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

Jamaica Halts Slide in Indexes, Bahamas Surges 2.6%

Author: Mukesh Buch
Last Update: 10:11 AM ET January 09 2014

6:00 PM January 8, Miami – Market indexes in Jamaica halted a weeklong slide and gained 0.6%. Indexes in Bahamas jumped 2.6% and in Trinidad advanced a fraction. World markets turned optimistic on the prospect of rising global growth expectations.

The JSE Market Index jumped 443.39 or 0.6% to 80,094.42. The JSE Select Index gained 16.24 to close at 2,205.87.

Trinidad Composite Index rose 0.05 to 1,187.32 and Bahamas Stock Exchange Index soared 38.37 or 2.6% to 1,506.27.

Of the 19 stocks traded on Jamaica Stock Exchange, 12 increased, 4 decreased and 3 were unchanged.

Jamaican dollar hovered near its low and average buy rate against the U.S. dollar was 105.77 and average sell rate was 106.48 according to the website of Bank of Jamaica.

In Kingston trading today, 8.62 million units changed hands worth J$38.1 million and LIME was the most actively traded with 5.89 million units followed by Jamaica Money Market Brokers Limited 8.75% with 1.64 million units.

LIME added 2 cents to 19 cents and traded 5,893,367 and GraceKennedy Ltd. jumped 39 cents to J$54 and traded 110,598. Sagicor Investments Jamaica Limited climbed 32 cents to J$16 and traded 100,000.

Carreras Limited declined J$1.62 to J$35.13 and traded 629,254 and Scotia Group Jamaica fell 3 cents J$20.51 and traded 26,389. Scotia Investments Jamaica Ltd. slid 1 cent to J$25 and traded 11,750.

Trinidad Market Overview

Trinidad Composite Index rose 0.05 to 1,187.32 and of the 11 stocks traded 2 advanced, 2 declined and 7 closed unchanged.

Republic Bank Limited led the most active list and rose 6 cents to TT$116.06 and traded 7,513 shares followed by Neal & Massy Holdings Limited added 2 cents to TT$60.02 and traded 2,678.

The West Indian Tobacco Company Limited slid 1 cent to TT$120 and traded 10,965 shares and Angostura Holdings Limited fell 3 cents to TT$12.44 and traded 600.

World Market Review

Stocks on Wall Street eased ahead of jobs report and earnings releases later in the week. Forest Labs agreed to acquire Aptalis Pharma for $2.9 billion in cash.

S&P 500 index declined 1.08 to 1,836.86 and the Nasdaq Composite Index rose 9.62 to 4,162.80.

A private report showed companies added 238,000 jobs in December according to ADP Research Institute.

On the U.S. earnings front, AZZ net rose 20% as revenue climbed 32%. Constellation Brands net climbed 93%. Monsanto profit climbed 8.5% and sales rose 7%. RPM Intl net soared 53%.

FTSE 100 index decreased 0.4% or 26.33 to 6,729 and in Frankfurt the DAX index slid 0.1% or 11.68 to 9,495.

In Paris, CAC 40 index fell 0.2% or 8.76 to 4,254.

The unemployment in the euro zone remained at stable but elevated level of 12.1% in November, Eurostat, the European Union’s statistics agency reported today.

In a separate report the agency said retail sales in the month increased 1.4% from October when sales had declined 0.4%.

Yesterday, the agency reported consumer prices in the euro zone increased 0.8% in December.

In the European earnings news, Air France Klm said passenger traffic in December rose 3%. Sainsbury third-quarter sales grew 2.7%. Mothercare group sales declined 6%.

Goldman Sachs and KKR sold 10.8% Kion stake. Persimmon revenue in the year soared 21%.