Weekly Report – May 15, 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 1.01%, the JSE Combined Index increased by 0.29%, the JSE Main Market Index increased by 0.23%, the JSE All Jamaican Composite Index increased by 0.23% and the JSE USD Equities Index decreased by 0.91%. The biggest winner this week is Ironrock Insurance Limited, rising by 25.00% to close at J$2.70. The biggest loser was Key Insurance Company Limited falling by 20.73% to close at J$7.70.

Index

5/15/20205/8/202012/31/2019Week/WeekYear-to-Date
JSE Main Market

375,066.49

374,196.18

509,916.440.23%

-26.45%

JSE Junior Market

2,444.99

2,420.48

    3,348.97

1.01%

-26.99%

JSE Combined Market

371,399.39

370,335.80

505,253.98

0.29%

-26.49%

JSE USD Equities Market

186.97

188.69

      226.23

-0.91%

-17.35%

 

Local Dividend Schedule

 

SecurityDiv/ShareRecord DateX DatePayment
MILJ$0.12522-May-2021-May-201-Jul-20
SVLJ$0.002518-May-2015-May-2012-Jun-20
MJEJ$0.0612-May-2011-May-2026-Jun-20

 

FX Market

Currency Pair5/15/20205/8/202012/31/2019Week/WeekYear-to-Date
JMD: USD147.12146.07132.57-0.71%-10.97%
JMD:CAD106.32104.80100.70-1.45%-5.58%
JMD:GBP179.59179.63170.640.02%-5.25%

 

Unit Trust Performance

Unit Trust Fund5/14/20205/7/2020Week/Week
Return
Year-to-Date
Return
1 Year ReturnYield
Capital Growth77.941375.862.74%-19.47%0.69% –
Money Market14.635814.59410.29%1.88%3.42%2.13%
Income Portfolio100.00100.001.68%
FX Bond Portfolio (US$)1.25891.25770.10%-6.20%2.75%
Real Estate Portfolio6,202.816,545.64-5.24%20.56%19.25%
FX Growth Portfolio0.8474
0.8533
-0.69%-5.39%0.90%

 

Stock Market Weekly Report

May 15, 2020 – Download here

 

International Update

International Equity Market

Index5/15/20205/8/202012/31/2019Week/WeekYear-to-Date
Dow Jones
23,685.42
24,331.32
28,462.14-2.65%-16.78%
S&P 500
2,863.70
2,929.80
3,234.85-2.26%-11.47%
NASDAQ 100
9,152.64
9,220.35
8,733.07-0.73%4.80%
FTSE 100
5,799.77
5,935.98
7,542.44-2.29%-23.10%
Euro Stoxx 50
2,770.70
2,908.11
3,748.47-4.73%-26.08%

US News & Data:

The US unemployment rate jumped to 14.7% in April 2020, the highest in the history of the series and compared to market expectations of 16%, as the Covid-19 crisis threw millions out of work. The number of unemployed persons rose by 15.9 million to 23.1 million, while the number of employed declined by 22.4 million to 133.4 million. The labor force participation rate decreased by 2.5% over March 2020 to 60.2%, the lowest rate since January 1973. Retail sales in the US sank 16.4% from a month earlier in April of 2020, worse than forecasts of a 12% drop. It is the sharpest decrease in retail sales ever due to the coronavirus pandemic which forced Americans to stay at home and many businesses to close. The biggest declines were seen in sales of clothing and accessories (-78.8%), electronics and appliances (-60.6%) and furniture (-58.7%). Sales at gasoline stations decreased 28.8% after oil prices turned negative for the first time ever in April 2020. Annual inflation rate in the US eased to 0.3% in April of 2020 from 1.5% in March 2020 and below market expectations of 0.4%. It is the lowest inflation rate since October of 2015, mainly due to a 32% plunge in gasoline prices. In April 2020, oil prices turned negative for the first time in history amid storage and oversupply concerns. Also, coronavirus lockdown restrictions led to a 5.7% drop in cost of apparel and a 5.5% fall in cost of transportation services. On the other hand, cost of food increased 3.5%, the highest rate since February of 2012. On a monthly basis, consumer prices declined 0.8%, the largest drop since December of 2008, mainly due to a 20.6% fall in gasoline prices although the indexes for apparel, motor vehicle insurance, airline fares, and lodging away from home all fell sharply as well. Excluding food and energy, core inflation eased to 1.4%, the lowest rate since April of 2011.

European News & Data:

Britain’s gross domestic product shrank by 2.0% on quarter in the first three months of 2020, after showing no growth in the previous period and compared to market expectations of a 2.5% decrease, a preliminary estimate showed. That was the steepest contraction since the fourth quarter of 2008 as a coronavirus lockdown from mid-March forced businesses to close and consumers to stay at home. The number of employed persons in the Euro Area declined by 0.2% on quarter in the first three months of 2020, compared to market expectations of a 0.4% drop. It is the first decline in employment since the second quarter of 2013 due to lockdowns and business closures imposed by many countries to fight the coronavirus pandemic. The Eurozone quarterly economic contraction was confirmed at 3.8% in the first quarter of 2020, the steepest since comparable records began in 1995 as COVID-19 containment measures began to be widely introduced by Member States in mid-March 2020. Germany’s economy shrank 2.2% on quarter in the three months to March 2020, following a 0.1% fall in the previous period and entering a recession, a preliminary estimate showed. This was the largest decline in the GDP since the first quarter of 2009 and the second steepest contraction since German unification, as efforts to contain the coronavirus pandemic forced many businesses to close and people to stay at home.

G20 News & Data:

China’s producer prices declined 3.1% year-on-year in April 2020, following a 1.5% drop in March 2020 and compared with market consensus of a 2.6% fall. This was the steepest deflation rate since April 2016, underlining damage caused by the coronavirus outbreak. National Australia Bank’s index of business confidence rose to -46 in April 2020 from a record low of -66 in March 2020, amid the coronavirus crisis. Still, the latest reading remains around twice as weak as the 1990s recession. The Melbourne Institute and Westpac Bank Consumer Sentiment Index for Australia surged 16.4% over April 2020 to 88.1 in May 2020. It was the biggest monthly rise on record, recouping most of previous month’s drop as the country began to ease coronavirus lockdown measures.

News

The Bank of Jamaica (BOJ) is reporting that it has reduced the cash reserve requirements for deposit-taking institutions (DTIs) by two percentage points…read more

US retail sales plunged a record 16 per cent in April 2020…read more

GraceKennedy Q1 profit before tax up 50 per cent…read more

Jamaica’s tourism industry will be reopened in short order with a date to be announced soon. That’s the word from the country’s tourism minister, Edmund Bartlett…read more

Increased revenues, less profit for tTech in 2019 financial year…read more

First Rock declares profit for first quarter as a listed company…read more

Mailpac Group Limited (MGL) posted on Monday an unaudited, after-tax profit of $101.9 million for its first quarter ended March 31, 2020, an 18 per cent increase when compared with the previous quarter…read more

The Caribbean Development Bank’s (CDB’s) newest facility funded by the 11th European Development Fund (EDF) is oversubscribed, this based on the overwhelming response it has received from countries in the region…read more

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