Market Updates | Barita Insights | October 18th, 2022

Local Equities Market

For the week ended October 14, 2022, the local stock market as measured by the Combined Index declined week-overweek by -0.94%. The Main Market Index declined by 0.84%, the JSE Junior Market Index declined by 1.84%, and the JSE USD Equities Index declined by 4.54%. During the week, Mayberry Jamaican Equities Limited was the largest gainer, rising by 7.88% to close at J$13.55. The biggest decliner was Caribbean Producers Jamaica Limited which fell by 11.35% to close at J$12.42. 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 19.57% YTD, outpacing its Main Market counterpart which has declined 10.20% YTD. For the week ended October 14, 2022, overall market activity resulted from trading in 61 stocks of which 19 advanced, 37 declined and 5 traded firm. Market volume amounted to 39,805,320 units valued at over $311,231,951.74. TransJamaican Highway Limited was the volume leader with 12,202,787 units (32.82%) followed by Wigton Windfarm Limited with 6,224,131 units (16.74%) and JMMB Group Limited with 2,432,156 units (6.54%). Revisiting relevant news during the week: Mayberry Investments Refinancing Debt Mayberry Investments Limited (MIL) is refinancing its $2- billion unsecured 6.50 per cent corporate note due in short order with a new unsecured note at a 10 per cent interest rate.
Mayberry Investments Refinancing Debt

Bond Deal Flow slows in Region
The United Nations Economic Commission for Latin America and the Caribbean, known as ECLAC, indicates that bond market deal flow for the region slowed in 2022 due to tightening financial global conditions.
Bond Deal Flow slows in Region

PROVEN Expanding in Bahamas
Proven Group Limited (PGL) will be opening an office in The Bahamas under its banking and wealth pillar as it expands its reach across the Caribbean. PROVEN Expanding in Bahamas NIR Increases in September Net international reserves (NIR) for the country closed at US$3.81 billion at the end of September 2022, according to the latest update from the Bank of Jamaica (BOJ).
NIR Increases in September

Sterling Investments Moving Investment Portfolio to Cayman Islands
Shareholders of Sterling Investments Limited (SIL) will vote at the company’s extraordinary general meeting (EGM) on November 12 to consider the transfer of the company’s portfolio to its wholly owned subsidiary Sterling Investments (Cayman) Limited.
Sterling Investments Moving Investment Portfolio to Cayman Islands

Digicel, Mastercard sign Multi-Market Deal
Digicel has entered into a multi-market partnership with Mastercard for the distribution of co-branded virtual and physical payment cards as part of its MyCash mobile wallet offering.
Digicel, Mastercard sign Multi-Market Deal

Unit Trust Fund 14/10/2022 30/09/2022 Week/Week Return Year-to-Date Return 1 Year Return Yield
Capital Growth 95.11 95.73 -0.97% 3.43% 3.03% -
Money Market 15.38 15.23 0.13% 1.06% 1.49% 4.20%
Income Portfolio 100.00 100.00 - - - 4.78%
FX Bond Portfolio (US$) 1.3300 1.3318 -0.10% -3.39% -3.43% 4.26%
Real Estate Portfolio 5,219.53 5350.09 0.27% 884.69% 867.96% -
FX Growth Portfolio 0.81 0.83 -4.71% 24.98% -24.98% -

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