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 Indexes Plunge 1.5%

Author: Mukesh Buch
Last Update: 12:46 PM ET March 19 2014

6:00 PM March 18, Miami Market indexes in Jamaica plunged 1.5% and indexes in Trinidad and in The Bahamas trended lower in the session. Jamaican dollar closed down to record low and extended losses in the fourteenth month.

The JSE Market Index declined 1,182.62 or 1.5% to 75,721.40 and The JSE Select Index dropped 26.66 to 2,270.19.

Trinidad Composite Index slid 0.01 to 1,182.16 and Bahamas Stock Exchange Index rose 0.12 to 1,516.49.

Of the 15 stocks traded on Jamaica Stock Exchange, 1 increased, 9 decreased and 5 were unchanged.

Jamaican dollar hovered near its low and average buy rate against the U.S. dollar was 108.84 and average sell rate was 109.37 according to the website of Bank of Jamaica.

In Kingston trading today, 57.09 million units changed hands worth J$51.3 million and LIME led the most active list with 52.97 million units followed by Jamaica Money Market Brokers Ltd. with 2.75 million units.

Carreras Limited gained 20 cents to J$35.45 and traded 1,589 and Sagicor Group Jamaica Limited gained 7 cents to J$9.17 and traded 2,585,000. Pan-Jamaican Investment Trust Ltd. climbed J$2.42 to J$51.99 and traded 1,000,000.

LIME slid 3 cents to 38 cents and traded 52,966,866 and Sagicor Group Jamaica Limited fell 7 cents to J$9.10 and traded 490,296. Scotia Group Jamaica declined 35 cents J$21.11 and traded 64,853.

Trinidad Market Overview

Trinidad Composite Index slid 0.01 to 1,182.16 and of the 13 stocks traded 3 advanced, 2 declined and 8 closed unchanged.

Clico Investment Fund led the most active list and rose 2 cents to TT$21.67 and traded 15,440 shares followed by Unilever Caribbean Limited added 2 cents to TT$58.07 and traded 3,026 and Prestige Holdings Limited gained 1 cents to TT$9.30 and traded 10.

Praetorian Property Mutual Fund slid 1 cent to TT$3.40 and traded 4,000 shares and Ansa McAL Limited fell 1 cent and traded 260.

World Market Review

In the U.S. earnings news, DSW Inc (DSW), the footwear and accessory retailer reported sales in the fourth-quarter ending on February 2 dropped 3.7% to $572 million. Comparable sales in the quarter were flat.

Net income in the quarter jumped 4.2% to $28.1 million.

The company expects revenue growth in the year of 6% to 7% and earnings per share between $1.80 and $1.95.

FactSet Research System Inc (FDS), the professional information services provider said revenues in the second-quarter ending in February jumped 7% to $226.9 million.

Net income in the quarter climbed 8.8% to $52.4 million.

The company expects revenues in the third-quarter between $229 million and $233 million and diluted earnings per share in the range of $1.24 and $1.26.

GameStop Corp (GME) declined after Wal-Mart Stores Inc plans to allow its U.S. customers to hand in used videogames in exchange for gift cards, which can be used in its retail stores or online.

Hertz Global Holdings, Inc (HTZ), the auto-rental group plans to spin-off its construction equipment rental division into a separate publicly traded company.

Separately, the company reported revenue in the fourth-quarter ending in December climbed 10.2% to $2.56 billion.

Net losses in the quarter narrowed to $0.6 million or break even a diluted share.

In European trading, FTSE 100 index increased 0.8% or 51.99 to 6,620.34 and in Frankfurt the DAX index jumped 1.2% or 111.45 to 9,292.34.

In Paris, CAC 40 index climbed 1.3% or 57.38 to 4,329.34

In the European news, Antofagasta net tumbled 36% to $659 million after revenue declined 11%. Asos plunged despite revenue in February surged 26%.

Cairn Energy said net in the year swung to a loss $556 million. J Sainsbury said sales dropped. Kuoni Reisen net swung to a profit 68 million francs.