Local Equities Market
For the week ending July 14, 2023, the local stock market, measured by the Combined Index, declined by 1.34%. The Main Market Index declined by 1.33%, the Junior Market Index declined by 1.39%, and the JSE USD Equities Index advanced by 3.55%. During the week, Sterling Investments Limited USD was the largest gainer, rising by approximately 15.00% to close at USD 0.02. KLE Group Limited was the biggest decliner, which fell by 14.53% to close at $1.53.
Large-cap stocks, reflecting those listed on the Main Market Index are underperforming on a YTD basis, declining by 9.45%, relative to its Junior Market counterpart which has declined by 0.77%.
For the week ending July 14, 2023, overall market activity resulted from trading in 121 stocks of which 50 advanced, 63 declined and 8 traded firm. Market volume amounted to 139,810,447 units valued at over $457,846,869.31. JFP Limited was the volume leader with 52,013,366 units (36.47%), followed by Transjamaican Highway Limited with 28,213,901 units (19.78%), and by Wigton Windfarm Limited Ordinary Shares with 13,615,081 units (9.55%).
Revisiting relevant news during the week:
Margins down but JMMB pressing forward
High volatility and the harsh realities of current market conditions which compressed margins for the JMMB Group last year will not deter its business from going after increased growth over the short term, Group CEO Keith Duncan has said.
Margins down but JMMB pressing forward
Dolla chasing billions in new capital
Dolla Financial Services Limited will be returning to the capital markets in short order based on the insatiable demand which has pushed its loan book past $2.57 billion and seen its inventory of cash and deposits drop to $111.31 million.
Dolla chasing billions in new capital
Berger to introduce new line of mosquito-repellant paint
As part of its multimillion-dollar capital expenditure plans, Berger Paints Jamaica Limited (BPJL) said it is looking to bring a new line of mosquito-repellant paint to market shortly.
Berger to introduce new line of mosquito-repellant paint
Share buy-backs gaining steam on JSE
Amidst the significant decline in market prices of stocks on the Jamaica Stock Exchange, several companies have begun to work on executing share buy-back programmes to unlock additional value for shareholders.
Share buy-backs gaining steam on JSE
NCB Chairman Michael Lee-Chin slams lack of dividend payments, vows to drive management to cut costs to improve shareholder benefit
Michael Lee-Chin, the on-leave chairman of the NCB Financial Group, said shareholders who are growing increasingly frustrated about the lack of dividend payments from the bank will see changes when he returns to the helm in August after his three months garden leave that will not only restore the normally reliable quarterly flow of income but also see an increase in the size of the payout.
NCB Chairman Michael Lee-Chin slams lack of dividend payments, vows to drive management to cut costs to improve shareholder benefit
| Unit Trust Fund | 12/07/2023 | 05/07/2023 | Week/Week Return | Year-to-Date Return | 1 Year Return | Yield |
|---|---|---|---|---|---|---|
| Capital Growth | 77.33 | 78.22 | -1.14% | -19.29% | -21.92% | - |
| Money Market | 15.9498 | 15.9119 | 0.24% | 2.67% | 3.96% | 4.76% |
| Income Portfolio | 100.00 | 100.00 | - | - | - | 5.62% |
| FX Bond Portfolio (US$) | 1.3782 | 1.3777 | 0.04% | 2.77% | 5.08% | 4.96% |
| Real Estate Portfolio | 12,715.00 | 12,700.18 | 0.12% | 60.21% | 229.06% | - |
| FX Growth Portfolio | 0.8927 | 0.9002 | -0.83% | 5.56% | 4.70% | - |
| FX Income Accumulator | 1.0071 | 1.0063 | 0.08% | 0.58% | - | 2.45% |
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