6:00 PM, April 24, 2012 Miami – Caribbean markets traded mixed and trading volume recovered in Jamaica. The benchmark indexes in Jamaica and Trinidad gained but in the Bahamas decreased.

The JSE Market Index increased 68.97 or 0.1% to 91,799.48 and the JSE Select Index gained 4.55 to close at 2,753.88.

Trinidad Composite Index slumped 4.78 or 0.5% to 1,006.02 and Bahamas Stock Exchange Index rose 0.07 to 1310.46.

Of the 17 stocks traded on Jamaica Stock Exchange, 8 increased, 4 decreased and 5 were unchanged.

In today’s trading in Kingston, 1,059,470 shares changed hands worth J$19.3 million. Scotia Group Jamaica led the most active list with a trading of 287,310 shares followed by Desnoes and Geddes Ltd. with 163,807.

Scotia Group Jamaica soared 4 cents to J$23.43 and traded 287,310 and Desnoes and Geddes Ltd. added 1 cent to J$4.09 and traded 163,807. Sagicor Life Jamaica Limited added 2 cents to J$10.81 and traded 52,199.

Carreras Limited decreased 25 cents to J$61.60 and traded 106,790 and Jamaica Broilers Ltd. fell 2 cents to J$4.81 and traded 64,000. Caribbean Cement Company Ltd. declined 15 cents to J$1.80 and traded 42,932.

Trinidad Market Overview

Trinidad Composite Index slumped 4.78 or 0.5% to 1,006.02 and of the 5 stocks traded none advanced, 3 declined and 2 closed unchanged.

National Enterprises Limited dropped 59 cents to TT$14.15 and traded 2,500 and Neal & Massy Holdings Limited decreased 14 cents to TT$46.11 and traded 550. Republic Bank Limited declined 50 cents to TT$94.50 and traded 40.

World Market Review

U.S. indexes closed higher but the tech heavy Nasdaq fell ahead of earnings release from Apple Inc. Earnings drove the market sentiment and a number of companies reported better than expected earnings.

In economic news, U.S. metropolitan home prices rose February but market stabilization is tentative and the government said single family home sales dropped to their lowest level in four months but sales in the previous three months were revised higher. Also, a separate private report suggested U.S. consumer confidence fell slightly in April.

In the earnings news, 3M first quarter net increased 4% to $1.12 billion. AT&T first quarter net increased 5.2% to $3.58 billion. Coach third quarter net soared 21% as China sales grew 60%.

After the close, Apple Inc reported quarterly revenues increased to $39.2 billion compared to $24.7 billion and net profit surged to $11.6 billion from $6 billion or $12.30 a share from $6.40 a share.

Gross margins increased to 47.1% from 41% and international sales were 64% of total sales. In the quarter, Apple sold 35.1 million iPhones, 88% increase in the unit sales and iPad sales soared 151% to 11.8 million. However, iPod sales declined 15% to 7.7 million in the period.

Facebook first quarter net declined 12% to $205 million. Illinois Tool first quarter net declined 22% to $486 million.

AT&T gained after the release of earnings and said it sold 3.3 million fewer iPhones in its first quarter compared to a quarter ago. The fewer sales of popular gadget added to market jitters in the tech sector ahead of Apple earnings after the close.

Big Lots, the fast growing discount retailer plunged 25% after it announced a surprise same store sales decline of 3.6% compared to its earlier estimate of an increase between 2% and 4%. The company said consumable, once its fastest growing category suffered in the quarter and dragged the overall sales growth.

The European indexes rebounded after debt auctions by Spain, Italy and the Netherlands. French sentiment improved in April. The UK public sector net borrowing rose in March. Shell agreed to buy Cove for £1.12 billion.

French confidence improved in April and the index was the highest since November 2010. UK public borrowing rose in March as the government struggles with revenues and fees.