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

Weekly Rise of 1% in Jamaican Indexes

Author: Mukesh Buch
Last Update: 2:30 AM ET January 11 2014

6:00 PM January 10, Miami Despite the weak close on Friday, Jamaica market indexes closed up 1% in the week. Trading in Kingston picked up to the high for the last one month. GraceKennedy led the most active list in Caribbean.

The JSE Market Index slipped 117.44 or to 79,766.01 and for the week, fell 0.9%. The JSE Select Index increased 10.32 or 0.5% to close at 2,198.73.

Trinidad Composite Index jumped 2.04 or 0.2% to 1,189 and for the week rose 0.2%. Bahamas Stock Exchange Index declined 7.38 or 0.5% to 1,498.89.

Of the 16 stocks traded on Jamaica Stock Exchange, 3 increased, 9 decreased and 4 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 106.74 according to the website of Bank of Jamaica.

In Kingston trading today, 694,748 units changed hands worth J$15.2 million and Jamaica Producers Group Ltd. the most active list with 235,721 units followed by Pan-Jamaican Investment Trust Ltd. with 129,752 units.

Sagicor Group Jamaica Limited added 2 cents to J$8.12 and traded 30,167 and Radio Jamaica Ltd. gained 2 cents to J$1.92 and traded 1,450. National Commercial Bank of Jamaica Ltd. jumped 41 cents to J$17 and traded 1,000.

Pan-Jamaican Investment Trust Ltd. fell J$5.95 to J$48.05 and traded 129,752 and Scotia Group Jamaica slid 1 cent J$20.50 and traded 100,000. Caribbean Cement Company Ltd. lowered 4 cents to J$3.81 and traded 54,951.

Trinidad Market Overview

Trinidad Composite Index jumped 2.04 or 0.2% to 1,189 and of the 13 stocks traded 8 advanced, 1 declined and 4 closed unchanged.

Clico Investment Fund led the most active list and rose 1 cent to TT$22.25 and traded 27,753 shares followed by First Citizens Bank Limited climbed 47 cents to TT$41.48 and traded 26,287 and National Flour Mills Limited up 1 cent to 96 cents and traded 5,300.

Prestige Holdings Limited fell 5 cents to TT$9.40 and traded 2,071 shares.

World Market Review

U.S. stocks traded sideways and employers at all levels added fewer than expected 74,000 jobs in December.

Average monthly payroll increase of 182,000 matched previous two years. Jobless rate declined to 6.7%. Sears Holdings plunges after dismal holiday performance.

Private sector and government agencies at all levels added 74,000 jobs in December, the Labor Department said today.

Unemployment rate declined to 6.7% in the month from 7% in November as labor participation dropped to 36-year low of 62.8%.

Employers in previous four months added 214,000 jobs but tough weather conditions played a role fewer hiring in the month.

In the U.S. earnings news, Alcoa net swung to a loss of $2.34 billion and pleaded guilty to a criminal charge and agreed to pay $384 million in penalties.

The discount retailer e Five Below declined on outlook. Sears Holdings tumbled after the troubled retailer forecasted adjusted loss in the last quarter and for the fiscal year. Synnex net dropped 5%.

FTSE 100 index jumped 0.8% or 53.67 to 6,745 and in Frankfurt the DAX index gained 0.5% or 45.88 to 9,467.

In Paris, CAC 40 index climbed 0.5% or 22.07 to 4,247.

In Europe, Cineworld Group plans to acquire Cinema City International for 900 million. Lufthansa said December traffic increased and restructuring costs to fall this year.

Hilton Food said performance was in-line with expectations. SAP said revenue rose 2% and operating profit jumped 13%.