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 Trinidad, Jamaica Rebound; RJR Slumps 15%

Author: Mukesh Buch
Last Update: 10:02 AM ET February 27 2014

6:00 PM February 26, Miami – Market indexes in Jamaica and in Trinidad rebounded in active trading. Radio Jamaica Ltd slumped 15% in heavy trading. Jamaican dollar drifted to a new low and extended its losses to thirteenth month in a row.

The JSE Market Index gained 56.34 to 79,208.99 and The JSE Select Index rose 16.24 to close at 2,283.43.

Trinidad Composite Index rose 0.48 to 1,193.07 and Bahamas Stock Exchange Index fell 0.04 to 1,512.61.

Of the 21 stocks traded on Jamaica Stock Exchange, 8 increased, 9 decreased and 4 were unchanged.

Jamaican dollar hovered near its low and average buy rate against the U.S. dollar was 107.61 and average sell rate was 108.21 according to the website of Bank of Jamaica.

In Kingston trading today, 8.56 million units changed hands worth J$57.8 million and Radio Jamaica Ltd. led the most active list with 3.10 million units followed by National Commercial Bank of Jamaica Ltd. with 1.96 million units.

National Commercial Bank of Jamaica Ltd. added 1 cent to J$19.01 and traded 1,960,431 and Jamaica Money Market Brokers Limited 8.75% rose 1 cent to J$3.01 and traded 349,400. Scotia Group Jamaica jumped 44 cents to J$21.07 and traded 264,133.

Radio Jamaica Ltd. slumped 24 cents to J$1.36 and traded 3,100,000 and Seprod Limited fell 8 cents to J$10.92 and traded 304,000. Berger Paints Ltd. slid 5 cents J$1.80 and traded 18,999.

Trinidad Market Overview

Trinidad Composite Index rose 0.48 to 1,193.07 and of the 15 stocks traded 5 advanced, 3 declined and 7 closed unchanged.

Clico Investment Fund led the most active list and rose 4 cents to TT$21.55 and traded 19,175 shares followed by Unilever Caribbean Limited jumped 40 cents to TT$57 and traded 2,500 and National Commercial Bank Jamaica Limited added 2 cents to TT$1.17 and traded 1,000.

Ansa McAL Limited lowered 1 cent to TT$66.50 and traded 3,000 shares and First Citizens Bank Limited fell 5 cents to TT$38.43 and traded 200 shares. Prestige Holdings Limited slipped 8 cents to TT$9.30 and traded 100 shares.

World Market Review

U.S. new home sales increased to a six-year high annualized rate. Retailers were in focus after Target Corp reported better than expected earnings.

New home sales in January increased 9.6% to annual rate of 468,000, ahead of most economist’s expectations.

The data released by the Commerce Department showed today December rate was revised higher to 427,000 from the previous estimate of 414,000.

TJX announced a $2 billion share buyback program. First Solar plunged on earnings decline. DreamWorks Animation sales plunged 23%.

In the U.S. earnings news, Chesapeake net swung to a loss. Dollar Tree net dropped 7%. Heico profit surged 38% on 23% rise in sales. Lowe’s net and sales jumped 6%.

Nordson profit plunged 17% but revenue rose. Target net tumbled 46%. TJX net slid and company lifts dividend.

European market indexes paused after a six-year high close at the end of session yesterday.

German consumer sentiment indicator for March increased to a six-year high, ahead of expectations of 8.2.

UK’s second estimated fourth quarter GDP rose 0.7% from third quarter and unrevised from first estimate.

Production output grew 0.5%, revised mining output fell 1.9% and revised manufacturing output increased 0.7% and revised construction output slid 0.2%.

In European trading, In London trading, FTSE 100 index slid 0.4% or 30.22 to 6,801.24 and in Frankfurt the DAX index fell 0.5% or 48.63 to 9,650.72.

In Paris, CAC 40 index dropped 0.6% or 24.79 to 4,389.76.

In the European earnings news, Ferrovial net jumped 5% to €727 million and revenue soared. Henderson profit soared 18% to £125 million.

ITV net surged 28% to £330 million after revenue jumped 8%. Jeronimo Martins net climbed 6% to €382 million. Weir profit soared but revenues eased.