Local Equities Market
For the week ending March 15, 2023, the local stock market, measured by the Combined Index, declined by 1.00%. The Main Market Index declined by 1.09%, the Junior Market Index declined by 0.17%, and the JSE USD Equities Index declined by 2.60%. During the week, Sygnus Real Estate Finance Limited was the largest gainer, rising by approximately 39.20% to close at USD 0.10. Margaritaville Turks Limited USD was the biggest decliner, which fell by 16.67% to close at USD 0.10.
Large-cap stocks, reflecting those listed on the Main Market Index are overperforming on a YTD basis, increasing by 0.95%, relative to its Junior Market counterpart which has declined by 0.51%.
For the week ending March 8, 2024, overall Market activity resulted from trading 124 stocks of which 43 advanced, 69 declined and 12 traded firm. Market volume amounted to 153,750,662 units valued at over $902,448,750.10. Wigton Windfarm Limited was the volume leader with 36,910,616 units (23.38%), followed by Carreras Limited with 20,583,012 units (13.04%) and by TransJamaican Highway Limited with 19,169,891 units (12.14%).
Revisiting relevant news during the week:
Tourism’s triple 5 on track
Bullish on securing its triple five objective through which it seeks to earn US$5 billion in earnings as it welcomes five million tourist arrivals over a targeted 5-year period ending 2025, Jamaica’s tourism sector continues to surpass expectations already delivering more than a billion in revenues since the start of this year.
Tourism’s triple 5 on track
Salada Foods grows Caricom exports
Salada Foods is aggressively pursuing export growth in Caribbean markets in a bid to diversify its export sales that previously comprised of fulfilment orders to three of Jamaica’s major trading partners — the United States of America, the United Kingdom and Canada.
Salada Foods grows Caricom exports
Playa hauls record $150 billion in 2023
Playa Hotels and Resorts NV recorded its best year on record as a swift recovery of tourism markets in Jamaica, the Dominican Republic and Mexico resulted in it generating US$977.50 million (J$150.14 billion) of revenue, a significant step up to the US$636.48 million (J$82.60 billion) earned in 2019.
Playa hauls record $150 billion in 2023
Poultry sales drive JBG revenues
Growth in the sale of its poultry and other related products were the driving force behind a slight uptick in revenues seen by Jamaica Broilers Group (JBG) at the end of its third quarter period, even as profits marginally declined.
Poultry sales drive JBG revenues
JPS teased
Finance Minister Dr Nigel Clarke has extended an olive branch to the Jamaica Public Service Company Limited (JPS) about potentially lowering their corporate income tax rate in a time when other amendments to the Income Tax Act were announced during his budget presentation on Tuesday.
JPS teased
$750-m Junior Market threshold announced
Finance Minister Dr Nigel Clarke has announced that the Government will be moving ahead in the upcoming fiscal year to increase the capital threshold for companies listed on the Junior Market of the Jamaica Stock Exchange.
$750-m Junior Market threshold announced
| Unit Trust Fund | 13/03/2024 | 06/03/2024 | Week/Week Return | Year-to-Date Return | 1 Year Return | Yield |
|---|---|---|---|---|---|---|
| Capital Growth | 76.35 | 77.17 | -1.07% | -5.20% | -7.94% | - |
| Money Market | 16.4798 | 16.4617 | - | 1.16% | 5.65% | 5.33% |
| Income Portfolio | 100.00 | 100.00 | - | - | - | 6.15% |
| FX Bond Portfolio (US$) | 1.4611 | 1.4393 | 1.51% | 2.62% | 7.66% | 5.32% |
| Real Estate Portfolio | 12,660.45 | 12,707.28 | -0.37% | 0.57% | 58.92% | - |
| FX Growth Portfolio | 1.03 | 1.01 | 1.23% | 7.65% | 19.90% | - |
| FX Income Accumulator | 1.0152 | 1.0156 | -0.04% | 0.020% | 0.910% | 3.00% |
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