Weekly Report – Oct. 18, 2019

Local Stock Market Review

The biggest winner was MPC Caribbean Clean Energy JMD rising by 24% to close $190. The biggest loser was Ciboney falling by 16% to close at $0.10. For the week ended Friday, the Jamaica Stock Exchange indexes close slightly lower with JSE Combined Index declined by 0.28%, the JSE Index declined by 0.29%, the JSE All Jamaican Composite Index declined by 0.30%, the JSE Select Index declined by 0.61%, the Junior Market Index declined by 0.21% but the JSE USD Equities Index advanced by 0.13%.

 

Local Dividend Schedule

 

FX Market

Unit Trust Performance

Stock Market Weekly Report

October 18, 2019 – Download here

 

International Update

International Equity Market

European News & Data:

United Kingdom inflation was 1.7% in September 2019, unchanged from August 2019. Eurozone Inflation dropped to 0.8% in September 2019 from 1% in August 2019, the balance of trade surplus rose to €14.7 billion in August 2019 from €11.9 billion year-over-year; and Industrial production dropped 2.8% year-over-year for August 2019, following a 2.1% fall in July 2019, which was the tenth consecutive month of contractions in the industrial sector.

Asian News & Data:

China’s GDP advanced 6.0% year-over-year in Q3 2019, down from a 6.2% expansion in the previous quarter, this was the weakest growth rate since Q1 1992. China’s trade surplus increased to US $39.65 billion in September 2019 from US $30.26 billion in September 2018, with exports declining by 3.2% and imports declining by 8.5% year-over-year. China’s annual inflation rose to 3% in September 2019 from 2.8% in August 2019 and above market expectations of 2.9%; this was the highest inflation rate since October 2013.  Singapore’s GDP advanced 0.1% year-over-year in Q3 2019, the same pace as Q2 2019, but missing market consensus of a 0.2% expansion; its GDP grew 0.60% for Q3 2019 versus a contraction of 2.7% in Q2 2019, thus narrowly avoiding a technical recession.

Important To Note: The International Monetary Fund (IMF) has stated that world growth would slow to 3% in 2019, down from its July forecast of 3.2%.

 

News

The Statistical Institute of Jamaica (STATIN) in its Labour Force Survey for July 2019 has reported a 7.8 per cent unemployment rate for the period, down by 0.6 percentage points…read more

Having secured majority interest in insurance conglomerate, Guardian Holdings Limited (GHL), Jamaican/Canadian billionaire Michael Lee-Chin is mooting offering shares in the company to staff, particular to sales staff…read more

Path Cleared For Heineken To Acquire Geddes’ D&G Shares…read more

Proven Investments Limited has made an exceptional gain in excess of US$20 million from the partial sale of its shares in microfinance company, Access Financial Services (AFS)…read more

JMMB Group Limited expects to net at least $10 billion from its additional share offer which opens next Tuesday, funds that will be used to back its acquisition of a stake in regional insurance company Sagicor Financial…read more

The foreign owners of Jamalco are activating a new holding company that could be used as a vehicle to list the alumina refinery on the Jamaica Stock Exchange, JSE…read more

As Facebook’s libra faces headwinds, China is racing to launch its own global cryptocurrency…read more

 

 

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