Caribbean Markets Index Value   Change +-% USD EURO GBP CAD
Bahamas BISX All Share Index1,827.47-0.02 0.00% 1.00 1.26 1.53 1.53
Barbados BSE 1000 Index656.560.00 0.00 1.98 2.13 2.82 1.37
Jamaica JSE Market Index156,273.84-4,573.60 -2.84% 120.31 112.32 172.13 80.51
Trinidad TTSE Composite1,164.821.15 0.10% 6.40 6.90 8.96 4.45

Caribbean Market Update

A Rebound in Jamaican Market Indexes

Author: Mukesh Buch
Last Update: 8:28 AM ET February 19 2014

6:00 PM February 18, Miami – Market indexes in Jamaica increased 0.6% but in Trinidad and in The Bahamas eased. World markets struggled and reacted to central bank actions. Japan eased terms of private lending facilities and People’s Bank of China drained financial liquidity.

The JSE Market Index jumped 480.37 or 0.6% to 79,916.92 and The JSE Select Index gained 22.75 to close at 2,279.56.

Trinidad Composite Index fell 0.83 to 1,192.38 and Bahamas Stock Exchange Index slid 0.88 to 1,512.60.

Of the 16 stocks traded on Jamaica Stock Exchange, 9 increased, 3 decreased and 4 were unchanged.

Jamaican dollar hovered near its low and average buy rate against the U.S. dollar was 107.29 and average sell rate was 107.89 according to the website of Bank of Jamaica.

In Kingston trading today, 1.5 million units changed hands worth J$26.1 million and Carreras Limited the most active list with 570,563 units followed by Jamaica Money Market Brokers Ltd. with 552,000 units.

Carreras Limited climbed J$1.37 to J$36.48 and traded 570,563 and LIME rose 1 cent to 34 cents and traded 328,336. Mayberry Investments Ltd gained 4 cents to J$1.89 and traded 19,998.

Jamaica Money Market Brokers Ltd. slid 1 cent to J$7.48 and traded 552,000 and Caribbean Cement Company Ltd. dropped 27 cents J$4.70 and traded 3,800. Seprod Limited slipped 9 cents J$10.91 and traded 2,163.

Trinidad Market Overview

Trinidad Composite Index fell 0.83 to 1,192.38 and of the 9 stocks traded 3 advanced, 3 declined and 3 closed unchanged.

Jamaica Money Market Brokers Limited led the most active list and rose 1 cent to 50 cents and traded 100,000 shares followed by Neal & Massy Holdings Limited added 2 cents to TT$66.27 and traded 7,505 and One Caribbean Media Limited increased 12 cents to TT$19.14 and traded 775.

Sagicor Financial Corporation slid 4 cents to TT$7.70 and traded 37,325 shares and First Citizens Bank Limited lowered 2 cents to TT$38.98 and traded 2,107. ScotiaBank Trinidad & Tobago Limited slumped 50 cents to TT$72 and traded 1,167.

World Market Review

U.S. market indexes struggled and a $25 billion deal between Forest Lab and Actavis dominated market sentiment. Coca-Cola declined after revenues and earnings eased.

Home builders fell. Kansas City Southern dropped 6% after a legislation in Mexico proposed opening railroad transportation market.

U.S. stocks struggled and merger deal of $25 billion overshadowed weak economic indicators in the U.S. and Europe and central bank actions in China and Japan.

S&P 500 index increased 1.30 to 1,839.93 and the Nasdaq Composite Index added 21.29 or 0.5% to 4,265.31.

On the U.S. earnings front, Coca-Cola net fell 8% and revenue dropped 4%. Duke Energy net surged 51% and revenue climbed 25%.

Genuine Parts net dropped 6%. Medtronic net plunged 23%. Waste Management net swung to a loss.

European market indexes struggled but managed to close higher after investors focused on German investor confidence data.

The confidence index in the largest economy in the euro zone declined to 55.7 in February from 61.7 in January, The ZEW Center in Mannheim reported today.

UK consumer price index increase slowed to 1.9% rate in January, down from 2% in December according to the Office for National Statistics.

In European trading, FTSE 100 index gained 0.5% or 30.7 to 6,767.03 and in Frankfurt the DAX index rose 0.05% or 5 to 9,661.76.

In Paris, CAC 40 index slid 0.1% or 6.09 to 4,329.08.

In the European earnings news, Casino Guichard net declined 19% to €853 million but sales soared 16%. InterContinental Hotels tumbled 31%.

John Wood profit in the year soared 14%. MTU Aero net fell 1% to €172 million. Pandora net profit surged 85% and plans to buy back 2.4 billion kronor of shares.