Local Equities Market
For the week ending October 6, 2023, the local stock market, measured by the Combined Index, declined by 3.51%. The Main Market Index declined by 3.69%, the Junior Market Index declined by 2.00%, and the JSE USD Equities Index decreased by 2.32%. During the week, ISP Finance Services Limited was the largest gainer, rising by approximately 29.18% to close at $44.00. Paramount Trading (Jamaica) Limited was the biggest decliner, which fell by 21.61% to close at $1.56.Large-cap stocks, reflecting those listed on the Main Market Index are underperforming on a YTD basis, declining by 11.50%, relative to its Junior Market counterpart which has declined by 2.66%
For the week ending October 6, 2023, overall market activity resulted from trading in 121 stocks of which 39 advanced, 73 declined and 9 traded firm. Market volume amounted to 97,223,944 units valued at over $540,581,088.06. Transjamaican Highway Limited was the volume leader with 16,622,776 units (16.84%), followed by Carreras Limited with 14,812,368 units (15.01%), and by One Great Studio Company Limited with 9,938,147 units (10.07%).
Revisiting relevant news during the week:
CPJ targets $40 billion in revenue by 2028
Following another record year where consolidated revenue jumped 19 per cent to a historic US$142.58 million ($22.10 billion), Caribbean Producers (Jamaica) Limited (CPJ) is looking to grow that figure to a quarter of US$1 billion over the next five years as it expands in Jamaica and St Lucia.
CPJ targets $40 billion in revenue by 2028
Blue Power Group’s revenue soars by 66%
Soap manufacturer Blue Power Group Limited has achieved $871 million in revenues for the financial year (FY) ended April 30, 2023, marking a 66 per cent increase compared to the previous year.
Blue Power Group’s revenue soars by 66%
Seprod bemoans drop in dairy business
New climate change challenges including heat and drought have further weighed on Seprod’s dairy business, cutting milk production at the start of the summer season by almost half, CEO of the company Richard Pandohie has said.
Seprod bemoans drop in dairy business
Eppley zeroing in on leases and asset administration for growth
With the dynamic changes in the economic environment, Eppley Limited is narrowing its focus on its asset management platform as it diversifies its income and asset base across the Caribbean.
Eppley zeroing in on leases and asset administration for growth
Dolla appoints Kerr as next CEO
Dolla Financial Services Limited has officially named Kenroy Kerr as the company’s new chief executive officer (CEO). Kerr’s appointment, which took effect on September 29, 2023, sees him transitioning from the role of interim CEO, a post he held for over two months following the resignation of former CEO and co- founder of the microlending agency, Kadeem Mairs, in July.
Dolla appoints Kerr as next CEO
BOJ signals rate hikes could resume
The Bank of Jamaica (BOJ) Friday said it will keep its policy rate unchanged at 7 per cent for the next eight weeks but signalled rate hikes could resume, “if the emerging risks to inflation materialise”.
BOJ signals rate hikes could resume
| Unit Trust Fund | 04/10/2023 | 27/09/2023 | Week/Week Return | Year-to-Date Return | 1 Year Return | Yield |
|---|---|---|---|---|---|---|
| Capital Growth | 74.6719 | 74.6663 | 0.01% | -22.07% | -22.25% | - |
| Money Market | 16.1527 | 16.1461 | 0.04% | 3.97% | 5.17% | 4.96% |
| Income Portfolio | 100.00 | 100.00 | -0.00% | - | - | 5.70% |
| FX Bond Portfolio (US$) | 1.398 | 1.3992 | -0.09% | 4.25% | 5.01% | 5.80% |
| Real Estate Portfolio | 12,727.24 | 12,698.06 | 0.23% | 60.36% | 144.49% | - |
| FX Growth Portfolio | 0.8432 | 0.8463 | -0.37% | -0.29% | -0.40% | - |
| FX Income Accumulator | 1.0005 | 1.0020 | -0.15% | 0.14% | - | 1.99% |
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