaica’s alumina exports surge, but trade challenges persist
Securities dealers under pressure
Amidst the continued pressure from higher interest rates, a member-dealer/broker of the Jamaica Stock Exchange (JSE) found itself in breach of the excess net free capital (ENFC) requirement in August 2024.
Securities dealers under pressure
Scotiabank addresses fraud allegations
While confirming an ongoing fraud attempt affecting debit card holders, Scotiabank is insisting that the issue is not widespread.
Scotiabank addresses fraud allegations
CPJ directors recommend takeover bid
The board of Caribbean Producers (Jamaica) Limited (CPJ) have recommended that existing CPJ shareholders accept the takeover bid by majority shareholder A S Bryden & Sons Holdings Limited (ASBH).
CPJ directors recommend takeover bid
Massy Holdings selling Jamaican distribution business
Massy Holdings Limited has signed an agreement with Caribbean Distribution Partners Limited (CPDL) to sell its interest in Massy Distribution (Jamaica) Limited (MDJL) as it continues to realign its strategy in a bid to generate US$4 billion in revenue by 2030.
Massy Holdings selling Jamaican distribution business
Innovative Energy plans US$5-m capital raise
Innovative Energy Group Limited (IEG), formerly Ciboney Group Limited, has reported a turnaround in its financial performance for the second quarter ended November 30, 2024, posting a consolidated profit of $12.3 million compared to a $3.8-million loss in the same period of 2023. This improvement follows the acquisition of its subsidiary, Innovative Energy Company Limited (IECL), which contributed to the group’s revenues and profits through its renewable energy operations.
Innovative Energy plans US$5-m capital raise
| Unit Trust Fund | 06/02/2025 | 30/01/2025 | Week/Week Return | Year-to-Date Return | 1 Year Return | Yield |
|---|---|---|---|---|---|---|
| Capital Growth | 78.17 | 79.23 | -1.34% | -4.27% | 1.82% | - |
| Money Market | 17.5132 | 17.3690 | 0.83% | 2.26% | 6.94% | 5.29% |
| Income Portfolio | 100.00 | 100.00 | - | - | - | 4.99% |
| FX Bond Portfolio (US$) | 1.4885 | 1.4873 | 0.08% | 0.22% | 3.50% | 4.83% |
| Real Estate Portfolio | 17,548.07 | 17,537.26 | 0.06% | 0.91% | 38.27% | - |
| FX Growth Portfolio | 1.2653 | 1.2620 | 0.26% | 29.19% | 29.19% | - |
| FX Income Accumulator | 1.0308 | 1.0316 | -0.08% | -0.03% | 1.70% | 3.09% |
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