Weekly Report – April 24, 2020

Local Stock Market Review

For the week ended Friday, Majority of the Jamaica Stock Exchange indexes closed lower than the previous week. The JSE Junior Market Index decreased 0.89%, the JSE Combined Index decreased by 1.61%, the JSE Main Market Index decreased by 1.67%, the JSE All Jamaican Composite Index decreased by 1.63% and the JSE USD Equities Index decreased by 4.01%. The biggest winner this week Everything Fresh Limited, rising by 26.55% to close at J$0.83. The biggest loser was SSL Venture Capital Jamaica Limited falling by 29.40% to close at J$0.71.

Index

4/24/20204/17/202012/31/2019Week/WeekYear-to-Date
JSE Main Market

381,593.65

388,060.38

509,916.44-1.67%

-25.17%

JSE Junior Market

2,414.24

2,435.86

    3,348.97

-0.89%

-27.91%

JSE Combined Market

377,077.35

383,260.59

505,253.98

-1.61%

-25.37%

JSE USD Equities Market

193.68

201.77

      226.23

-4.01%

-14.39%

 

Local Dividend Schedule

SecurityDiv/ShareRecord DateX DatePayment
SJJ$0.4024-Apr-2023-Apr-206-May-20
MILJ$0.12522-May-2021-May-201-Jul-20

 

FX Market

Currency Pair4/24/20204/17/202012/31/2019Week/WeekYear-to-Date
JMD: USD141.55140.02132.57-1.09%-6.77%
JMD:CAD102.2399.99100.70-2.24%-1.52%
JMD:GBP173.54175.10170.640.89%-1.70%

 

Unit Trust Performance

Unit Trust Fund4/22/20204/17/2020Week/Week
Return
Year-to-Date
Return
1 Year ReturnYield
Capital Growth77.659580.4801-3.50%-19.77%6.6% –
Money Market14.55814.5977-0.27%1.34%2.91%2.18%
Income Portfolio100.00100.001.74%
FX Bond Portfolio (US$)1.26461.25280.94%-5.77%2.62%
Real Estate Portfolio6,390.346,584.40-2.95%24.21%22.18%
FX Growth Portfolio0.8355
0.8336
0.23%-6.72%-8.89%

 

Stock Market Weekly Report

April 24, 2020 – Download here

 

International Update

International Equity Market

Index4/24/20204/17/202012/31/2019Week/WeekYear-to-Date
Dow Jones
23,775.27
24,242.49
28,462.14-1.93%-16.47%
S&P 500
2,836.74
2,874.56
3,234.85-1.32%-12.31%
NASDAQ 100
8,786.60
8,832.41
8,733.07-0.52%0.61%
FTSE 100
5,752.23
5,786.96
7,542.44-0.60%-23.74%
Euro Stoxx 50
2,809.07
2,888.30
3,748.47-2.47%-25.06%

US News & Data:

The number of Americans filling for unemployment benefits was 4.427 million for week ending April 18, 2020, bringing the total reported over the past five weeks to over 26 million, equivalent to 16% of the labor force. This means that the 22 million jobs created during the employment boom which started in September 2010 were wiped out in about a month as the coronavirus pandemic swept across the US. New orders for US manufactured durable goods plunged 14.4% month-over-month in March of 2020, following a downwardly revised 1.1% gain in February 2020 and worse than market forecasts of a 11.9% drop. It is the biggest drop in durable goods orders since August of 2014, as the coronavirus pandemic led to business and store closures. Sales of previously owned houses in the US sank 8.5% from the previous month to a seasonally adjusted annual rate of 5.27 million units in March of 2020, slightly below market expectations of 5.3 million. It is the biggest drop since November of 2015 but only the lowest rate since April 2019.

European News & Data:

The number of people claiming unemployment related benefits in the UK increased by 12 thousand in March 2020, following a downwardly revised 5.9 thousand rise in the previous month and compared to market expectations of a 175 thousand rise. The unemployment claims data was based on the situation on March 12th,2020 before much of the economy was shut down on March 23rd, 2020 before much of the economy was shut down on March 23 United Kingdom was unchanged in March of 2020 over the previous month, matching market expectations. It follows a 0.4 percent rise in February 2020. The GfK consumer sentiment indicator for Germany plunged to – 23.4 going into May 2020 and far below market expectations of -1.8 and after a downwardly revised 2.3 in the February 2020. It is the lowest reading on record as consumers felt for the first time the full extent of coronavirus restrictions, such as school, business and production closures and exit restrictions. The ZEW Economic Sentiment Index for Germany jumped by 77.7 points to 28.2 in April 2020 from an eight-year low in the previous month and well above market expectations of -42.3. It was the largest monthly increase since the survey began in December 1991, after posting a record fall during March 2020.

G20 News & Data:

The People’s Bank of China (PBoC) lowered its benchmark interest rates by 20 bps to a record low of 3.85% on April 20th, matching market expectations. It is the second cut this year as policymakers sought to shore up the economy battling with the COVID-19 outbreak after it contracted by 6.8% year-on-year in Q1 2020, the first decline since at least 1992. The five-year loan prime rate (LPR) was also lowered by 10 bps to 4.65% and bigger than market expectation of a 5bps reduction.

The Consumer Price Index in Japan decreased 0% in March of 2020 over February 2020.

Consumer prices in Canada went down 0.6% in March 2020 over a month earlier, the most since December 2014, after a 0.4 rise in the previous month and compared with market expectations of a 0.4% decline. Prices dropped for transportation (-3.5%), namely gasoline (-17.8%) due to lower global demand for crude oil following the coronavirus pandemic and an oversupply of oil amid tensions between oil-producing nations. Also cost declined for food (-0.1%); shelter (-0.1%); and health and personal care (-0.2%). In contrast, prices rose for clothing and footwear (1.6%); household operations, furnishings and equipment (0.3%); and alcoholic beverages, tobacco products and recreational cannabis (0.1%).

News

Chemical company Paramount Trading Jamaica Limited on Tuesday reported an unaudited after-tax profit of $9.2 million for the third quarter ended August 31, 2019, representing a 15 per cent increase compared with the corresponding period last year…read more

Saudi Arabia may have won a brief no-holds-barred oil-price war with Russia, but observers say it has hastened a coronavirus-led energy slump despite a subsequent historic deal to slash production…read more

The US government is helping get cash to private space companies, replacing frozen venture capital…read more

Private credit investment company Sygnus Credit Investments (SCI) announced that it has achieved a record six-month earnings for the period ended December 31, 2019, resulting in its largest shareholder dividend payment of US$1 million…read more

The Statistical Institute of Jamaica (STATIN) in its latest report on the consumer price index (CPI) has said that the inflation rate recorded a movement of -0.3% for the month of March 2020. The rate in the previous month was 0.7%…read more

What really happened in the oil market last week?…read more

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