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

Active Trading in Jamaica, Slight Rebound in Caribbean Markets

Author: Mukesh Buch
Last Update: 8:28 AM ET February 26 2014

6:00 PM February 25, Miami – Market indexes in Jamaica and in Trinidad edged higher and trading volume in Kingston shot up near the high in the year. World markets were on the defensive as investors digested a barrage of earnings in the U.S. and Europe.

The JSE Market Index rose 14.97 to 79,152.65 and The JSE Select Index edged up 2.13 to close at 2,267.19.

Trinidad Composite Index gained 1.98 to 1,192.59 and Bahamas Stock Exchange Index closed unchanged at 1,512.65.

Of the 19 stocks traded on Jamaica Stock Exchange, 5 increased, 6 decreased and 8 were unchanged.

Jamaican dollar hovered near its low and average buy rate against the U.S. dollar was 107.39 and average sell rate was 108.14 according to the website of Bank of Jamaica.

In Kingston trading today, 9.48 million units changed hands worth J$152.8 million and National Commercial Bank of Jamaica Ltd. Fund Limited led the most active list with 7.40 million units followed by Desnoes and Geddes Ltd. with 901,564 units.

Desnoes and Geddes Ltd. increased 8 cents to J$5 and traded 901,564 and LIME added 1 cent to 39 cents and traded 495,924. Scotia Group Jamaica gained 7 cents to J$20.63 and traded 162,706.

Jamaica Broilers Ltd. slipped 9 cents to J$4.81 and traded 50,548 and Caribbean Cement Company Ltd. decreased 25 cents to J$4.72 and traded 36,736. Gleaner Company fell 5 cents J$1.10 and traded 22,843.

Trinidad Market Overview

Trinidad Composite Index gained 1.98 to 1,192.59 and of the 12 stocks traded 3 advanced, 3 declined and 6 closed unchanged.

Scotia Investments Jamaica Limited led the most active list and added 2 cents to TT$1.54 and traded 129,662 shares followed by National Commercial Bank Jamaica Limited gained 10 cents to TT$1.15 and traded 59,456 and ScotiaBank Trinidad & Tobago Limited jumped 28 cents to TT$72.53 and traded 1,050.

Clico Investment Fund fell 7 cents to TT$21.51 and traded 71,522 shares and First Citizens Bank Limited declined 44 cents to TT$38.48 and traded 4,180 shares. Sagicor Financial Corporation slid 1 cent to TT$7.69 and traded 2,040 shares.

World Market Review

U.S. market indexes meandered on valuation worries and on-going turmoil in Europe and weakness in Chinese manufacturing data weighed on the sentiment.

On the U.S. earnings front, American Tower net plunged 26% but sales surged 23%. Domino’s net soared 19%. Home Depot net slid 0.8% to $1 billion. EOG Resources net swung to a profit. Macy’s net climbed 11%. ONEOK profit dropped 19%. Toll Brothers net surged.

Domino’s Pizza, Inc (DPZ), the pizza delivery company stated total revenues in the fourth-quarter ending in December advanced 5% to $566.5 million. Net income in the quarter soared 19% to $44.7 million or 78 cents a diluted share.

The Home Depot, Inc (HD), the home-improvement retailer said total sales in the fourth-quarter ending in December increased 3% to $17.7 billion. Comparable store sales in the quarter advanced 4.4%. Net earnings in the quarter slid 0.8% to $1.01 billion or 73 cents a diluted share.

Macy’s, Inc (M), the specialty retailer stated net sales in the fourth-quarter ending in December fell 1.6% to $9.2 billion. Comparable store sales in the quarter increased 1.4%. Net income in the quarter climbed 11% to $811 million or $2.16 a diluted share.

In European trading, In London trading, FTSE 100 index dropped 0.8% or 51.38 to 6,814.48 and in Frankfurt the DAX index slipped 0.4% or 38.26 to 9,670.68.

In Paris, CAC 40 index fell 0.4% or 18.40 to 4,400.73.

On the European earnings front, Ashmore profit plunged 32%. Aixtron net loss narrowed. Fresenius forecasted sales and net to grow.

GKN Profit in the year declined 16% to £392 million. St. James''s Place said pre-tax profit jumped 42%.

Vivendi net surged €1.9 billion and adjusted net income in the year dropped 9.7% to €1.540 billion compared to last year.

The company said net debt in the year reduced to €11.1 billion from €13.4 billion at year-end 2012.

Yesterday, Vivendi confirmed it has been approached by cable-TV group Numericable''s holding company Altice over a possible tie up with its mobile phone unit SFR, but not received any formal offer.

French media reported that Altice would buy above 50% in SFR while Vivendi may retain 32%.