Local Equities Market
For the week ending January 19, 2024, the local stock market, measured by the Combined Index, declined by 0.34%. The Main Market Index declined by 0.27%, the Junior Market Index declined by 0.99%, and the JSE USD Equities Index declined by 0.31%. During the week, First Rock Real Estate Limited was the largest gainer, rising by approximately 33.18% to close at $8.47. Caribbean Cream Limited was the biggest decliner, which fell by 23.37% to close at $3.41.
Large-cap stocks, reflecting those listed on the Main Market Index are overperforming on a YTD basis, declining by 1.06%, relative to its Junior Market counterpart which has declined by 2.11%.
For the week ending January 19, 2024, overall Market activity resulted from trading in 121 stocks of which 42 advanced, 63 declined and 16 traded firm. Market volume amounted to 99,219,843 units valued at over $541,448,461.62. Wigton Windfarm Limited was the volume leader with 15,843,958 units (15.58%), followed by TransJamaican Highway Limited with 14,133,389 units (13.90%) and by Jamaica Producers Group Limited with 5,145,657 units (5.06%).
Revisiting relevant news during the week:
JFP, Total Office deal expected to close by summer
The deal struck between commercial furniture manufacturer Jamaica Fibreglass Products Limited (JFP) Limited and Trinidadian office supply company Total Office 2006 Limited is still underway and is expected to be completed by mid- year, GK Capital’s Vice-President of Investor Relations Ryan Strachan said in an update.
JFP, Total Office deal expected to close by summer
Inflation soars to 10-month high on rising transport costs
Higher rates for passenger transport services pushed inflation to a 10-month high at 6.9 per cent for the year spanning December 2022 to December 2023. This is the highest inflation has been measured in Jamaica since February 2023 when the Statistical Institute of Jamaica (Statin) said it was 7.8 per cent.
Inflation soars to 10-month high on rising transport costs
Consumers buoyant but businesses cautious
An uptick in consumer confidence and a less-than-optimistic outlook on the local economy amongst business leaders were the highlights of the Jamaica Chamber of Commerce Business & Consumer Indices webinar on Tuesday, which outlined the key takeaways from surveys conducted in the fourth quarter of 2023.
Consumers buoyant but businesses cautious
Billion-dollar CREP programme to boost coffee production
The long-standing issues that have plagued coffee farmers across Jamaica have finally received the attention of the Ministry of Agriculture and Fisheries after years of lobby from the Jamaica Agricultural Commodities Regulation Authority and the Jamaica Coffee Exporters’ Association, and will be addressed in the upcoming budget cycle.
Billion-dollar CREP programme to boost coffee production
Visual Vibe takes inside look at advertising
Digital board advertising company Visual Vibe is taking its advertisements indoors. The company, which was recently acquired by and integrated into the iCreate group of companies, is aiming to drive revenue growth with the introduction of indoor digital screens, a new service that was introduced last month at the AC Hotel Kingston in St Andrew.
Visual Vibe takes inside look at advertising
BOJ going all out for Jam-Dex success
he Bank of Jamaica (BOJ) is currently working to modify the existing payment infrastructure to create a more accommodating environment for the acceptance of Jam-Dex (Jamaica Digital Exchange), Jamaica’s central bank digital currency (CBDC).
BOJ going all out for Jam-Dex success
| Unit Trust Fund | 17/01/2024 | 10/01/2024 | Week/Week Return | Year-to-Date Return | 1 Year Return | Yield |
|---|---|---|---|---|---|---|
| Capital Growth | 76.59 | 76.63 | -0.06% | -4.91% | -15.00% | - |
| Money Market | 16.333 | 16.3163 | 0.10% | 0.26% | 5.35% | 5.22% |
| Income Portfolio | 100.00 | 100.00 | -0.00% | - | - | 5.92% |
| FX Bond Portfolio (US$) | 1.4256 | 1.4251 | 0.04% | 0.13% | 6.20% | 3.64% |
| Real Estate Portfolio | 12,636.89 | 12,626.25 | 0.08% | 0.38% | 58.07% | - |
| FX Growth Portfolio | 0.94 | 0.9512 | -1.24% | -1.45% | 7.90% | - |
| FX Income Accumulator | 1.0125 | 1.0133 | -0.08% | -0.25% | 0.97% | 2.90% |
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