Local Equities Market
For the week ended May 19, 2023, the local stock market as measured by the Combined Index declined by 1.06%. The Main Market Index declined by 1.12%, the Junior Market Index declined by 0.51%, and the JSE USD Equities Index declined by 5.37%. During the week, Margaritaville (Turks) Limited was the largest gainer, rising by approximately 27.88% to close at $18.99. The biggest decliner was Sygnus Real Estate Finance Limited which fell by 23.14% to close at USD 0.09.
Small-cap stocks, reflecting those listed on the Junior Market Index have outperformed on a YTD basis, declining by 6.02%, relative to its Main Market counterpart which has declined by 7.29%.
For the week ended May 19, 2023, overall market activity resulted from trading in 126 stocks of which 44 advanced, 72 declined and 10 traded firm. Market volume amounted to 118,377,376 units valued at over $560,032,852.78. Transjamaican Highway Limited was the volume leader with 28,146,965 units (23.55%), followed by Wigton Windfarm Limited with 9,374,293 units (7.84%), and JFP Limited with 8,507,581 units (7.12%).
Revisiting relevant news during the week:
Sygnus Credit targets $4-billion capital raise
With an ambitious US$300-million target of originations over the next three years and insatiable demand from companies, Sygnus Credit Investments Limited (SCI) is looking to return to the capital markets in a bid to raise an additional US$15 million – US$25 million ($2.31 – $3.85 billion) through the issuance of redeemable preference shares.
Sygnus Credit targets $4-billion capital raise
Sagicor first quarter results apply international reporting standard
Sagicor published its first quarter results on Monday applying for the first time the new International Financial Reporting Standard (IFRS) 17 which replaces the old IFRS 4 standard.
Sagicor first quarter results apply international reporting standard
Sagicor Real Estate X Fund charting new future
Following the deconsolidation from Sagicor Group Jamaica Limited (SJ) at the end of September, Sagicor Real Estate X Fund Limited is now planning its next moves with an independent board and $7.38 billion in current assets.
Sagicor Real Estate X Fund charting new future
JP’s European dream
The Jamaica Producers Group has set its sights on substantial growth in its juice business in Europe, having now upgraded the production facilities to be more efficient in the face of inflationary pressures caused by the war in the Ukraine.
JP’s European dream
MPC Caribbean proposing reorganisation
Shareholders of the listed company MPC Caribbean Clean Energy Limited (MPCCEL) will vote at the upcoming May 30 annual general meeting (AGM) on a reorganisation which would see the assets of MPC Caribbean Clean Energy Fund LLC (MPC Fund) transferred to the company and new shares issued to MPC CCEF Participation GmBH
MPC Caribbean proposing reorganisation
TransJamaica Highway moves to amend articles for potential share buy-back
TransJamaica Highway Limited (TJH) is looking to ask its shareholders at its June 30 annual general meeting (AGM) to approve amendments to its articles of incorporation surrounding share buy-backs and directors’ age limitation.
TransJamaica Highway moves to amend articles for potential share buy-back
| Unit Trust Fund | 17/05/2023 | 10/05/2023 | Week/Week Return | Year-to-Date Return | 1 Year Return | Yield |
|---|---|---|---|---|---|---|
| Capital Growth | 79.19 | 79.74 | -0.69% | -17.35% | -21.05% | - |
| Money Market | 15.8056 | 15.7918 | 0.09% | 1.74% | 3.28% | 4.71% |
| Income Portfolio | 100.00 | 100.00 | - | - | - | 5.36% |
| FX Bond Portfolio (US$) | 1.3607 | 1.3585 | 0.16% | 1.47% | 1.30% | 4.81% |
| Real Estate Portfolio | 12,302.33 | 12,293.40 | 0.07% | 55.01% | 2115.02% | - |
| FX Growth Portfolio | 0.8762 | 0.8778 | -0.18% | 3.61% | 1.97% | - |
| FX Income Accumulator | 1.0081 | 1.0088 | 0.07% | 0.68% | - | 2.41% |
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