Weekly Report – Mar 13, 2020

Local Stock Market Review

For the week ended Friday, the Jamaica Stock Exchange indexes closed lower than the previous week. The JSE Junior Market Index declined 8.55%, the JSE Combined Index decreased by 3.98%, the JSE Main Market Index decreased by 3.65%, the JSE All Jamaican Composite Index increased by 3.66% and the JSE USD Equities Index increased by 0.44%. The biggest winner this week was 1834 Investment Limited, rising by 12.4013.70% to close at J$1.10. The biggest loser was Pulse Investment Limited falling by 70.72% to close at J$2.89.

Index

3/13/20203/6/202012/31/2019Week/WeekYear-to-Date
JSE Main Market

416,262.28

432,053.03

509,916.44-3.65%

-18.37%

JSE Junior Market

2,317.91

2,534.51

    3,348.97

-8.55%

-30.79%

JSE Combined Market

407,894.58

424,781.35

505,253.98

-3.98%

-19.27%

JSE USD Equities Market

210.85

211.79

      226.23

-0.44%

-6.80%

 

Local Dividend Schedule

 

SecurityDiv/ShareRecord DateX DatePayment
EPLYJ$0.5727-Feb-2025-Feb-203-Apr-20
PROVENJ$0.450624-Feb-2021-Feb-206-Mar-20
JBGJ$0.1813-Mar-2012-Mar-203-Apr-20
SVLJ$0.2017-Mar-2016-Mar-203-Apr-20
VMILJ$0.0313-Mar-2012-Mar-2027-Mar-20
GKJ$0.4016-Mar-2013-Mar-206-Apr-20
SGJJ$0.5513-Mar-2012-May-2022-Apr-20
PJAMJ$0.27523-Mar-2020-Mar-208-Apr-20
FirstRockUS$0.000826-Mar-2025-Mar-2031-Mar-20
JSEJ$0.3725-Mar-2024-Mar-2031-Mar-20

 

FX Market

Currency Pair3/13/20203/6/202012/31/2019Week/WeekYear-to-Date
JMD: USD136.21135.54132.57-0.50%-2.75%
JMD:CAD100.26101.52100.701.24%0.44%
JMD:GBP171.73175.61170.642.21%-0.64%

 

Unit Trust Performance

Unit Trust Fund3/13/20203/6/2020Week/Week
Return
Year-to-Date
Return
1 Year ReturnYield
Capital Growth81.2491.12-10.85%-16.07%14.4% –
Money Market14.554314.5577-0.02%1.31%3.36%2.26%
Income Portfolio100.00100.002.75%
FX Bond Portfolio (US$)1.32251.3511-2.12%-1.46%1.89%
Real Estate Portfolio5,428.736,222.24-12.75%5.52%-2.00%
FX Growth Portfolio0.8228
0.8550
-3.77%-8.14%-5.96%

 

Stock Market Weekly Report

March 13, 2020 – Download here

 

International Update

International Equity Market

Index3/13/20203/6/202012/31/2019Week/WeekYear-to-Date
Dow Jones
23,185.62
25,867.40
28,462.14-10.37%-18.54%
S&P 500
2,711.02
2,972.48
3,234.85-8.80%-16.19%
NASDAQ 100
7,995.26
8,527.58
8,733.07-6.24%-8.45%
FTSE 100
5,366.11
6,471.80
7,542.44-17.08%-28.85%
Euro Stoxx 50
2,571.07
3,232.07
3,748.47-20.45%-31.41%

US News & Data:

Annual inflation rate in the US eased to 2.3% in February of 2020 from 2.5% in January 2020 which was the highest rate since October of 2018. Figures came slightly higher than market expectations of 2.2%. US core consumer prices, excluding volatile items such as food and energy, increased 2.4% from a year earlier in February 2020, the most since September 2019 and above market expectation of a 2.3% increase.

European News & Data:

The Bank of England unexpectedly cut the key interest rate by 50bps to 0.25% during an emergency meeting on March 11th, 2020. The central bank said the rate cut will help to support business and consumer confidence at a difficult time, to bolster the cash flows of businesses and households, and to reduce the cost, and to improve the availability, of finance. The UK trade surplus decreased to GBP$4.21 billion in January 2020 from a downwardly revised GBP$6.28 billion in December 2019. Exports fell 2.8% from a record high to GBP$62.5 billion, imports went up 0.5% from a month earlier to GBP 58.3 billion. The Eurozone quarterly economic growth was confirmed at 0.1% in the last three months of 2019, the weakest since a contraction was recorded in early 2013. 

Germany’s trade surplus narrowed to EUR$13.9 billion in January 2020 from EUR 14.5 billion in January 2019. This was the smallest trade surplus since January 2016, as exports dropped 2.15, Imports dropped at a softer 1.8%, as purchases from the EU fell 2.5% due to a 5.4% plunge in imports from the Eurozone.

G20 News & Data:

China’s annual inflation rate fell to 5.2% in February 2020 from an over eight-year high of 5.4% in January 2020. The Japanese economy shrank 1.8% this quarter December 2019, compared to the market expectation of a 1.7% decline. This was the steepest GDP fall since the second quarter of 2014, as private consumption went down 2.8%, following October’s sales tax hike. 

The Bank of Canada lowered its benchmark interest rate by 50 bps to 0.75% at a surprise meeting on March 13th. It follows a cut by a similar margin last week and brings borrowing costs to its lowest level since August 2017. The central bank said the unscheduled rate decision is a proactive measure taken in light of the negative shocks to Canada’s economy arising from the COVID-19 pandemic and the recent sharp drop in oil prices. The Melbourne Institute and Westpac Bank Consumer Sentiment Index for Australia declined 3.8% month- over-month to an over five-year low of 91.9 in February 2020 from 95.5 in the January 2020, reflecting the impact of the coronavirus outbreak and associated rout in financial markets. National Australia Bank’s index of business confidence declined to -4 in February 2020 from -1 in January 2020, its lowest level since July 2013, all industries saw a decline in conditions except for retail and wholesale. Surprisingly, only around 50% of firms reported no coronavirus impact to date, likely to change going forward.

News

Europe Outpaces China; Nations Shut Borders: Virus Update…read more

First Rock heads to Guyana via Dolla Financial…read more

As a result of the heightened disruption triggered by the intensification of the coronavirus (COVID-19) pandemic, PROVEN Investments Limited has suspended its additional public offering of shares, with effect from Friday, March 13…read more

Almost $2 billion decline in Scotia Group in net income for Q1 of 2020…read more

In light of the confirmed cases of the novel coronavirus (COVID-19) in the country, governor of the Bank of Jamaica (BOJ) Richard Byles is assuring the public that the country has adequate foreign exchange reserves, in excess of US $3.5 billion, to meet demands…read more

Berger Paints Jamaica Limited (BPJL) on Friday last reported a slash in its after-tax profit for the financial year ended December 31, 2019 due to the challenges posed for the Jamaican manufacturing sector, according to Adam Sabga, chairman of BPJLread more

Guardian Life Limited last Saturday announced its highest profit in its 20-year history with over $7.9 billion in net profit recorded for its 2019 financial year and a 15 per cent increase over 2018read more

Jamaica Budget 2020/21: Trying to right some wrongsread more

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