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 Halt the Slide, Dollar at New Record Low

Author: Mukesh Buch
Last Update: 12:18 PM ET March 20 2014

6:00 PM March 19, Miami Market indexes in Jamaica rebounded after two days of weakness and lacklustre trading this week. The Jamaican dollar continued its downward drift and fell to a record low against the U.S. dollar. LIME led the most actively traded stocks in Kingston and in the region.

The JSE Market Index jumped 586.23 or 0.8% to 76,307.63 and The JSE Select Index gained 18.39 to 2,288.58.

Trinidad Composite Index fell 1.92 to 1,180.24 and Bahamas Stock Exchange Index closed unchanged at 1,516.49.

Of the 16 stocks traded on Jamaica Stock Exchange, 6 increased, 3 decreased and 7 were unchanged.

Jamaican dollar hovered near its low and average buy rate against the U.S. dollar was 109.13 and average sell rate was 109.67 according to the website of Bank of Jamaica.

In Kingston trading today, 5.55 million units changed hands worth J$9.76 million and LIME led the most active list with 4.11 million units followed by Jamaica Money Market Brokers Limited 7.50% with 937,582 million units.

Supreme Ventures Limited jumped 17 cents to J$2.30 and traded 220,000 and GraceKennedy Ltd. climbed 26 cents to J$59.99 and traded 68,607. Jamaica Broilers Ltd. increased 20 cents to J$5 and traded 64,000.

LIME fell 5 cents to 33 cents and traded 4,112,529 and Carreras Limited slid 33 cents to J$35.12 and traded 20,400. Caribbean Cement Company Ltd. slipped 10 cents J$4.15 and traded 14,550.

Trinidad Market Overview

Trinidad Composite Index fell 1.92 to 1,180.24 and of the 11 stocks traded 2 advanced, 3 declined and 6 closed unchanged.

Clico Investment Fund led the most active list and rose 5 cents to TT$21.72 and traded 10,444 shares followed by National Flour Mills Limited added 2 cents to TT$1.17 and traded 10,000.

Guardian Holdings Limited declined 32 cents to TT$14.15 and traded 4,918 shares and ScotiaBank Trinidad & Tobago Limited slid 3 cents to TT$72.47 and traded 2,000. First Citizens Bank Limited dropped 42 cents to TT$36.98 and traded 200.

World Market Review

In the U.S. earnings news, Adobe net declined 28% on flat revenues.

FedEx net climbed 5%. General Mills net and sales slipped. KB Home net swung to a profit after revenue climbed. Oracle net surged 28% after revenues climbed. Vera Bradley profit plunged 23% on sales decline.

Adobe Systems Inc (ADBE), the diversified software company reported total revenue in the first-quarter ending in February was flat at $1 billion.

Net income in the quarter declined 27.8% to $47 million or 9 cents from a year ago.

FedEx Corporation (FDX), the air freight and logistics group said revenue in the third-quarter ending in February jumped 3% to $11.3 billion.

Net income in the quarter climbed 5% to $378 million or $1.23 a diluted share compared to $361 million or $1.13.

FedEx forecasted diluted earnings per share in the fourth quarter between $2.25 and $2.50 and for the fiscal 2014 in the range of $6.55 to $6.80 per share.

Oracle Corporation (ORCL), the enterprise software developer reported total revenues in the third-quarter ending in February climbed 4% to $9.3 billion.

Net income in the quarter surged 28% to $2.56 billion or 56 cents a diluted share compared to $2.50 billion or 52 cents.

Oracle said revenue in the new software licenses and cloud software subscriptions segment increased 4% to $2.4 billion and revenue in the software license updates and product support were jumped 5% to $4.6 billion. Hardware systems products revenues soared 8% to $725 million.

In Europe trading, FTSE 100 index slid 0.2% or 12.35 to 6,592.93 and in Frankfurt the DAX index gained 0.5% or 50.59 to 9,293.14.

In Paris, CAC 40 index rose 0.2% or 10.18 to 4,323.44.

In the Europe, Brenntag profit rose 1% to 339.2 million and proposes for a 3-for-1 stock split expecting of earnings growth.

HeidelbergCement profit surged 79% to 945 million.

Inditex net grew 1% to 2.4 billion.

Ophir Energy failed in offshore Gabon. Smiths pre-tax profit fell 4% to 215 million.