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Bloomberg Magazine lauds Jamaica’s Stock Market performance

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9 years ago

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Bloomberg Business, one of the leading financial news sources, has lauded the 80% surge of the Jamaican stock market in 2015 despite the less than stellar performance on returns of some of the world’s best known indexes.

According to Bloomberg, despite Jamaica’s fractional market capitalization ($5.3 billion) when compared to the Dow ($5.23 trillion), the country is on the “fringe of frontier status”.

With forecasts of economic growth pointing to further acceleration, Jamaica is “slowly emerging from recession while struggling with one of the world’s highest debt burdens”.

Twenty-nine of the 57 stocks traded on the main and junior markets in Jamaica saw year-over-year post-tax profits rise 10 percent or more. Eight of those saw profits spike more than 100 percent, led by the Jamaica Stock Exchange Group’s 1,658 percent growth for a $1.2 million profit for the 12 months that ended in September.

According to Business Development Manager at Barita Investments Limited, Sean Taylor, a number of stocks are still trading at attractive levels with trading ratios of 6-8 times price to earnings and close to half of their book value, creating a potentially good entry point in the long-term. He says “the over $60 billion liquidity expected to hit the market next year, along with the proposition from the Finance Minister to utilise the exchange to divest state-owned enterprises, all bode well for the local equities market going into 2016 “.

Jamaica's Stock Exchange Performance as tracked by Bloomberg

Jamaica’s Stock Exchange Performance as tracked by Bloomberg

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John Mahfood “I Listed on the JSE to Raise Capital for My Business”

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8 years ago

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November 24, 2016

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JSE Online Trading Platform

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8 years ago

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November 24, 2016

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Grace Stockholders To Vote On 3-for-1 Stock Split Today

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8 years ago

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July 11, 2016

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Shareholders of GraceKennedy Limited will this morning meet to consider and, if thought fit, approve a recommendation for a three-for-one stock split.

If approved, shareholders will receive three stocks for each one that is currently held.

According to group CEO Don Wehby, the stock units with a market price of J$115.00 per stock unit prior to the split will now increase threefold with an initial price of J$38.33 per stock unit

He says the stock split would allow GK’s stock to be made available to more investors while further enhancing the market for the shares.

Ahead of this morning’s Extraordinary General Meeting, GK last week issued 59,360 additional GK shares.

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UK Loses S&P Triple A Rating

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8 years ago

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June 27, 2016

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The UK has lost its top AAA credit rating from ratings agency S&P following the country’s vote to leave the EU.

S&P says the referendum result could lead to “a deterioration of the UK’s economic performance, including its large financial services sector”.

Earlier the pound plunged to a 31-year low against the dollar, and UK markets closed lower for a second day. On Friday,

Moody’s cut the UK’s credit rating outlook to negative.

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Caribbean Hotels Named In Jetsetters’ 2016 Best Of The Best

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8 years ago

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June 27, 2016

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Three Caribbean hotels have been named in US-based travel and lifestyle magazine Jetsetter’s 2016 Best of the Best awards.

The list which was published recently, highlighted the world’s 20 best hotels in categories ranging from Best Over-The-Top Luxury to Best Safari Lodge.

Included in the list were Antigua and Barbuda’s Barbuda Belle Luxury Beach Hotel, Anguilla’s Zemi Beach House Resort & Spa, and St Lucia’s BodyHoliday.

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