Kingston Properties, RJR Lead Jamaica Trading

Mukesh Buch
22 Sep, 2010
New York City

In low trading Caribbean markets traded sideways. The benchmark index in Jamaica dropped more than 1.5% in the last nine days of trading. Kingston Properties Limited led the most active list followed by Radio Jamaica in Kingston trading.

[R]6:00 PM, September 21, 2010 Miami – In low trading Caribbean markets traded sideways. The benchmark index in Jamaica dropped more than 1.5% in the last nine days of trading. Kingston Properties Limited led the most active list followed by Radio Jamaica in Kingston trading.[/R]

The JSE Market Index decreased 177.39 or 0.21% to 84,074.15 and the JSE Select Index fell 2.34 or 0.11% to close at 2,138.74.

Trinidad Composite Index increased 0.33 to 817.60 and Bahamas Stock Exchange index rose 0.01 to 1500.52.

Of the 19 stocks traded on Jamaica Stock Exchange, 8 increased, 8 decreased and 3 were unchanged.

In today’s trading in Kingston, 3,505,481 shares changed hands worth J$16.25 million. Kingston Properties Limited led the most active list with a trading of 2,500,000 shares followed by Radio Jamaica Ltd. with 501,860.

Kingston Properties Limited increased 10 cent to J$3.90 and traded 2,500,000 and Radio Jamaica Ltd. added 12 cent to J$2.54 and traded 501,860. Cable and Wireless Jamaica Ltd. gained 1 cent to J$0.34 and traded 161,713.

Supreme Ventures Limited declined 14 cent to J$2.26 and traded 70,700 and Jamaica Money Market Brokers Ltd. declined 1 cent to J$3.99 and traded 49,624. Desnoes and Geddes Ltd. fell 1 cent to J$4.02 and traded 29,848.

Trinidad Market Overview

Trinidad Composite Index increased 0.33 to 817.60 and of the 8 stocks traded 1 advanced, none declined and 7 closed unchanged.

National Commercial Bank Jamaica Limited led the most active list with 19,525 shares.

World Market Review

U.S. stocks generally traded higher and trimmed gains in the late afternoon after the Fed in a statement indicated it may be prepared to provide additional stimulus to the economy. Gold increased to record high and the yields on U.S. Treasuries dropped to record low.

U.S. stocks gained after housing starts surged more than expected 10.5% in August. McMoRan agreed to buy Plains Exploration''s shallow water Gulf of Mexico assets for $818 million. Clorox is negotiating to sell its auto-care brands to Avista Capital for $800 million.

AutoZone, Inc declined after the retail said fourth quarter sales increased 9.5%. Carnival Corp increased 2% after third quarter revenues increased 8% to $4.4 billion. FactSet Research Systems Inc. increased revenues and earnings increased 8%.

The European indexes rose after the French economic index accelerated in July. The EU extended Irish bank guarantee scheme. Fitch affirmed Germany''s sovereign ratings. Spanish export growth slowed in July.

The UK indexes climbed after Ireland successfully completed bond sales. The Confederation of British Industry urged prioritization of spending on investment for economic growth. The UK public sector net borrowing soared in August. Irish PPI slackened in August.