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 Jamaica and Bahamas Gain

Author: Mukesh Buch
Islandjournal.net
Last Update: 8:51 AM ET March 11 2014


6:00 PM March 10, Miami – Market indexes in Jamaica and Bahamas closed higher but in Trinidad declined. Jamaican dollar closed at a new record low and extended losses for the thirteenth month in a row.

The JSE Market Index jumped 307.89 or 0.4% to 77,383.82 and The JSE Select Index rose 9.93 to close at 2,312.94.

Trinidad Composite Index slipped 1.70 to 1,188.30 and Bahamas Stock Exchange Index jumped 4.89 or 0.3% to 1,510.18.

Of the 19 stocks traded on Jamaica Stock Exchange, 9 increased, 5 decreased and 5 were unchanged.

Jamaican dollar hovered near its low and average buy rate against the U.S. dollar was 108 and average sell rate was 108.81 according to the website of Bank of Jamaica.

In Kingston trading today, 4.71 million units changed hands worth J$13.05 million and LIME the most active list with 3.78 million units followed by Jamaica Money Market Brokers Limited 8.75% with 252,200 units.

LIME gained 7 cents to 66 cents and traded 3,778,521 and Mayberry Investments Ltd increased 10 cents to J$2 and traded 195,661. GraceKennedy Ltd. jumped 79 cents to J$59.95 and traded 101,500.

Jamaica Money Market Brokers Limited 8.75% slid 3 cents to J$3.01 and traded 252,200 and Pulse Investments fell 11 cents to 76 cents and traded 106,700. Sagicor Group Jamaica Limited lowered 3 cents J$9.06 and traded 79,275.

Trinidad Market Overview

Trinidad Composite Index slipped 1.70 to 1,188.30 and of the 9 stocks traded 4 advanced, 3 declined and 2 closed unchanged.

National Flour Mills Limited led the most active list and rose 3 cents to TT$1.10 and traded 31,780 shares followed by Republic Bank Limited added 2 cents to TT$117.52 and traded 8,987 and Clico Investment Fund gained 4 cents or TT$21.54 and traded 5,180.

Trinidad Cement Limited fell 2 cents to TT$2.16 and traded 5,000 shares and ScotiaBank Trinidad & Tobago Limited declined 98 cents to TT$71.04 and traded 637. Jamaica Money Market Brokers Limited slid 2 cents to 48 cents and traded 149.

World Market Review

In the U.S. merger and acquisitions news, Chiquita Brands International Inc (CQB), the bananas and packaged salads marketer and distributor today agreed to acquire Ireland-based Fyffes Plc in an all-stock transaction for $526 million or €379 million.

Chiquita shareholders will own about 50.7% of the new company ChiquitaFyffes and Fyffes shareholders will own approx 49.3% on a fully diluted basis.

McDonald''s Inc (MCD), the fast food restaurant chain operator said same-restaurant sales in February dropped 1.4% in the U.S. hurt by tough winter weather and worldwide sales at restaurants open at least 13 months fell 0.3%

In the European trading, FTSE 100 index slid 0.2% or 12.89 to 6,699.78 and in Frankfurt the DAX index fell 0.4% or 39.66 to 9,311.09.

In Paris, CAC 40 index rose 0.4% or 16.89 to 4,383.31.

In the Europe, Bouygues agreed to sell its network assets to Iliad for €1.8 billion. Diana’s second auction round inches closer with two bids.

Glaxo raise its stake in its Indian business unit to 75% for $1.05 billion.

Hochtief plans a takeover bid for $1.15 billion for Australia based Leighton Holdings.


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