MIAMI, FL, U.S.A. (8:05 AM ET) – Caribbean markets closed mixed and the index in Jamaica opened higher after three-day weekend. The indexes in The Bahamas and in Trinidad declined. Crude oil surged in New York trading.
The JSE Market Index increased 252.38 or 0.3% to 92,772.71 and the JSE Select Index rose 8.18 to close at 2,753.99.
Trinidad Composite Index decreased 1.18 or 0.1% to 993.18 and Bahamas Stock Exchange Index declined 4.52 or 0.3% to 1367.62.
Of the 19 stocks traded on Jamaica Stock Exchange, 12 increased, 4 decreased and 9 were unchanged.
U.S. indexes turned positive and erased losses of 0.8% on the rising optimism about bank earnings and housing market. The late rally in market indexes was driven by unconfirmed reports that France and Germany agreed to lift rescue fund size to €2 trillion.
Bank of America reported better than expected earnings and Goldman Sachs lost money in the quarter as estimated. IBM’s quarterly revenues were lower than expected.
However, European markets were mixed and struggled to find a direction after France faced a possible debt downgrade and bond yields widened to record highs in the region.
