Monthly Archives: September 2019

US stock indexes fell sharply today, reacting to the news of the inversion of yields on US short- and long-term government securities, which heightened fears of a severe slowdown in economic growth and even recession, news agencies reported.

4:00 PM Frankfurt – Auto Trader profit surged on 9% jump in revenues. Boohoo revenues doubled and raised £50 million through share sale and the retailer also lifted fiscal revenue forecast. Berendsen agreed for £2.2 billion takeover bid from French rival Elis. Flybe net swung to a loss.

12:40 PM New York City, New York – Alcoa swung to profitability supported by tariffs. The Blackstone revenues soared 11%. Genuine Parts lifted fiscal outlook. Philip Morris beat earnings estimates. Travelers Co reported strong results.

2:00 PM New York – Alcoa said sales declined 10% and lifted forecasted. Alliance One Intl net surged on flat revenues. Fastenal profit slumped 6%. GMS net soared more than four-fold and sales surged 30%. Rocky Mountain Chocolate net fell 4%. VOXX Intl net loss widened.

BHP Billiton profit tumbled but revenues surged. Dermapharm reaffirmed fiscal outlook. Persimmon profit soared on strong delivery and price. Polymetal profit soared on higher production and prices. John Wood net swung to a loss but revenues surged.

Henkel profit and sales fell on negative currency effects and persistent problems in supply chain. Fraport recorded 14.4 million passenger count in the first-quarter.

4:00 PM Frankfurt – Actelion received tender offer from Johnson & Johnson. Danone said it will sell its U.S. subsidiary Stonyfield to meet the regulatory requirements fo WhiteWave foods purchase. DX Group is in talks to acquire John Menzie. Phoenix Solar lifted revenue forecast.

12:50 PM New York – U.S. and World markets accelerated the decline on the last day of January. For the year, S&P 500 index is down 3.4%, major markets in Europe declined 3% and indexes in Japan closed down 8.5%, Hong Kong fell 5.5% and India dropped 3.1%.

4:00 PM Frankfurt – Essentra health and personal care packaging division woes continue. LafargeHolcim swings to loss after the cement maker writes down assets. LSE profit surges on record volume in its clearing business. Mondi profit jumped on 7% increase in revenues. Spire Healthcare net plunged 69%.

12:35 PM New York City, New York – Broadcom declined despite profit and revenues beat estimates. Cooper profit tumbled 42%. Lakeland Industries net soared on 6% jump in revenues. Verint Systems net loss narrowed on strong revenues.

12:45 PM New York – Abbott net surged 54%. Colgate-Palmolive net climbed 11% while sales dropped. ConocoPhillips net swung to a loss. Dow Chemical net plunged 24%. Harley-Davidson net fell 1% on flat revenues. Qualcomm profit jumped 5%. Visa net declined 10%.

4:30 PM Tokyo – Market indexes in Tokyo plunged as much as 3% following a sharp turn in the euro zone. Greece imposed capital controls and entered in an unpredictable zone with the prospect of troubled nation leaving the currency union rose.

4:00 PM Frankfurt – European sentiment rebounded and investor sought comfort in the latest international trade data from China. Barratt said home completion in six months to December increased 9.4%. U.K. retailer Dunelm blamed the mild winter for the 0.8% drop in sales. Sodexo kept its forecast for 3% revenue growth in 2016.

7:00 PM January 8, Miami, Florida – Jamaica extended weekly gains and closed up 4% as world markets struggled with falling commodities prices and a surprise currency devaluation in China.

7:00 PM January 12, Miami, Florida – Caribbean markets closed mixed in thin trading and Jamaican dollar drifted to a new record low. World markets struggled as global economic growth may slow down more than expected.

7:00 PM January 13, Miami, Florida – Jamaica market indexes gained more than 2% despite another day of decline in stocks in New York and in Europe. Crude oil price drifted near 12-year low and China reported better-than-expected international trade data.

7:00 PM January 14, Miami, Florida – Caribbean markets declined as world markets faced deepening gloom on the rising fears of deflation contagion originating from China. Crude oil dropped to 12-year low.

5:30 PM Sydney – Australian stocks closed down following world markets weakness and the continued slide in oil prices. Oil futures extended losses for the sixth day in a row and Russian ruble collapsed forcing central bank to take emergency steps.

1:30 PM New York – Boeing and CVS Health increase quarterly dividend and expand stock buyback program. FactSet Research net climbed 7%. Navistar net loss narrowed. Talisman Energy surged 48% after a $13 billion deal with Spain-based Repsol. VeriFone net swung to profit.

