Weekly Report – Mar 6, 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 12.96%, the JSE Combined Index decreased by 10.59%, the JSE Main Market Index increased by 10.42%, the JSE All Jamaican Composite Index increased by 10.46% and the JSE USD Equities Index increased by 7.17%. The biggest winner this week was Sterling Investment Limited, rising by 13.70% to close at J$3.31. The biggest loser was Caribbean Flavours & Fragrances Limited falling by 30.63% to close at J$10.15.

Index

3/6/20202/28/202012/31/2019Week/WeekYear-to-Date
JSE Main Market

432,053.03

482,310.09

509,916.44-10.42%

-15.27%

JSE Junior Market

2,534.51

2,911.92

    3,348.97

-12.96%

-24.32%

JSE Combined Market

424,781.35

475,096.10

505,253.98

-10.59%

-15.93%

JSE USD Equities Market

211.79

228.15

      226.23

-7.17%

-6.38%

 

Local Dividend Schedule

 

SecurityDiv/ShareRecord DateX DatePayment
PULSJ$0.0024-Feb-203-Feb-1910-Mar-20
AFSJ$0.1014-Feb-2013-Feb-2029-Feb-20
WISYNCOJ$0.0914-Feb-2013-Feb-203-Mar-20
PBSJ$0.049431-Dec-1930-Dec-197-Feb-20
NCBFGJ$1.0014-Feb-2013-Feb-202-Mar-20
EPLYJ$0.5727-Feb-2025-Feb-203-Apr-20
CARJ$0.1527-Feb-2025-Feb-2012-Mar-20
PROVENJ$0.450624-Feb-2021-Feb-206-Mar-20
JBGJ$0.1813-Mar-2012-Mar-203-Apr-20
SVL$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

 

FX Market

Currency Pair3/6/20202/28/202012/31/2019Week/WeekYear-to-Date
JMD: USD135.54135.78132.570.18%-2.24%
JMD:CAD101.5299.59100.70-1.94%-0.82%
JMD:GBP175.61174.83170.64-0.45%-2.91%

 

Unit Trust Performance

Unit Trust Fund3/6/20202/28/2020Week/Week
Return
Year-to-Date
Return
1 Year ReturnYield
Capital Growth91.1296.43-5.50%-5.86%26.2% –
Money Market14.557714.5848-0.19%1.33%4.00%2.21%
Income Portfolio100.00100.002.79%
FX Bond Portfolio (US$)1.35111.3529-0.13%0.67%1.79%
Real Estate Portfolio6,222.246,780.72-8.24%20.94%12.57%
FX Growth Portfolio0.8550
0.8658
-1.25%-4.55%-3.26%

 

Stock Market Weekly Report

March 6, 2020 – Download here

 

International Update

International Equity Market

Index3/6/20202/28/202012/31/2019Week/WeekYear-to-Date
Dow Jones
25,867.40
25.398.08
28,462.14-12.01%-9.12%
S&P 500
2,972.48
3,380.16
3,234.85-12.06%-8.11%
NASDAQ 100
8,527.58
9,623.58
8,733.07-11.39%-2.35%
FTSE 100
6,471.80
7,425.06
7,542.44-12.84%-14.19%
Euro Stoxx 50
3,232.07
3,840.97
3,748.47-15.85%-13.78%

US News & Data:

The Federal Reserve lowered the target range for its federal funds rate by 50bps to 1.25% during an emergency move on March 3rd 2020, saying the coronavirus poses evolving risks to economic activity. The Fed reiterated is closely monitoring developments and their implications for the economic outlook and will use its tools and act as appropriate to support the economy. It is the first emergency rate cut since the 2008 financial crisis. The US economy added 273 thousand jobs in February of 2020, the most since May 2018, compared to an upwardly revised 273 thousand in January and market expectations of 175 thousand. The US trade deficit narrowed to US$45.3 billion in January 2020 from a revised US$48.6 billion in the previous month and compared to market expectations of a US$46.1 billion gap. Exports declined by 0.4%, led by decreases in sales of capital goods and industrial supplies and materials.

European News & Data:

The Eurozone economy grew only 0.1% in the fourth quarter of 2019, below 0.3% expansion reported in the previous three-month period, a second estimate showed. That was the weakest pace of growth since a 0.4% contraction in the first quarter of 2013. Italy’s GDP shrank 0.3% on quarter in the three months to December 2019, compared to a 0.1% growth in the previous period and in line with a preliminary reading as estimates have shown. It was the steepest contraction since Q1 2013.

G20 News & Data:

The Caixin China General Manufacturing PMI plunged to 40.3 in February 2020, the lowest level since the survey began in April 2004 and well below market expectation of 45.7. Output, new orders and employment fell the most on record, as firms extended Lunar New Year shutdowns due to the COVID-19 outbreak. In addition, export sales dropped at one of the fastest rates in the series history on the back of shipping restrictions and order cancellations. Supply chains were also hit heavily, with average delivery times increasing at the quickest pace on record, leading firms to increase their use of current stocks. 

The Consumer Confidence Index in Japan declined to 38.4 in February 2020 from a seven-month high of 39.1 in the previous month and below market expectations of 40.6. 

The Bank of Canada cut its benchmark interest rate by 50 bps to 1.25% on March 4th, 2020, bringing borrowing costs to the lowest since June 2018. It is the first time since March 2009 that the central bank slash rates by 50bps, following US Fed’s decision to lower rates by the same margin. The Reserve Bank of Australia lowered the cash rate by 25bps to a new record low of 0.5% during its March meeting aiming to support the economy as it responds to the global coronavirus outbreak. Policymakers noted that the outbreak is having a significant effect on the Australian economy, particularly in the education and travel sectors, and that the country’s GDP growth in the March quarter is likely to be noticeably weaker than earlier expected, with the ongoing uncertainty likely to also affect domestic spending.

News

The local stock market has been in decline, as investors are selling out their shares to position themselves to buy into the recent initial public offerings that are on the market and those that will be coming over the next few months…read more

Dow falls 250 points capping a roller-coaster week on Wall Street, as the coronavirus outbreak kept investors on edge…read more

Supreme Ventures Limited (SVL) is reporting record-breaking profits for 2019 in spite of the continuing losses from its horse racing subsidiary, Supreme Ventures Racing and Entertainment Limited (SVREL)…read more

Sterling Investments Limited (SIL) is reporting the highest annual net profit since listing on the stock exchange in 2014…read more

Kingston Wharves Limited (KWL), on Friday last reported an after-tax surplus of $2.6 billion for the financial year ended December 31, 2019. This represented a 34 per cent or $655 million increase when compared with the previous corresponding period…read more

The January 2020 Producer Price Index for the mining and quarrying industry has decreased by 3.8 per cent…read more

Virus spread prompts US Federal Reserve to slash rates in surprise move…read more

US manufacturing activity slowed again in February, as global supply chains were hit by the coronavirus outbreak, according to an industry survey released yesterday…read more

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