Local Equities Market
For the week ending November 8, 2024, the local stock market, measured by the Combined Index, improved by 0.02%. The Main Market Index improved by 0.04%, the Junior Market Index declined by 0.24%, and the JSE USD Equities Index improved by 4.33%. During the week General Accident Insurance Company (JA) Limited was the largest gainer, rising by approximately 26.40% to close at $6.75. Caribbean Flavours & Fragrances Limited was the biggest decliner, which fell by 18.18% to close at $1.17.
Small-cap stocks, reflecting those listed on the Junior Market Index are outperforming on a YTD basis, decreasing by 1.69%, relative to its Main Market counterpart which has declined by 2.45%.
For the week ending November 8, 2024, overall market activity resulted from trading in 103 stocks of which 34 advanced, 40 declined and 29 traded firm. Market volume amounted to 19,772,658 units valued at over $255,858,403.29. Wigton Energy Limited with 5,083,690 units (25.65%), followed by Edufocal Limited with 2,037,497 units (10.28%) and Lasco Distributors Limited with 1,950,558 units (9.84%).
Revisiting relevant news during the week:
WEATHERING THE STORM
Local businesses are faced with mounting operational challenges as erratic weather patterns drive up costs, hinder logistics, and strain productivity across sectors.
WEATHERING THE STORM
Beryl shaves Wigton revenue by one-third
Wigton Energy Limited (formerly Wigton Windfarm Limited) saw a one-third reduction in its second quarter revenue from $560.38 million to $378.31 million as Hurricane Beryl’s impact shaved Wigton’s energy production by 34 per cent during the period.
Beryl shaves Wigton revenue by one-third
Omni sees dip in Q3 revenues amid market challenges
A series of weather-related activities and other market conditions resulted in reduced sales for thermoplastics manufacturing and distribution company Omni Industries Limited, impacting revenues for its third quarter ended September 30, 2024.
Omni sees dip in Q3 revenues amid market challenges
Another Seprod acquisition?
It appears that Seprod Limited might be on the cusp of another major deal as the company prepares to ask its shareholders to approve two resolutions for its November 27 extraordinary general meeting (EGM).
Another Seprod acquisition?
Perennial challenges continue to blight growth for citrus crops
Trade Winds Citrus Limited (TWCL), the largest producer of citrus crops locally, has attributed recurring challenges associated with pests, diseases, and declining acreage among major issues affecting current produce yields, mainly oranges.
Perennial challenges continue to blight growth for citrus crops
BOJ SEEKS INTERNATIONAL HELP
As Jamaica gears up to implement the twin peaks model for regulatory oversight of the financial sector, Bank of Jamaica (BOJ) is seeking international advice to build a framework for consumer protection and market conduct.
BOJ SEEKS INTERNATIONAL HELP
| Unit Trust Fund | 07/11/2024 | 31/10/2024 | Week/Week Return | Year-to-Date Return | 1 Year Return | Yield |
|---|---|---|---|---|---|---|
| Capital Growth | 77.83 | 78.06 | -0.29% | -3.36% | 3.32% | - |
| Money Market | 16.9919 | 16.9826 | 0.05% | 4.30% | 5.24% | 5.53% |
| Income Portfolio | 100.00 | 100.00 | - | - | - | 5.92% |
| FX Bond Portfolio (US$) | 1.4728 | 1.4725 | 0.02% | 3.44% | 4.97% | 4.91% |
| Real Estate Portfolio | 17,745.15 | 17,734.91 | 0.06% | 40.96% | 39.30% | - |
| FX Growth Portfolio | 1.2331 | 1.2114 | 1.79% | 44.03% | 44.03% | - |
| FX Income Accumulator | 1.0283 | 1.0299 | -0.16% | 1.31% | 2.50% | 3.16% |
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