Local Equities Market
For the week ending December 29, 2023, the local stock market, measured by the Combined Index, advanced by 2.85%. The Main Market Index advanced by 2.81%, the Junior Market Index advanced by 3.22%, and the JSE USD Equities Index advanced by 4.50%. During the week, Radio Jamaica Limited was the largest gainer, rising by approximately 49.23% to close at $1.94. MFS Capital Partners Limited was the biggest decliner, which fell by 14.54% to close at $1.94.
Large-cap stocks, reflecting those listed on the Main Market Index are underperforming on a YTD basis, declining by 8.48%, relative to its Junior Market counterpart which has declined by 3.46%.
For the week ending December 29, 2023, overall Market activity resulted from trading in 119 stocks of which 75 advanced, 29 declined and 15 traded firm. Market volume amounted to 305,369,765 units valued at over $2,871,843,159.21. MailPac Group Limited was the volume leader with 50,764,955 units (16.60%), followed by Wigton Windfarm Limited with 40,360,221 units (13.19%), and by Jamaica Teas Limited with 34,585,537 units (11.31%).
Revisiting relevant news during the week:
Tropical Battery’s expansion yields record-breaking revenue
Tropical Battery Company Limited’s recent expansion into the Dominican Republic’s market has yielded record- breaking results, with a gross operating revenue of $782.8 million over the past nine months. This figure represents an 18.3 per cent increase from the same period last year, as highlighted in its third quarter (Q3) results.
Tropical Battery’s expansion yields record-breaking revenue
AMG Packaging looks to further expansion projects
Box maker AMG Packaging and Paper Company is pursuing another round of expansion just a year into the commissioning of its new factory on Retirement Crescent in the Corporate Area.
AMG Packaging looks to further expansion projects
Hylton, Cohen now amongst NCBFG’s biggest
Former NCB Financial Group executives Patrick Hylton and Dennis Cohen are now amongst the financial conglomerate’s largest shareholders in the aftermath of their $6-billion separation package from the company earlier this year. The data were revealed in a recent filing made by the NCB Financial Group on Jamaica Stock Exchange..
Hylton, Cohen now amongst NCBFG’s biggest shareholders
JMMB Group gets green light to extend preference shares
JMMB Group Limited (JMMBGL) has received approval to amend the terms of issue on two classes of its preference shares at its general meeting held on Wednesday at the AC Hotel.
JMMB Group gets green light to extend preference shares
Sagicor Financial bags US$435-million gain on Ivari purchase
Sagicor Financial Company Limited (SFC) has highlighted that its preliminary estimations have it recording a US$434.73-million (J$66.98-billion) gain for its purchase of Ivari on October 3.
Sagicor Financial bags US$435-million gain on Ivari purchase
Sagicor appoints trustee amid default on bond payments by iCreate
The next 48 hours will be a crucial period for training institute iCreate Limited, following the appointment of a trustee by Sagicor Investments to force the company to make good on a $24-million bond it executed in 2020.
Sagicor appoints trustee amid default on bond payments by iCreate
VMBS, JMMB to hike fees effective Feb 1
Clients of financial institutions JMMB and Victoria Mutual Building Society (VMBS) may find themselves paying more for some bank services, including cash withdrawals, come February 1, 2024.
VMBS, JMMB to hike fees effective Feb 1
| Unit Trust Fund | 27/12/2023 | 27/12/2023 | Week/Week Return | Year-to-Date Return | 1 Year Return | Yield |
|---|---|---|---|---|---|---|
| Capital Growth | 76.55 | 74.03 | 3.40% | -20.10% | -15.83% | - |
| Money Market | 16.2805 | 16.2435 | 0.23% | 4.80% | 4.80% | 4.78% |
| Income Portfolio | 100.00 | 100.00 | -0.00% | - | - | 4.99% |
| FX Bond Portfolio (US$) | 1.4247 | 1.4227 | 0.14% | 6.24% | 6.39% | 5.05% |
| Real Estate Portfolio | 12,603.50 | 12,641.97 | -0.30% | 58.80% | 142.65% | - |
| FX Growth Portfolio | 0.9228 | 0.9138 | 0.98% | 9.13% | 10.34% | - |
| FX Income Accumulator | 10.34% | 1.0146 | 0.17% | 1.50% | - | 2.75% |
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