Local Equities Market
For the week ending June 30, 2023, the local stock market, measured by the Combined Index, advanced by 1.23%. The Main Market Index advanced by 1.24%, the Junior Market Index advanced by 1.06%, and the JSE USD Equities Index advanced by 15.6 3 %. During the week, Medical Disposables & Supplies Limited was the largest gainer, rising by approximately 44.09% to close at $5.85. The biggest decline was Stationery and Office Supplies Limited which fell by 20.00% to close at $23.16.
Large-cap stocks, reflecting those listed on the Main Market Index are underperforming on a YTD basis, declining by 6.70%, relative to its Junior Market counterpart which has declined by 0.06%. For the week ending June 30, 2023, overall market activity resulted from trading in 127 stocks of 71 advanced, 43 declined and 13 traded firm. Market volume amounted to 286,817,673 units valued at over $2,319,455,330.40. JFP Limited was the volume leader with 103,334,501 units (35.8%), followed by Transjamaican Highway Limited with 30,116,711 units (10.45%) and by Wigton Windfarm Limited Ordinary Shares with 25,705,373 units (8.92%).
Revisiting relevant news during the week:
Finsac sells Ciboney to Wayne Wray
The Financial Sector Adjustment Company, better known as Finsac, has sold Ciboney Group to Wiltshire Consulting and Advisory Limited after years of trying trying to offload its majority stake. The cost of the transaction was not disclosed.
Finsac sells Ciboney to Wayne Wray
Rate hike pause continues
The Bank of Jamaica (BOJ) said Thursday it was keeping its key interest rate at 7 per cent after its fifth-straight monetary policy committee (MPC) meeting since November, citing that eventhough inflation has declined significantly over the last few months, the fight to control consumer price increases is far from over.
Rate hike pause continues
NCB Financial Group issuing new bond
NCB Financial Group Limited (NCBFG) is seeking to raise between $2.8 billion – $4.2 billion in its latest unsecured corporate bond issuance.
NCB Financial Group issuing new bond
Strong performance for Key Insurance
Double-digit growth for Key Insurance in 2022 shines a positive light on GraceKennedy’s acquisition.
Strong performance for Key Insurance
JMMB’s Vertex buys into Guyanese restaurant company
JMMB Securities Limited (JMMBSL) through its Vertex private equity investment vehicle recently closed a deal through which it secured a minority stake in Corum Restaurant Group Inc — a quick service operator based in Guyana
JMMB’s Vertex buys into Guyanese restaurant company
EduFocal targets Africa: Enters Nigerian market with longterm plans
EduFocal Limited CEO Gordon Swaby has revealed the company’s strategic decision to enter the African market, a venture that he has been actively exploring for several years. This expansion aligns with EduFocal’s broader vision of extending its presence across the continent.
EduFocal targets Africa: Enters Nigerian market with long-term plans
| Unit Trust Fund | 6/30/2023 | 6/23/2023 | Week/Week Return | Year-to-Date Return | 1 Year Return | Yield |
|---|---|---|---|---|---|---|
| Capital Growth | 78.3561 | 78.17 | 0.24% | -18.22% | -19.98% | - |
| Money Market | 15.9224 | 15.9062 | 0.10% | 2.49% | 3.61% | 4.80% |
| Income Portfolio | 100.00 | 100.00 | - | - | - | 5.71% |
| FX Bond Portfolio (US$) | 1.3768 | 1.3749 | 0.14% | 2.67% | 3.89% | 4.96% |
| Real Estate Portfolio | 12,257.49 | 12,266.73 | -0.08% | 54.44% | 2149.63% | - |
| FX Growth Portfolio | 0.8918 | 0.89 | 0.20% | 5.45% | 3.37% | - |
| FX Income Accumulator | 1.0085 | 1.01 | -0.15% | 0.72% | - | 0.72% |
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