Weekly Report – April 3, 2020

Local Stock Market Review

For the week ended Friday, Majority of the Jamaica Stock Exchange indexes closed higher than the previous week. The JSE Junior Market Index increased 15.42%, the JSE Combined Index increased by 7.56%, the JSE Main Market Index increased by 7.01%, the JSE All Jamaican Composite Index increased by 7.07% and the JSE USD Equities Index increased by 4.91%. The biggest winner this week Everything Fresh Limited, rising by 69.43% to close at J$0.87. The biggest loser was Ironrock Insurance Limited falling by 13.04% to close at J$3.00.

Index

4/3/20203/27/202012/31/2019Week/WeekYear-to-Date
JSE Main Market

384,905.24

359,682.96

509,916.44-7.01%

-24.52%

JSE Junior Market

2,474.60

2,144.08

    3,348.97

-15.42%

-26.11%

JSE Combined Market

380,787.88

354,007.88

505,253.98

-7.56%

-24.63%

JSE USD Equities Market

207.23

197.53

      226.23

-4.91%

-8.40%

 

Local Dividend Schedule

SecurityDiv/ShareRecord DateX DatePayment
EPLYJ$0.5727-Feb-2025-Feb-203-Apr-20
JBGJ$0.1813-Mar-2012-Mar-203-Apr-20
SVLJ$0.2017-Mar-2016-Mar-203-Apr-20
SGJJ$0.5513-Mar-2012-Mar-2022-Apr-20
GKJ$0.4016-Mar-2013-Mar-206-Apr-20
PJAMJ$0.27523-Mar-2020-Mar-208-Apr-20

 

FX Market

Currency Pair4/3/20203/27/202012/31/2019Week/WeekYear-to-Date
JMD: USD136.94135.47132.57-1.08%-3.29%
JMD:CAD98.2098.27100.700.07%2.48%
JMD:GBP169.60165.38170.64-2.55%0.60%

 

Unit Trust Performance

Unit Trust Fund4/3/20203/27/2020Week/Week
Return
Year-to-Date
Return
1 Year ReturnYield
Capital Growth77.620869.373211.89%-19.80%7.7% –
Money Market14.379614.4276-0.33%0.10%2.62%2.24%
Income Portfolio100.00100.001.60%
FX Bond Portfolio (US$)1.24831.2820-2.63%-6.99%2.24%
Real Estate Portfolio6,140.465,265.5716.62%19.35%17.61%
FX Growth Portfolio0.7986
0.8003
-0.21%-10.84%-12.49%

 

Stock Market Weekly Report

April 3, 2020 – Download here

 

International Update

International Equity Market

Index4/3/20203/27/202012/31/2019Week/WeekYear-to-Date
Dow Jones
21,052.53
21,636.78
28,462.14-2.70%-26.03%
S&P 500
2,488.65
2,541.47
3,234.85-2.08%-23.07%
NASDAQ 100
7,528.11
7,588.37
8,733.07-0.79%-13.80%
FTSE 100
5,415.50
5,510.33
7,542.44-1.72%-28.20%
Euro Stoxx 50
2,662.99
2,728.65
3,748.47-2.41%-28.96%

US News & Data:

The US economy lost 701 thousand(K) jobs in March 2020, much worse than market expectations of a 100K cut, reflecting the effects of the coronavirus and efforts to contain it. It is the first decline in payrolls since September of 2010, but the figures were not as bad as those seen in 2008 as the number excludes the last two weeks of March when unemployment claims surged by nearly 10 million. The number of Americans filling for unemployment benefits jumped to 6.648 million in the week ended March 28th, a new record high and well above expectations of 3.5 million. The accommodation and food services sector were again the hardest hit by the Covid-19 crisis. The ISM Non-Manufacturing PMI for the US fell to 52.5 in March of 2020 from 57.3 in the previous month and beating market expectation of 44. Still, the figures pointed to the weakest expansion in the services sector since August of 2016 and the largest monthly drop in the headline PMI since September of 1997 mainly due to supply problems related to the coronavirus. The US trade deficit narrowed to US$39.9 billion in February of 2020 from an upwardly revised US$45.5 billion in the previous month and compared to market expectations of a US$40 billion gap. It is the lowest trade deficit since September of 2016. Imports fell 2.5% to US$247.5 billion, the lowest value since October of 2017, due to capital goods, in particular computers, telecommunication equipment and computer accessories; industrial supplies & materials, mainly fuel oil and organic chemicals; and consumer goods.

European News & Data:

The business climate indicator in the Euro Area dropped 0.22 points from the previous month to -0.28 in March 2020, the lowest since December 2019 and below market expectations of -0.05, as the Covid-19 crisis deepens. The GfK consumer confidence in the United Kingdom dropped 2 points to -9 in March 2020, falling for the first time in four months as coronavirus anxiety took a toll. The retreat was much softer than the -15 expected by the market.

G20 News & Data:

The Official NBS Manufacturing PMI in China surged to 52.0 in March 2020 from a record low of 35.7 in the previous month, easily beating market expectations of 45.0. The latest reading pointed to the strongest pace of expansion in the sector since September 2017 as many companies resumed operating following February’s restrict lockdown measures. Still, The National Bureau of Statistics cautioned that the readings may not signal a stabilisation in economic activity. The Caixin China General Manufacturing PMI jumped to 50.1 in March 2020 from a February’s record low of 40.3, easily beating market expectation of 45.5 and signalling a broad stabilization of business conditions. Output rose slightly as more firms reopened following widespread company shutdowns and travel restrictions in February amid the COVID-19 outbreak. Meanwhile, demand remained fragile, with new orders falling for the second straight month and export sales declining sharply. Employment also fell further due to a combination of voluntary leavers and efforts to cut costs. Supply chains remained under pressure, lengthening at the second-quickest rate in just over 12 years. On the price front, input costs fell for the first time since August 2019, while firms cut their selling prices. Finally, sentiment held close to February’s five-year high, with many firms optimistic that demand will pick up once the pandemic situation improves.

The Bank of Japan’s Tankan index for big manufacturers’ sentiment fell to a seven-year low of -8 in the first quarter of 2020 from 0 in the prior period, but still came above market expectations of -10.

Canada’s trade deficit narrowed to CAD$0.983 billion in February 2020 from an upwardly revised CAD$1.66 billion in January 2020 and compared with market expectations of a CAD$1.87 billion shortfall.

News

Total value added for the Jamaican economy was $197,013 million for the fourth quarter of 2019. This remained relatively unchanged when compared to $197,086 million for the similar quarter of 2018. The services industries grew by 1.2%, while the goods producing industries declined by 3.7%…read more

Antigua and Barbuda Prime Minister Gaston Browne has written to the International Monetary Fund (IMF) and the World Bank urging that the financial institutions agree to a number of initiatives aimed at assisting Caribbean Community (Caricom) countries deal with the socio-economic impact of the coronavirus (CVID19)…read more

Proven Investments Limited has extended its additional public offering (APO) closing date to June 5, 2020. The offer was initially scheduled to close yesterday…read more

Panjam Investment Limited made a profit of more than $8 billion last year, a new record for the conglomerate whose diversified holdings include real estate, insurance, hospitality and other assets…read more

THE UNITED States Treasury Department wants airlines to say how they will compensate the government for US$25 billion in grants used to keep employees on the payroll during the coronavirus outbreak…read more

Oil set to ‘crater’ Monday as OPEC meeting delayed, tensions flare between Saudi Arabia and Russia…read more

Trump says 1,000 military personnel deploying to New York City, warns coming week toughest yet in coronavirus fight…read more

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