Weekly Report – Mar 27, 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 increased 0.22%, the JSE Combined Index decreased by 1.99%, the JSE Main Market Index decreased by 2.14%, the JSE All Jamaican Composite Index decreased by 2.16% and the JSE USD Equities Index decreased by 3.59%. The biggest winner this week was Ironrock Insurance Limited, rising by 50.00% to close at J$3.45. The biggest loser was Elite Diagnostic Limited falling by 23.14% to close at J$2.71.

Index

3/27/20203/20/202012/31/2019Week/WeekYear-to-Date
JSE Main Market

359,682.96

367,554.61

509,916.44-2.14%

-29.46%

JSE Junior Market

2,144.08

2,139.47

    3,348.97

-0.22%

-35.98%

JSE Combined Market

354,007.88

361,185.51

505,253.98

-1.99%

-29.93%

JSE USD Equities Market

197.53

204.88

      226.23

-3.59%

-12.69%

 

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
GKJ$0.4016-Mar-2013-Mar-206-Apr-20
SGJJ$0.5513-Mar-2012-Mar-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 Pair3/27/20203/20/202012/31/2019Week/WeekYear-to-Date
JMD: USD135.47136.51132.570.76%-2.19%
JMD:CAD98.2794.69100.70-3.78%2.41%
JMD:GBP165.38161.37170.64-2.49%3.08%

 

Unit Trust Performance

Unit Trust Fund3/27/20203/20/2020Week/Week
Return
Year-to-Date
Return
1 Year ReturnYield
Capital Growth69.373275.47-8.07%-28.33%-2.82% –
Money Market14.427614.30140.88%0.43%3.15%2.08%
Income Portfolio100.00100.001.70%
FX Bond Portfolio (US$)1.28201.22514.64%-4.48%2.06%
Real Estate Portfolio5,265.575,008.805.13%2.35%-3.86%
FX Growth Portfolio0.8003
0.7907
1.21%-10.65%-10.90%

 

Stock Market Weekly Report

March 27, 2020 – Download here

 

International Update

International Equity Market

Index3/27/20203/20/202012/31/2019Week/WeekYear-to-Date
Dow Jones
21,636.78
19,173.98
28,462.1412.84%-23.98%
S&P 500
2,541.47
2,304.92
3,234.8510.26%-21.43%
NASDAQ 100
7,588.37
6,879.52
8,733.0710.30%-13.11%
FTSE 100
5,510.33
5,190.78
7,542.446.16%-26.94%
Euro Stoxx 50
2,728.65
2,531.22
3,748.477.80%-27.21%

US News & Data:

New orders for US manufactured durable goods increased 1.2% month-over-month in February of 2020, following a revised 0.1% gain in January and beating market expectations of a 0.8% drop. Personal spending in the US rose 0.2% month-over-month in February of 2020, the same as in the previous month and in line with market expectations. Real personal spending increased 0.1%, also the same as in January 2020, boosted by a 0.2% increase in spending for services (vs a flat reading in January 2020) that was partly offset by a 0.2% decrease in spending for goods. New orders for US manufactured durable goods increased 1.2% month-over-month in February of 2020, following a revised 0.1% gain in January 2020 and beating market expectations of a 0.8% drop.

European News & Data:

The Bank of England’s MPC voted unanimously to hold the Bank Rate at an all-time low of 0.1% during its scheduled March meeting, with policymakers taking a wait-and-see approach to monetary policy after delivering two emergency cuts this month in response to the severe economic and financial disruption caused by the spread of Covid-19. The bank also said the UK GDP is seen falling sharply during the first half of the year and unemployment is likely to rise rapidly across the country. Policymakers pledged to take further action if needed to guard against an unwarranted tightening in financial conditions and support the economy.

The Ifo Business Climate indicator for Germany was revised lower to 86.1 in March 2020, the lowest since July 2009. It was also the steepest monthly fall since German reunification (October 2019) as the Covid-19 outbreak hurts businesses, jobs and overall activity. Notable, the Ifo institute believes that Germany’s economy could contract by between 5% and 20% this year depending on the length of the shutdown caused by the pandemic. The GfK consumer sentiment indicator for Germany plunged 5.6 points to 2.7 heading into April 2020, the lowest reading since May 2009 and well below market expectation of 7.1. There was a sharp deterioration in consumers’ expectations regarding their personal income (-13.4 points to 27.8, the lowest since March 2013) as well as the overall economic development (-20.4 points to -19.2, the lowest since August 2012) amid fears over a recession due to the COVID-19 pandemic.

G20 News & Data:

The Bank of Canada slashed its benchmark interest rate by 50bps to 0.25% in an emergency meeting on March 27th , 2020. The move follows a similar margin cut on March 13 and brings borrowing costs to its effective lower bound aiming to support the economy and the financial system amid the coronavirus pandemic. The Committee also launched a Commercial Paper Purchase Program to help to restore a key source of short-term funding for businesses and said that will begin acquiring government securities in the secondary market until the economy recovers.

News

BOJ announces eight-point pre-emptive COVID-19 monetary strategy…read more

The Bank of Jamaica (BOJ) is holding its policy rate unchanged at 0.50% per annum for another month…read more

Dolphin Cove selling its Lucea property…read more

Trump signs $2 trillion coronavirus relief bill as the US tries to prevent economic devastation…read more

Food manufacturers, Jamaican Teas and Salada Foods have both pushed back their stock splits until further notice because of COVID-19…read more

BOJ Takes Pre-Emptive Measures To Keep Financial System Humming – Expects Economy To Contract 3%, Led By Tourism Fallout…read more

Small farmers in Jamaica buckle under the impact of COVID-19…read more

Stock futures fall 1%, pointing to another volatile week as investors assess coronavirus impact… read more

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