|Caribbean Markets||Index||Value||Change +-%||USD||EURO||GBP||CAD|
|Bahamas||BISX All Share Index||1,416.66||-0.06||0.00%||1.00||1.26||1.53||1.60|
|Barbados||BSE 1000 Index||1,094.82||-1,990.31||-64.51%||1.98||2.53||2.97||1.92|
|Jamaica||JSE Market Index||86,275.28||582.03||0.68%||98.47||8.14||148.02||94.17|
6:00 PM, April 12, 2012 Miami – Caribbean markets advanced but gains were muted ahead of earnings season in two weeks. Trading volume in Jamaica was subdued and market indexes in the Bahamas and in the Trinidad barely budged.
The JSE Market Index increased 11.05 to 91,631.89 and the JSE Select Index fell 0.60 to close at 2,749.68.
Trinidad Composite Index gained 0.33 to 1,011.41 and Bahamas Stock Exchange Index rose 0.01 to 1304.41.
Of the 18 stocks traded on Jamaica Stock Exchange, 8 increased, 8 decreased and 2 were unchanged.
In today’s trading in Kingston, 850,170 shares changed hands worth J$12.2 million. Supreme Ventures Limited led the most active list with a trading of 158,145 shares followed by Jamaica Money Market Brokers Ltd. with 128,140.
Jamaica Money Market Brokers Ltd. soared 59 cents to J$11.11 and traded 128,140 and Sagicor Life Jamaica Limited added 1 cent to J$10.81 and traded 119,068. GraceKennedy Ltd. added 89 cents to J$60.90 and traded 61,931.
Supreme Ventures Limited decreased 28 cents to J$2.57 and traded 158,145 and Mayberry Investments Ltd fell 1 cent to J$2.50 and traded 98,197. Desnoes and Geddes Ltd. declined 14 cents to J$4.70 and traded 37,397.
Trinidad Market Overview
Trinidad Composite Index gained 0.33 to 1,011.41 and of the 9 stocks traded 3 advanced, 1 declined and 5 closed unchanged.
Supreme Ventures Limited led the most active list with rose of 1 cent to 15 cents and traded 604,126 and ScotiaBank Trinidad & Tobago Limited increased 1 cent to TT$54.01 and traded 200. The West Indian Tobacco Company Limited advanced 5 cents to TT$67.06 and traded 73.
Republic Bank Limited fell 1 cent to TT$94.99 and traded 2,236.
World Market Review
Stocks in New York trading closed sharply higher and extended gains for the second day in a row after two Fed officials supported low interest rate view through 2014. In early trading stocks were under pressure after initial claims of jobless benefits increased in the last week.
Weekly jobless claims rose to a ten-week high, trade deficit narrowed in February and producer price index was flat in March.
The troubled Japanese electronics maker Sony Corp planned to slash 10,000 jobs in the current fiscal year as the company refocuses on its hardware strategy after a failed attempt to diversify into content and film making in Hollywood.
In other corporate news, Argan fourth quarter net increased. Commerce Bancshares first quarter net increased to $65.8 million. Fastenal first quarter net surged 26%.
Rite Aid fourth quarter net loss to $163.8 million and expects to continue in fiscal 2013 and McKesson Corp soared 4% after the largest U.S. drug distributor won a $31.6 billion contract from the Department of Veterans Affairs.
The luxury retailer Nordstrom agreed to sell Bonobos clothing across its network of stores and also led $16.4 million minority investment round that included Accel Partners and Lightspeed Venture Partners.
Hewlett Packard soared 7% after two independent research firms estimated higher quarterly PC unit sales for the company. Gartner said global PC shipments increased 1.9% to 89 million units reversing the earlier prediction of 1.2% decline in the first quarter.
The European indexes traded sideways after Italy sold €2.9 billion of 3-year bonds at higher borrowing costs. Output in the euro area improved in February and Greek jobless rate climbed in January. The International Energy Agency maintained oil demand outlook for 2012.
Industrial production in the euro area and Spanish leading economic index rose in February. Greek jobless rate jumped to a record high of 21.8% in January. Inflation in France increased but in Portugal slowed to 7-month low in March.
The UK indexes advanced and trade deficit widened in February and Irish inflation rose in March. Ashmore Group assets under management increased 9.1% in the third quarter.