Local Equities Market
For the week ended April 29, 2022, the local stock market increased week-over-week. The JSE Combined Index grew by 0.20%, the Main Market Index increased by 0.03%, the JSE Junior Market Index advanced by 1.87%, and the JSE USD Equities Index improved by 1.37%. During the week, 1834 Investment Limited was the biggest gainer, gaining 47.06% to close at $1.25. The biggest decliner was Supreme Ventures Ltd, which declined by 17.39% to close at $27.08.
Year to Date, with the ongoing rebound in the local economy, small-cap stocks, reflecting those listed on the Junior Market Index have continued the strong performance seen in 2021, growing by 29.85% YTD, outpacing its Main Market counterpart (1.44% YTD) by a wide margin.
For the week Overall Market activity resulted from trading in 116 stocks of which 59 advanced, 46 declined and 11 traded firm. Market Volume (excluding blocks) amounted to 165,285,146 units valued at $1,378,989,639. The volume leaders were Express Catering with 34,718,250 units (22.98%), with 8,509,977 units (5.63%) Transjamaican Highway Limited and Wigton Windfarm Limited Ordinary Shares with 8,305,277 units (5.50%)
Revisiting relevant news during the week:
While the construction boom continues in Jamaica, Caribbean Cement Company Limited’s (CCC) profit growth has significantly slowed down as rising fuel and electricity costs plus a royalty and service fee eat at its bottom line.
Royalty and energy prices drag Carib Cement earnings
Insurance companies in the region responded to the challenges of the financial fallout from the COVID-19 better than their deposit-taking counterparts.
Insurers fared better than banks in pandemic
GK Investments Limited, a subsidiary of the GraceKennedy (GK) Group, has increased its stake in Spur Tree Spices Jamaica from 6.45 per cent to 9.84 per cent.
GK increases stake in Spur Tree.
SAGICOR Investments Jamaica Limited (SIJL) has entered into a definitive agreement to purchase the securities dealer book of business from Alliance Investment Management Limited (AIML) which is expected to be completed within the next two months subject to due diligence.
Sagicor to acquire Alliance Investments securities book.
Chief executive officer of iCreate Limited Tyrone Wilson has shared that the Jamaica Stock Exchange (JSE) listed company is currently pursuing an aggressive merger and acquisition strategy with the aim of diversifying its income streams.
iCreate pursues aggressive M&A strategy.
JAMAICA’S economy continued its recovery from the pandemic-induced downturn recording growth of 4.6 per cent in 2021 while employment levels rise to the second highest on record pushing the unemployment rate to historic lows of 6.2 per cent, but these failed to translate into improved confidence among consumers and businesses regarding their short-term outlook for the economy.
Confidence dips.
ECONOMIC activity in the Caribbean is recovering faster than projected in October 2021, led by a strong pickup in tourism activity during the second half of 2021, according to the International Monetary Fund (IMF).
Recovering strongly.
| Unit Trust Fund | 27/4/2022 | 20/4/2022 | Week/Week Return | Year-to-Date Return | 1 Year Return | Yield |
|---|---|---|---|---|---|---|
| Capital Growth | 101.4408 | 99.4584 | 1.99% | 12.17% | 10.32% | - |
| Money Market | 15.2228 | 15.0925 | 0.86% | 1.47% | -0.01% | 2.30% |
| Income Portfolio | 100.00 | 100.00 | - | - | - | 3.08% |
| FX Bond Portfolio (US$) | 1.3542 | 1.3563 | 0.15% | -0.11% | -1.75% | 2.62% |
| Real Estate Portfolio | 5556.2588 5 | 5,544.8374 | 0.21% | -4.40% | 4.82% | - |
| FX Growth Portfolio | 0.9356 | 0.9899 | -5.49% | -8.87% | -13.53% | - |
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