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

Indexes in Bahams Gain, Trinidad and Jamaica Ease

Author: Mukesh Buch
Last Update: 10:30 AM ET February 13 2014

6:00 PM February 12, Miami – Caribbean market indexes traded mixed and investors looked ahead to earnings. Indexes in The Bahamas gained 0.2% but in Trinidad and Jamaica eased. LIME extended gains after the wireless carrier estimated annual results to profit.

The JSE Market Index fell 59.75 to 79,133.76 and The JSE Select Index slid 0.19 to close at 2,255.05.

Trinidad Composite Index slipped 0.54 to 1,193.92 and Bahamas Stock Exchange Index jumped 2.67 or 0.2% to 1,524.60.

Of the 16 stocks traded on Jamaica Stock Exchange, 7 increased, 6 decreased and 3 were unchanged.

Jamaican dollar hovered near its low and average buy rate against the U.S. dollar was 107.15 and average sell rate was 107.79 according to the website of Bank of Jamaica.

In Kingston trading today, 5.45 million units changed hands worth J$6.26 million and LIME the most active list with 4.96 million units followed by Berger Paints Ltd. with 191,103 units.

LIME rose 2 cents to 35 cents and traded 4,956,669 and Caribbean Cement Company Ltd. jumped 37 cents to J$4.90 and traded 40,700. Desnoes and Geddes Ltd. gained 9 cents to J$5.09 and traded 28,038.

National Commercial Bank of Jamaica Ltd. fell 9 cents to J$17.99 and traded 70,482 and Jamaica Broilers Ltd. slid 3 cents J$4.83 and traded 42,938. Carreras Limited dropped 35 cent J$34.65 and traded 42,528.

Trinidad Market Overview

Trinidad Composite Index slipped 0.54 to 1,193.92 and of the 11 stocks traded 3 advanced, 4 declined and 4 closed unchanged.

Republic Bank Mills led the most active list and rose 2 cents to TT$117.02 and traded 10,437 shares followed by Ansa McAL Limited added 1 cent to TT$66.51 and traded 3,346 and Neal & Massy Holdings Limited gained 7 cents to TT$66.32 and traded 395.

Sagicor Financial Corporation dropped 18 cents to TT$7.80 and traded 81,045 shares and Clico Investment Fund fell 4 cents to TT$22.01 and traded 8,440. GraceKennedy Limited slid 1 cent to TT$3.67 and traded 1,944.

World Market Review

U.S. investors paused after the best 4-day market index gain in a year. European markets advanced and Asian markets surged.

China reported a sharp increase in exports and imports in January and the best January month surplus since 2009.

U.S. indexes reversed earlier gains of as much as 0.2% to a loss after investors paused following the best 4-day index gain in a year following reassuring comments from the newly appointed Fed Chairman Janet Yellen.

The U.S. House approved the federal government’s borrowing authority without any conditions attached after Republican Party leaders dropped all policy demands to avoid a confrontation in an election year.

The debt ceiling was suspended until February 7 after a bipartisan deal in October that terminated a 16-day government shutdown.

If the measure had failed to pass the house, the next time lawmakers could vote on the bill would be on February 25 and too close to the deadline set by the Treasury Secretary when extraordinary maneuvers to sustain government finances would run out.

Lawmakers in a 221-to-201 vote approved the first in increase in debt ceiling without any conditions attached since 2009. Two Democrats voted no and 28 Republicans voted yes.

In the U.S., Deere & Co net rose 5%. DaVita net and sales climbed. Hospira profit surged. Lorillard declined 5%. Owens Corning net swung to profit on 10% rise in sales.

Thomson Reuters net swung to a loss as revenue dropped. Valspar net fell 3% but sales soared 9%.

Market indexes in Europe extended gains for the second day in a row and the Bank of England lifted its economic growth outlook and sounded more optimistic on the employment gains as well.

The central bank revised higher economic growth in 2014 to 3.4% from the 2.8% estimate in November.

In European trading, FTSE 100 index fell 1.3 to 6,671.04 and in Frankfurt the DAX index increased 0.5% or 49.2 to 9,528.06.

In Paris, CAC 40 index gained 0.5% or 21.30 to 4,305.07.

In the Europe, Heineken net plunged 53% to €1.4 billion. ING Groep profit tumbled 64% to €539 million. Reckitt Benckiser net dropped 4% to £1.7 billion.

Societe Generale net swung to a profit €322 million and revenue surged 13%. TeleCity sales and profit climbed.