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

Jamaican Index Drop 0.3%

Author: Mukesh Buch
Last Update: 10:25 AM ET January 10 2014

6:00 PM January 9, Miami Jamaica market indexes dipped below 80,000 market and the dollar held firm against international currencies. Gleaner Company was the most actively traded stock in Kingston.

The JSE Market Index slipped 210.97 or 0.3% to 79,883.45. The JSE Select Index slid 17.46 to close at 2,188.41.

Trinidad Composite Index fell 0.36 to 1,186.96 and Bahamas Stock Exchange Index declined 7.38 or 0.5% to 1,498.89.

Of the 21 stocks traded on Jamaica Stock Exchange, 4 increased, 10 decreased and 7 were unchanged.

Jamaican dollar hovered near its low and average buy rate against the U.S. dollar was 105.96 and average sell rate was 106.62 according to the website of Bank of Jamaica.

In Kingston trading today, 4.04 million units changed hands worth J$17.2 million and Gleaner Company was the most actively traded with 1.12 million units followed by Desnoes and Geddes Ltd. with 1.64 million units.

Caribbean Cement Company Ltd. gained 9 cents to J$3.85 and traded 448,359 and Carreras Limited rose J$1.51 to J$36.64 and traded 10,132. Sagicor Group Jamaica Limited added 5 cents to J$8.10 and traded 7,350.

Desnoes and Geddes Ltd. slipped 7 cents to J$5.01 and traded 852,562 and Jamaica Broilers Ltd. dropped 21 cents J$4.64 and traded 743,757. LIME fell 1 cent to 18 cents and traded 292,218.

Trinidad Market Overview

Trinidad Composite Index fell 0.36 to 1,186.96 and of the 11 stocks traded 2 advanced, 4 declined and 5 closed unchanged.

First Citizens Bank Limited led the most active list and gained 15 cents to TT$41.01 and traded 3,975 shares followed by Republic Bank Limited increased 2 cents to TT$116.08 and traded 1,877.

Jamaica Money Market Brokers Limited slid 1 cent to 50 cents and traded 200,000 shares and Clico Investment Fund dropped 26 cents to TT$22.24 and traded 86,398. National Commercial Bank Jamaica Limited fell 1 cent to TT$1.10 and traded 27,772.

World Market Review

U.S. stocks eased and weak retailers and energy companies led the decline.

Weekly jobless claims in the last week declined 15,000 to 330,000, the Labor Department said in a report today.

In the U.S. earnings news, Acuity Brands net surged 70% and sales climbed 20%. Bed Bath & Beyond net climbed 9%. Family Dollar fell 3% but net sales rose 3%.

Global Payments net jumped 5% on revenue increase of 8%. Nordion net swung to profit. Supervalu net doubled.

European Central Bank noted progress in the economic growth but left its reference rate at historic low of 0.5%. Yesterday, Bank of England left its lending rate unchanged.

Yesterday, Bank of England kept its reference rate at a record-low 0.5% and left its bond purchase program unchanged at 375 billion pounds.

In London trading, FTSE 100 index edged up 0.03% or 2.16 to 6,724 and in Frankfurt the DAX index added 0.05% or 4.97 to 9,503.

In Paris, CAC 40 index fell 0.02% or 0.70 to 4,260.

On the European earnings front, Arkema lowered its full-year earnings guidance. TGS-NOPEC Geophysical lifted revenue forecast for the quarter and fiscal 2013.

Wartsila confirmed the preliminary proposal from Rolls-Royce. Morrison said total sales dropped by 2%.