Local Equities Market
For the week ended February 17, 2023, the local stock market as measured by the Combined Index declined by 1.76%. The Main Market Index declined by 1.80%, the JSE Junior Market Index declined by 1.45%, and the JSE USD Equities Index advanced by 8.65%. During the week, Margaritaville (Turks) Limited USD was the largest ordinary equity gainer, rising by approximately 29.77% to close at US$0.13. The biggest decliner was MPC Caribbean Clean Energy Limited, which fell by 26.62% to close at $63.11.
Small-cap stocks, reflecting those listed on the Junior Market Index have slightly outperformed on a YTD basis, declining by 3.67%, outpacing its Main Market counterpart which has declined 7.21%.
For the week ended February 17, 2023, overall market activity resulted from trading in 127 stocks of which 54 advanced, 63 declined and 10 traded firm. Market volume amounted to 163,083,466 units valued at over $731,579,595,73. One on One Educational Services Limited was the volume leader with 33,588,275 units (20.36%), followed by Everything Fresh Limited with 29,534,446 units (17.90%), and Image Plus Consulting Limited with 9,490,727 units (5.75%)
Revisiting relevant news during the week:
Margaritaville planning Eastern Caribbean expansion
The Margaritaville Caribbean Group has set its eyes on the Eastern Caribbean for the next phase of growth as it emerges from the pandemic-related lockdown stronger.
Margaritaville planning Eastern Caribbean expansion
GK increases Catherine’s Peak stake
GraceKennedy Limited has entered into an agreement with Spike Industries Limited to double its stake to 70 per cent in Catherine’s Peak Bottling Company Limited, which is the owner of the Catherine’s Peak pure spring water brand.
GK increases Catherine’s Peak stake
Lasco Financial diversifying income
mix Following a slowdown in third-quarter earnings, Lasco Financial Services Limited is looking to improve its loan portfolio and rebuild its prepaid card business as it seeks to diversify its earnings.
Lasco Financial diversifying income mix
Wisynco sets new record
Wisynco Group Limited recorded its highest-ever quarterly revenue out-turn of $12.13 billion as demand continues to increase across all channels despite facing production challenges in its second quarter.
Wisynco sets new record
Tropical Battery enters Dom Rep
Tropical Battery Company Limited, through its subsidiary Tropical Renewable Energy, has entered into an agreement to acquire 50 per cent interest in Dominican Republic-based solar photovoltaic engineering, procurement and construction company KAYA Energy Group in a cash and share offer.
Tropical Battery enters Dom Rep
Cargo Handlers records increased profits
Cargo Handlers Limited (CHL) saw an increase in both profits and revenues for the three-month period ending December 31, 2022.
Cargo Handlers records increased profits
JMMB Group profit dips
The JMMB Group saw its profit dip by almost a half in the nine months to the end of December. Profit over the period amounted to $4.76 billion, down from $8.82 billion a year earlier.
JMMB Group profit dips
| Unit Trust Fund | 15/02/2023 | 08/02/2023 | Week/Week Return | Year-to-Date Return | 1 Year Return | Yield |
|---|---|---|---|---|---|---|
| Capital Growth | 86.38 | 87.72 | -1.53% | -9.85% | -8.09% | - |
| Money Market | 15.6287 | 15.6165 | 0.08% | 0.60% | 2.40% | 4.38% |
| Income Portfolio | 100.00 | 100.00 | - | - | - | 4.90% |
| FX Bond Portfolio (US$) | 1.3493 | 1.3479 | 0.00% | 0.62% | -1.61% | 4.52% |
| Real Estate Portfolio | 8,024.87 | 8,038.20 | -0.17% | 1.11% | 1300.27% | - |
| FX Growth Portfolio | 0.9100 | 0.9062 | 0.42% | 7.60% | 11.11% | - |
| FX Income Accumulator | 1.0057 | 1.0051 | 0.06% | 0.44% | - | 0.53% |
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