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 Indexes Surge in Heavy Trading

Author: Mukesh Buch
Last Update: 9:34 AM ET January 14 2014

6:00 PM January 13, Miami Market indexes in Jamaica shot up on heavy volume and Jamaican dollar drifted to a record low. GraceKennedy and NCB led the most actively traded shares list in Caribbean.

The JSE Market Index increased 184.49 or to 79,950.50. The JSE Select Index gained 31.61 or 1.4% to close at 2,230.34.

Trinidad Composite Index rose 0.58 to 1,189.58 and Bahamas Stock Exchange Index jumped 6.88 or 0.5% to 1,505.77.

Of the 20 stocks traded on Jamaica Stock Exchange, 10 increased, 3 decreased and 7 were unchanged.

Jamaican dollar hovered near its low and average buy rate against the U.S. dollar was 105.99 and average sell rate was 106.69 according to the website of Bank of Jamaica.

In Kingston trading today, 2.73 million units changed hands worth J$83.7 million and GraceKennedy Ltd. the most active list with 1.40 million units followed by LIME with 826,413 units.

GraceKennedy Ltd. jumped J$1.52 to J$55.35 and traded 1,400,100 and National Commercial Bank of Jamaica Ltd. rose 8 cents to J$17.08 and traded 49,870. Carreras Limited increased 48 cents to J$36.99 and traded 47,670.

LIME fell 1 cent to 17 cents and traded 826,413 and Caribbean Cement Company Ltd. dropped 41 cents J$3.40 and traded 95,049. First Caribbean International Bank slid J$1 cents to J$89 and traded 2,800.

Trinidad Market Overview

Trinidad Composite Index rose 0.58 to 1,189.58 and of the 12 stocks traded 3 advanced, 1 declined and 8 closed unchanged.

Prestige Holdings Limited led the most active list and rose 5 cents to TT$9.45 and traded 44,573 shares followed by Trinidad Cement Limited added 4 cents to TT$2.30 and traded 13,522 and First Citizens Bank Limited gained 18 cents to TT$41.66 and traded 10,135.

Angostura Holdings Limited lowered 1 cent to TT$12.43 and traded 1,978 shares.

World Market Review

Alnylam Pharmaceuticals, Inc. (ALNY) surged 65.4% to $107.97 after the biopharmaceutical maker agreed with France-based Sanofi SA for a 12% stake sale for about $700 million or 424.2 million to develop drugs for rare genetic diseases.

Beam Inc. (BEAM) surged 24.8% to $83.55 after the premium spirit products maker agreed to be acquired by Japan-based Suntory Holdings Limited for $83.50 a share in cash or $16 billion, a 25% premium to Friday''s closing price.

Lululemon Athletica Inc. (LULU) tumbled 16.1% to $50 after the athletic apparel retailer estimated fourth-quarter earnings between 71 cents and 73 cents per share, down from its December guidance of 78 cents to 80 cents per share.

The company lowered revenue expectation in the range of $513 million to $518 million on a low-to-mid single digit decline in same-store sales.

FTSE 100 index rose 0.04% or 2.76 to 6,743 and in Frankfurt the DAX index rose 0.05% or 4.87 to 9,478.

In Paris, CAC 40 index slid 0.01% or 0.29 to 4,250.

In Europe, Alcatel Lucent plans to sell-off its enterprise business. Amec agreed to buy Foster Wheeler AG for $3.2 billion. Continental expects sales to grow 5%.

Suedzucker net declined 6% to 143 million and sales dropped 7%.