|Caribbean Markets||Index||Value||Change +-%||USD||EURO||GBP||CAD|
|Bahamas||BISX All Share Index||1,416.74||7.04||0.50%||1.00||1.26||1.53||1.60|
|Barbados||BSE 1000 Index||1,094.82||-1,990.31||-64.51%||1.98||2.53||3.00||1.94|
|Jamaica||JSE Market Index||85,379.88||106.73||0.13%||98.42||8.14||149.79||95.34|
6:00 PM, April 13, 2012 Miami – The benchmark index in Jamaica gained a fraction on Friday but fell 0.3% in the week. Trinidad index closed nearly flat on Friday and for the week. Scotia Group Jamaica and Pan Caribbean Financial Services led the most active list in Kingston trading.
The JSE Market Index gained 250.81 or 0.3% to 91,882.7 and the JSE Select Index increased 13.78 to close at 2,763.46. For the week, the JSE Market Index fell 0.3%.
Trinidad Composite Index slumped 0.77 to 1,010.64 and for the week the index increased 0.02%. Bahamas Stock Exchange Index slipped 0.50 to 1303.91.
Of the 15 stocks traded on Jamaica Stock Exchange, 4 increased, 8 decreased and 3 were unchanged.
In today’s trading in Kingston, 1,711,866 shares changed hands worth J$27 million. Scotia Group Jamaica led the most active list with a trading of 393,695 shares followed by Pan Caribbean Financial Services with 387,709.
Scotia Group Jamaica soared 88 cents to J$23.50 and traded 393,695 and Cable & Wireless Jamaica Ltd. added 1 cent to 16 cents and traded 164,869. Kingston Wharves Ltd. added 1 cent to J$5.06 and traded 158,484.
Pan Caribbean Financial Services decreased 38 cents to J$26 and traded 387,709 and Sagicor Life Jamaica Limited fell 1 cent to J$10.80 and traded 231,696. Jamaica Broilers Ltd. declined 6 cents to J$4.84 and traded 151,102.
Trinidad Market Overview
Trinidad Composite Index slumped 0.77 to 1,010.64 and of the 9 stocks traded 4 advanced, 2 declined and 3 closed unchanged.
Republic Bank Limited led the most active list with a rise of 1 cent to TT$95.00 and traded 5,828 and Guardian Holdings Limited increased 1 cent to TT$14.01 and traded 5,645. One Caribbean Media Limited gained 1 cent to TT$12.12 and traded 795.
National Commercial Bank Jamaica Limited declined 9 cents to TT$2.00 and traded 12,225 and Jamaica Money Market Brokers Limited fell 2 cents to 80 cents and traded 2,100.
World Market Review
U.S. indexes traded lower on the final day of this week after earnings season kicked in full swing.
International developments weighed on the market sentiment after China reported steady decline in the economic growth in the first quarter and Spanish credit default swap rose to a record high as investor perception deteriorates.
The Chinese gross domestic product expanded 8.1% on an annual basis in the first quarter compared to 8.9% rise in the fourth quarter, the weakest in 11 quarters.
In earnings news, JP Morgan quarterly net fell on 6% rise in revenues and Wells Fargo profit increased 11%. The improving economic backdrop helped two large banks to increase mortgage fees and revenues.
JP Morgan Chase net declined to $5.38 billion or $1.31 a share from $5.56 billion or $1.28 a year ago and revenues increased 6% to $27.4 billion. CEO Jamie Dimon indicated loan loss reserve is likely to decline and bank is expected to release more capital for lending.
Wells Fargo earnings in the fourth quarter increased to $4.25 billion from $3.76 billion and earnings per share increased to 75 cents from 67 cents.
In other news, Coinstar soared on first quarter outlook and Google Inc said first quarter net surged 61% to $2.89 billion and announced a 2-for-1 stock split. India based software services provider Infosys declined 7% on lowered fiscal revenue outlook. iGATE first quarter net soared 34.6%.
Across the Atlantic, German and Spanish inflation eased but Italian inflation increased in March. Hungarian and Italian production and Dutch surplus declined in February. UK wholesale price inflation eased to a two-year low in March.
The European indexes declined and rising Italian and Spanish yields dampened investor sentiment. The construction and equipment maker Bauer said full year 2011 profit declined driven by poor performance in its construction segment.