Local Equities Market
For the week ending May 31, 2024, the local stock market, measured by the Combined Index, advanced by 1.80%. The Main Market Index advanced by 1.62%, the Junior Market Index advanced by 3.93%, and the JSE USD Equities Index advanced by 0.65%. During the week, Sygnus Credit Investments Limited (USD) was the largest gainer, rising by approximately 30.83% to close at USD 0.09. MFS Capital Partners Limited was the biggest decliner, which fell by 16.28% to close at $1.08.
Small-cap stocks, reflecting those listed on the Junior Market Index are overperforming on a YTD basis, decreasing by 0.31%, relative to its Main Market counterpart which has declined by 1.01%.
For the week ending May 31, 2024, overall market activity resulted from trading in 127 stocks of which 68 advanced, 49 declined and 10 traded firm. Market volume amounted to 117,303,573 units valued at over $572,712,366.72. Wigton Windfarm Limited was the volume leader with 24,660,900 units (20.82%), followed by Transjamaican Highway Limited with 8,875,602 units (7.49%), and by One on One Educational Services Limited with 7,415,233 units (6.26%).
Revisiting relevant news during the week:
SVL positioning business towards remittance and global ambitions
Following the receipt of a remittance licence, microcredit licence, and entry into Ghana during 2023, Supreme Ventures Limited (SVL) is looking to capitalise on its prior investments to grow its business opportunities in Jamaica and globally.
SVL positioning business towards remittance and global ambitions
GK goes after Europe
In its quest to achieve the objectives of its 2030 vision, in which it is positioning to become a global consumer company, GraceKennedy (GK) Limited has plans to venture into more markets, with its latest focus fixed on Europe.
GK goes after Europe
Wisynco’s job fair attendance doubles target
Chairman of the Wisynco Group William Mahfood says more than 1,000 prospective employees turned up at the job fair recently held by the company, more than doubling its target of 400 workers. The fair, initially slated to last for one day on May 21, was extended by another day to accommodate the crowd that turned up at the event.
Wisynco’s job fair attendance doubles target
New car sales rev up Jetcon’s future plans
Used car dealer Jetcon Corporation Limited is shifting its focus towards new car sales as the market for pre-owned vehicles becomes increasingly challenging.
New car sales rev up Jetcon’s future plans
Cement companies restart dividend programmes
Cemex, SAB de CV and its Caribbean subsidiaries have restarted their dividend programmes to return capital to shareholders as the cement companies see improved financial performance.
Cement companies restart dividend programmes
BOJ cuts certificate of deposit (CD) minimum to $100k
The Bank of Jamaica (BOJ) has cut the minimum bid size for its 30-day certificate of deposit (CD) offerings by a 10th, from $1 million to $100,000, a move which has opened up greater access for the general public to higher-yielding financial instruments.
BOJ cuts certificate of deposit (CD) minimum to $100k
GK Financial Services is set to launch a new feature on its GK One mobile app, enabling users to send remittances out of the country.
GK One app ‘wires’ up a new feature
| Unit Trust Fund | 29/05/2024 | 22/05/2024 | Week/Week Return | Year-to-Date Return | 1 Year Return | Yield |
|---|---|---|---|---|---|---|
| Capital Growth | 76.48 | 76.05 | 0.57% | -5.04% | -4.92% | - |
| Money Market | 16.6080 | 16.5765 | 0.19% | 1.94% | 4.92% | 5.42% |
| Income Portfolio | 100.00 | 100.00 | - | - | - | 6.06% |
| FX Bond Portfolio (US$) | 1.4591 | 1.4584 | 0.05% | 2.47% | 6.40% | 5.03% |
| Real Estate Portfolio | 16,209.56 | 16,245.05 | -0.22% | 28.76% | 32.18% | - |
| FX Growth Portfolio | 1.0530 | 1.0428 | 0.98% | 10.47% | 20.49% | - |
| FX Income Accumulator | 1.0179 | 1.0177 | 0.02% | 0.28% | 1.18% | 3.49% |
Full Newsletter & Report
