Local Equities Market
For the week ending January 31, 2025, the local stock market, measured by the Combined Index, improved by 0.77%. The Main Market Index improved by 0.48%, the Junior Market Index improved by 4.24% and the JSE USD Equities Index improved by 3.19%. During the week First Rock Real Estate Investments Limited (USD) was the largest gainer, rising by approximately 25.08% to close at $0.04. Cargo Handlers Limited was the biggest decliner, which fell by 8.00% to close at $11.50.
Small-cap stocks, reflecting those listed on the Junior Market Index are outperforming on a YTD basis, improving by 1.37%, relative to its Main Market counterpart which has declined by 0.47%.
For the week ending January 31, 2025, overall market activity resulted from trading 126 stocks of which 53 advanced, 48 declined and 15 traded firm. Market volume amounted to 231,901,295 units valued at over $1,788,817,163.54. Key contributors to trading volume are One on One Educational Services Limited with 63,178,857 units (27.08%), followed by TransJamaican Highway Limited with 23,342,568 units (10.00%) and Lasco Financial Services Limited with 21,381,221 units (9.16%).
Revisiting relevant news during the week:
Remittance fallout?
New remittance regulations in Florida, requiring senders to show proof that they are not undocumented immigrants, could pose challenges for Jamaica’s economy by potentially reducing transaction volumes and shifting some remittance flows to informal channels, according to economists.
Remittance fallout?
Barita receives A+ credit ratings from CariCRIS
Barita Investments Limited has been assigned strong investment-grade issuer/corporate credit ratings by Caribbean Information and Credit Rating Services Limited (CariCRIS).
Barita receives A+ credit ratings from CariCRIS
GK acquires full stake in Catherine’s Peak
GraceKennedy Limited (GK) is set to launch its Catherine’s Peak bottled water brand in the Cayman Islands later this year, following the completion of 100 per cent ownership of the business.
GK acquires full stake in Catherine’s Peak
Image Plus scans for solutions amid Q3 decline
Image Plus Consultants Limited (IPCL) has reported a decline in its third-quarter results and anticipates further losses in the fourth quarter following the South East Regional Health Authority (SERHA) directive to halt external referrals.
Image Plus scans for solutions amid Q3 decline
MDS EXPANDING TO CAYMAN
Medical Disposables and Supplies Limited (MDS) is set to enter the Cayman Islands within the coming months through a joint venture called MDS Cayman in which MDS will own a 30 per cent stake.
MDS EXPANDING TO CAYMAN
FosRich sets sights on renewable energy growth amid Government talks
Fosrich is intensifying its push into Jamaica’s renewable energy market with the launch of a new energy storage system (ESS). As the sector begins to gain traction, CEO Cecil Foster has revealed ongoing discussions with the Ministry of Agriculture that could position the company to play a key role in the Government’s ambitious, solar-powered, cold storage initiative.
FosRich sets sights on renewable energy growth amid Government talks
| Unit Trust Fund | 30/01/2025 | 23/01/2025 | Week/Week Return | Year-to-Date Return | 1 Year Return | Yield |
|---|---|---|---|---|---|---|
| Capital Growth | 79.23 | 78.20 | 1.32% | -2.97% | 3.34% | - |
| Money Market | 17.3690 | 17.3515 | 0.10% | 1.41% | 6.16% | 5.18% |
| Income Portfolio | 100.00 | 100.00 | - | - | - | 5.15% |
| FX Bond Portfolio (US$) | 1.4873 | 1.4867 | 0.04% | 0.14% | 3.77% | 4.84% |
| Real Estate Portfolio | 17,537.26 | 17,568.70 | -0.18% | 0.85% | 38.70% | - |
| FX Growth Portfolio | 1.2620 | 1.2656 | -0.28% | 30.02% | 30.02% | - |
| FX Income Accumulator | 1.0316 | 1.0309 | 0.07% | 0.05% | 1.42% | 3.09% |
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