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

New Record Low in Jamaican Dollar

Author: Mukesh Buch
Last Update: 9:23 AM ET February 12 2014

6:00 PM February 11, Miami – Jamaican dollar extended year-long decline and fell to a new record low. Indexes in Jamaica and Trinidad eased but in The Bahamas gained a fraction. LIME and Caribbean Cement led the most actively traded list in Kingston.

The JSE Market Index rose 8.97 to 79,193.51 and The JSE Select Index added 4.59 to close at 2,255.24.

Trinidad Composite Index slid 0.52 to 1,194.46 and Bahamas Stock Exchange Index added 0.08 to 1,521.93.

Of the 22 stocks traded on Jamaica Stock Exchange, 7 increased, 8 decreased and 7 were unchanged.

Jamaican dollar hovered near its low and average buy rate against the U.S. dollar was 107.23 and average sell rate was 107.79 according to the website of Bank of Jamaica.

In Kingston trading today, 27.95 million units changed hands worth J$39.9 million and LIME the most active list with 25.02 million units followed by Scotia Group Jamaica with 1.08 million units.

LIME rose 3 cents to 33 cents and traded 25,016,488 and Caribbean Cement Company Ltd. jumped 41 cents to J$4.53 and traded 536,064. Carreras Limited climbed 66 cents to J$35 and traded 66,036.

Scotia Group Jamaica slipped 16 cents to J$21 and traded 1,084,114 and Jamaica Money Market Brokers Ltd. fell 6 cents J$7.40 and traded 122,797. Supreme Ventures Limited lowered 1 cent J$2.39 and traded 48,700.

Trinidad Market Overview

Trinidad Composite Index slid 0.52 to 1,194.46 and of the 12 stocks traded 1 advanced, 4 declined and 7 closed unchanged.

National Flour Mills led the most active list and added 5 cents to TT$1.05 and traded 26,000 shares.

Sagicor Financial Corporation fell 1 cent to TT$7.98 and traded 70,000 shares and Republic Bank Limited dropped 25 cents to TT$117 and traded 8,860. GraceKennedy Limited slid 2 cents to TT$3.68 and traded 5,000.

World Market Review

Indexes on Wall Street advanced and Fed Chairman Yellen’s reassured lawmakers on the the Fed policy continuation.

Speaker John Boehner plans to consider a debt ceiling bill with no strings attached tomorrow. Earnings also contributed to the positive trading sentiment.

Yellen also said, in remarks to House Financial Services Committee, economic growth has picked up but “the recovery in the labor market is far from complete.”

S&P 500 index increased 0.8% or 14.44 to 1,814.32 and the Nasdaq Composite Index added 0.7% or 30.90 to 4,179.10.

On the U.S. earnings front, CVS Caremark net surged 13%. Dean Foods net swung to a loss. Entergy net plummeted 50%. HCP profit jumped 13% but revenue fell 5%.

IntercontinentalExchange net swung to a loss. Ingersoll-Rand net tumbled 80%. Markel profit soared 168%.

In European trading, FTSE 100 index gained 1.2% or 81.1 to 6,673 and in Frankfurt the DAX index jumped 2% or 188.9 to 9,479.05.

In Paris, CAC 40 index increased 0.3% or 11.52 to 4,248.65.

In the European earnings news, Barclays profit surged £1.30 billion and revenue declined 11%. Glencore said copper and coal output climbed 32%.

L’Oreal agreed to buy 8% stake from Nestle for €6 billion. Thomas Cook reported flat revenues and gross profit.