U.S. stocks stayed and oil prices in New York at least for today were stable after Russia faced foreign exchange crisis.

5:00 PM December 8 – Market indexes in Jamaica and Trinidad advanced but in The Bahamas closed nearly unchanged. Caribbean region braces for the implication of cheaper oil and likely demise of the supply under the PetroCaribe initiative.

Market indexes in Jamaica dropped 0.6% and Jamaican dollar edged lower after international oil prices took another hit in New York and London. Analysts lowered the estimate of oil price in the next six months to $50 a barrel.

5:00 PM December 10 – Jamaica market indexes rose and Jamaican dollar dropped to a new low. Jamaican finance minister confirmed talks with international institutions interested in purchasing PetroCaribe debt.

In thin trading, indexes in Jamaica dropped 1.3%. Jamaican dollar remained under pressure and Jamaica Broilers and JMMB led the most actively traded stocks in Kingston. Crude oil prices in international markets declined to a new five-year low.

5:00 PM December 12 – Caribbean markets traded sideways and for the week market indexes closed nearly unchanged. Jamaican dollar dropped to a new low as member nations in the PetroCaribe brace for the end of cheap oil supply.

5:00 PM December 15 – Caribbean markets traded higher and the continued oil price decline wreaked havoc in Asian and European markets. Russia was forced to increase interest rates higher by 6.5% at midnight, hoping to curb capital flight.

6:50 AM New York – Chevron completed the sale of its Caribbean fuel marketing businesses to France based Rubis. The deal agreed in November was consummated yesterday for the nine Caribbean and two South American locations and is expected to receive regulatory approval from three Central American countries.

7:00 AM April 16, 2019 Port of Spain – Trinidad attracts foreign investment of $70 million in energy exploration that is expected to arrest the decline in oil and gas production in the last decade. However, the twin island nation remains dependent on the energy sector for its exports and economic growth.

Australia Announces $5.6 Billion Flood Relief Package Stocks in Sydney traded flat with mining stocks firming during the day. P.M. Julia Gillard announces flood relief package of A$5.6 billion including a progressive tax levy. Crane Group enters into a two-day trading halt pending finalization of a revised takeover offer from New Zealand-based Fletche

World Markets Deepen Losses in January, Euro Zone Defltation Trap Worries U.S. and World markets accelerated the decline on the last day of January. For the year, S&P; 500 index is down 3.4%, major markets in Europe declined 3% and indexes in Japan closed down 8.5%. Hong Kong index fell 5.5% and index in India […]

4:00 PM Frankfurt – A.P. Moller-Maersk profit tumbled 43% on 9% decline in revenues. Security services provider G4S said revenues soared 6% to £4.8 billion. Deutsche Lufthansa profit surged 79% but the airline lowered revenues forecast. Hugo Boss net plunged 9%. Smurfit Kappa profit soared 22%.

Mayberry Investments, Scotia Group Jamaica Net Decline; H&L; Net Jumps Mayberry Investments revenue declined 21% to J$414 million and profit plunged 76% to J$103 million. Scotia Group Jamaica revenue slipped 6% to J$1.5 billion and net dropped 14% to J$421 million. Hardware & Lumber revenue jumped 6% to J$6.8 billion and profit in the year […]

8:030 AM Puerto Rico – January cement production and sale increased in Puerto Rico as builders struggle with financing. Production in the month increased 26.3% but declined 22.5% in the seven months to January in the latest fiscal year.

9:20 AM St Lucia – The government of St Lucia agreed to increase its shareholding in the regional banana exports company Wifresh and acquire 177 acres of prime agriculture land in Dennery Valley.

Venezuela exports nearly $100 billion of oil in international markets, but yields only $60 billion in foreign exchange after counting all the discounts for local consumption, giveaways in the PetroCaribe initiative, and repayment of loans to China.

5:00 PM January 15 – For a decade, Venezuela has been enjoying rising oil price but with the sharp and swift turn in energy market the nation is bracing for harder times ahead.

12:15 PM Port of Spain, Trinidad – Trinidad economy contracted in the first quarter by 1.2% and the government deficit doubled in the first eight months of current fiscal year ending in May. Inflation remained elevated despite four rate increases in a row.

7:00 PM January 15, Miami, Florida – Caribbean indexes declined following the deepening gloom in world markets. Crude oil prices dropped below $30 a barrel and fell 18% in the year-so-far. Market indexes in Europe and New York declined 3% or more in the week.