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Derrimon Trading Company Limited (DTL) Signs Syndicated Facility Published: 11 June 2018

Derrimon Trading Company Limited (DTL) has advised  that the Company has signed a J$625,000,000 Syndicated Facility, arranged and structured by Sagicor Bank Jamaica Limited and First Global Bank Limited at an attractive interest rate. DTL states that the Facility will be amortized over a period of ten (10) years.

DTL advise also that the Facility will be utilized to fully liquidate current short-term debts of the Company and immediately lower their net interest expense

 

Source: Jamaica Stock Exchange

Italy Exit From Euro Not on The Agenda Published: 11 June 2018

Italian Finance Minister Giovanni Tria said that there was no discussion about his country leaving the euro and that the government would block any market conditions that would “push toward an exit” in a weekend newspaper interview. Italian stocks and bonds rallied this morning following the reassurances, with the yield on two-year government debt falling more than 50 basis points and the FTSE MIB Index gaining more than 2 percent. There was less good news from economic data, which showed that industrial production had a surprise decline of 1.2 percent in April. 

Source: Bloomberg

 

A Big Week Ahead Published: 11 June 2018

As well as the Singapore summit, there is a huge amount going on this week. The Federal Reserve is expected to hike rates on Wednesday, while the European Central Bank may outline how it intends to end its asset purchase program on Thursday. The Bank of Japan has its meeting on Friday. Tomorrow, there is a major test for British Prime Minister Theresa May as the Brexit bill goes to a vote in parliament, with this morning’s disappointing economic data already putting pressure on the pound. Thursday also sees the start of the soccer World Cup in Russia with a match between the hosts and Saudi Arabia. 

Source:  Bloomberg

G-7, Go Sing. Published: 11 June 2018

This weekend’s G-7 summit in Canada, despite the late dramatics, ended pretty much as analysts had expected, with President Donald Trump rejecting the communique issued for the meeting. While there was some selling of the Canadian dollar when markets opened, reaction has generally been benign. Trump, meanwhile, has gone to Singapore for his meeting with North Korea’s Kim Jong Un, which is due to begin at 9:00 p.m. Eastern Time tonight. The president has said that he will know Kim’s intentions within the “first minute” of the meeting. 

 

Source : Bloomberg

Sagicor Group Jamaica Limited (SJ) Trading in Shares Published: 08 June 2018

Sagicor Group Jamaica Limited (SJ) has advised that during the period May 31 to June 5, 2018, two connected parties and two officers sold a total of 911,516 SJ shares and on June 1, 2018, an officer purchased 162,516 SJ shares.

Portland JSX Limited (PJX) – Annual General Meeting Published: 08 June 2018

Portland JSX Limited (PJX) has advised that their second Annual General Meeting will be held on Wednesday, July 11, 2018, at 12:00 noon in Castries, St. Lucia. PJX advised further that the Company is in the process of getting its Annual Report ready for delivery to the Jamaica Securities Depository within the next two weeks to enable submission to shareholders within the 21 clear days’ notice period.

 
 

Derrimon Trading Company Limited (DTL) Trading in Shares Published: 08 June 2018

Derrimon Trading Company Limited (DTL) has advised that two directors purchased a total of 3,000,000 DTL shares and a director sold 6,000,000 DTL shares. These transactions were conducted on May 18, 2018.