Caribbean Markets Slide As World Markts Suffer Weekly Plunge Of 3%

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.

Market indexes across Caribbean declined after world markets extended losses on Friday and on Wall Street indexes plunged nearly 3%.

Gloom in world market deepened after crude oil prices declined to a new 12-year low and investors worried that the slowdown in China may spread to other emerging markets and affect exports from Europe and the U.S.

Crude oil declined below $30 a barrel in New York trading and indexes on Wall Street extended losses in the year-so-far to between 8% and 10%.

In Jamaica trading, The JSE Market Index fell 1,351.93 or 0.9% to 156,273.84 and The JSE Select Index slipped 58.73 or 1.1% to 5,376.65.

For the week, JSE Market Index slid 0.3%.

Trinidad Composite Index edged up 0.68 to 1,164.82 and for the week index rose 0.3%.

Bahamas Stock Exchange Index slid 0.06 to 1,827.47.

Of the 25 stocks traded on Jamaica Stock Exchange, 13 increased, 9 decreased and 3 were unchanged.

Jamaican dollar traded near record low and average buy rate against the U.S. dollar was 120.31 and sell rate was 120.78, according to the Bank of Jamaica website.

In Kingston trading today, 2.72 million units changed hands worth J$89.06 million and Sagicor Group Jamaica Limited led the most active list with 365,894 units followed Scotia Group Jamaica Limited with 346,798 units.

Sagicor Group Jamaica Limited jumped 26 cents to J$23.28 and traded 365,894 shares and Jamaica Stock Exchange soared J$1 to J$20 and traded 200,000.

Barita Investments Limited advanced 13 cents to J$4.03 and traded 134,925.

Scotia Group Jamaica Limited plunged J$1.57 to J$30.30 and traded 346,798 shares and Mayberry Investments Limited slipped 17 cents to J$4.70 and traded 327,979.

Cable & Wireless Jamaica Limited fell 1 cent to J$1.42 and traded 257,600.

Trinidad Market Overview

Trinidad Composite Index edged up 0.68 to 1,164.82 and of the 9 stocks traded 3 advanced, none declined and 6 closed unchanged.

National Commercial Bank Jamaica Limited led the most active list and rose 2 cents to TT$2.30 and traded 8,558 shares and Point Lisas Industrial Port Development Corporation Limited added 1 cent to TT$3.93 and traded 3,697.

Guardian Holdings Limited gained 7 cents to TT$13.51 and traded 480.

Leave a comment

Your email address will not be published. Required fields are marked *


Become a CERTIFIED Project Manager

Online Exam: $280 $130 Get a FREE Mock Exam