|Caribbean Markets||Index||Value||Change +-%||USD||EURO||GBP||CAD|
|Bahamas||BISX All Share Index||1,416.28||-0.04||0.00%||1.00||1.26||1.53||1.60|
|Barbados||BSE 1000 Index||1,094.82||-1,990.31||-64.51%||1.98||2.61||3.07||1.94|
|Jamaica||JSE Market Index||87,805.82||-635.15||-0.72%||100.87||8.14||155.97||98.95|
6:00 PM, April 11, 2012 Miami – Caribbean markets slipped in a quiet trading and markets indexes in Jamaica and in Trinidad confirmed the holding pattern for the second week in a row. World markets rebounded after markets in New York and Europe declined for five days in a row.
The JSE Market Index dropped 363.92 or 0.4% to 91,620.84 and the JSE Select Index decreased 14.99 to close at 2,750.28.
Trinidad Composite Index slipped 0.38 to 1,011.08.
Of the 22 stocks traded on Jamaica Stock Exchange, 6 increased, 11 decreased and 5 were unchanged.
In today’s trading in Kingston, 1,698,164 shares changed hands worth J$14.3 million. Sagicor Life Jamaica Limited led the most active list with a trading of 1,069,125 shares followed by Capital & Credit Financial Group Limited with 178,520.
Sagicor Life Jamaica Limited increased 7 cents to J$10.80 and traded 1,069,125 and Jamaica Money Market Brokers Ltd. 8.75% added 5 cents to J$3.55 and traded 43,000. Radio Jamaica Ltd. added 9 cents to J$2.48 and traded 20,880.
Capital & Credit Financial Group Limited decreased 5 cents to J$4.50 and traded 178,520 and Kingston Wharves Ltd. dropped 20 cents to J$5.05 and traded 94,832. Caribbean Cement Company Ltd. declined 14 cents to J$2.17 and traded 48,500.
Trinidad Market Overview
Trinidad Composite Index slipped 0.38 to 1,011.08 and of the 13 stocks traded 9 advanced, 1 declined and 3 closed unchanged.
Neal & Massy Holdings Limited led the most active list with rose of 1 cent to TT$46.00 and traded 63,781 and Sagicor Financial Corporation increased 1 cent to TT$7.50 and traded 15,000. National Flour Mills Limited advanced 5 cents to 70 cents and traded 14,303.
Angostura Holdings Limited slumped 50 cents to TT$8.50 and traded 1,000.
World Market Review
U.S. indexes reversed to gains on Wednesday and import prices rose more than estimated in March. The mild market rebound was supported by better than expected earnings from Alcoa.
Home builders traded up 4% after a survey of sales managers conducted by Wells Fargo showed better than expected orders by two third of the respondents.
In corporate news, Alcoa Inc reported better than expected quarterly profit and reaffirmed global demand for aluminum to grow 7% in 2012. Owens-Illinois Inc soared more than 7% after the glass bottle maker forecasted 35% increase in earnings per share on better than expected production and cost control.
Adtran first quarter net tumbled to $13 million. Progressive Corp. first quarter net dropped 29% to $257.6 million. Titan Machinery fourth quarter revenue surged 65% and lifted 2013 outlook.
Apple Inc declined more than 1% after the U.S. Department of Justice sued the company, Macmillan and a subsidiary of Pearson Plc alleging price collusion on e-book prices. The court filings showed that publishing units of CBS Corp, News Corp and Lagardere SCA settled their cases with the government.
The European indexes rebounded but German bond auction failed to meet expectations and bond yields of Spain and Italy edged lower. Germany raised €3.87 billion and Italy raised €11 billion from bond auctions today. Nokia cut devices and services outlook for the first quarter. Automakers report strong monthly sales.
German wholesale price index and Hungarian annual inflation slowed in March. Spanish industrial output dropped and Estonian deficit widened in February.
The UK indexes closed higher led by mining and banking stocks. UK retail sales and Irish construction activity and sentiment climbed in March. Barclays was in focus of excessive chief executive pay.