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 Struggles to Stay Above 80,000

Author: Mukesh Buch
Last Update: 2:24 AM ET January 18 2014

6:00 PM January 17, Miami Market indexes in Jamaica failed to stay above 80,000 mark but indexes in Trinidad and in Bahamas advanced. For the week, the JSE Market Index increased 0.2% and Trinidad Composite Index 0.6%.

The JSE Market Index dropped 304.69 or 0.4% to 79,922.91 and for the week, rose 0.2%. The JSE Select Index slumped 23.60 or 1.1% to close at 2,221.14.

Trinidad Composite Index edged up 0.65 to 1,196.21 and for the week gained 0.6%. Bahamas Stock Exchange Index added 2.12 or 0.1% to 1,514.88.

Of the 13 stocks traded on Jamaica Stock Exchange, 3 increased, 3 decreased and 7 were unchanged.

Jamaican dollar hovered near its low and average buy rate against the U.S. dollar was 106.24 and average sell rate was 106.87 according to the website of Bank of Jamaica.

In Kingston trading today, 1.23 million units changed hands worth J$1.72 million and LIME led the most active list with 1.03 million units followed by Jamaica Money Market Brokers Limited 8.75% with 67,600 units.

Jamaica Producers Group Ltd. added 1 cent to J$18.76 and traded 27,972 and Caribbean Cement Company Ltd. added 2 cents to J$3.41 and traded 4,000. Scotia Investments Jamaica Ltd. climbed J$1.50 to J$26.50 and traded 3,660.

Scotia Group Jamaica decreased 26 cents to J$20.52 and traded 10,871 and National Commercial Bank of Jamaica Ltd. dropped 41 cents J$17.18 and traded 7,270. Carreras Limited declined 93 cents J$36.50 and traded 100.

Trinidad Market Overview

Trinidad Composite Index grew 0.65 to 1,196.21 and of the 13 stocks traded 3 advanced, 2 declined and 8 closed unchanged.

ScotiaBank Trinidad & Tobago Limited led the most active list and added 2 cents to TT$73.12 and traded 92,667 shares followed by First Citizens Bank Limited gained 11 cents to TT$42.97 and traded 48,548 and Neal & Massy Holdings Limited increased 48 cents to TT$63.01 and traded 4,862.

Prestige Holdings Limited slipped 5 cents to TT$9.40 and traded 3,150 shares and Guardian Holdings Limited slid 1 cent to TT$13.75 and traded 1,784.

World Market Review

U.S. stocks traded sideways and investors digested several earnings reports and the latest report on consumer confidence showed an unexpected decline.

On the earnings front, General Electric earnings rose but fell short of expectations in its manufacturing division and American Express net doubled. Morgan Stanley and UPS results were lower than expected.

S&P 500 index declined 2.10 to 1,843.79 and the Nasdaq Composite Index eased 7.02 to 4,211.67.

Crude oil gained 47 cents to $94.43 a barrel and gold added $13.90 to $1,254.10 per ounce.

Consumer confidence index declined to 80.4 from 82.5 in December, Thomson Reuters/University of Michigan preliminary index showed today. The index declined unexpectedly.

Carlyle agreed to acquire Ortho-Clinical business of Johnson &Johnson for $4.15 billion.

Morgan Stanley net plunged 85% but revenue jumped 11%. Intel net advanced 6%. Schlumberger net surged 22%.

In European trading, FTSE 100 index rose 0.2% or 13.3 to 6,829 and in Frankfurt the DAX index gained 0.2% or 24.6 to 9,742.

In Paris, CAC 40 index increased 0.2% or 8.4 to 4,328.

In Europe, Accor said quarterly sales fell 3% to 1.4 billion and the French maker of contact lenses Essilor forecasted revenue to grow to 5.1 billion.

Pandora fourth-quarter revenue surged 30% to 2.8 billion kronor. Shell expects net in the quarter to grow 2% to $6.7 billion.