Latin America: closer to New Year”s rally had begun to fade
By admin at 21 January, 2010, 4:12 am
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Friday, 18 December, the stock markets of Latin America have demonstrated negative dynamics of the rare exceptions. In addition to the factor on Friday and shared concerns over the prolonged rally in the region, the impact on the mood of the bidders have news about the details of the transaction CSN-Cimpor-Cimentos. A day earlier, well-known economist Nouriel Roubini said that in the case of Brazil there is excessive euphoria.
As released during the session data, the unemployment rate in Brazil in November fell to 7.4% compared to 7,5% in October.
At the end of Friday trading a key index of Brazil Bovespa has fallen to 0,41% and closed the first money-losing week since October. Mexican Bolsa has lost 0,36%, while Chile"s Ipsa rose by 0,48%.
The third-largest in the Brazilian steel company Cia. Siderurgica Nacional fallen by 5,6% against the backdrop of news that she offered 3.86 billion euros ($ 5.6 billion) or 5.75 euros per share for the acquisition of the largest Portuguese cement maker Cimpor-Cimentos de Portugal, ie . more than 5% above the previous closing price. After this news was followed by negative comments from some analysts.
Public utility company Centrais Eletricas de Santa Catarina retreated to 4.1% - Banco Santander analysts speculated that the elections next year in Brazil will have a negative impact on the implementation of the company"s plans to reduce costs.
In Chile, the main stock index closed down just a step away from historic highs. Growth led by the municipal sector and retailers.
regional electricity group Enersis moved on 1,3%. One of the largest retailers in the region Cencosud stronger on 0,2%, while its competitor La Polar boosted 1,6% of market capitalization.
Chilean industrial conglomerate Copec left in plus on 0,65%. The Chilean currency weakened to 0.69% against the dollar on the background of the central bank"s warning that the rally to limit the peso currency intervention may be necessary.
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| Index | Country | Closing | Change (items) | Change (%) | value at beginning of year (the last closing in 2008) | Change YTD |
|---|---|---|---|---|---|---|
| MerVal | Argentina | 2,215.45 | -10.03 | -0.45% | 1079.66 | 105.20% |
| Bovespa | Brazil | 66,794.21 | -273.75 | -0.41% | 37550.31 | 77.88% |
| IBC | Venezuela | 54,483.32 | -406.91 | -0.74% | 34927.66 | 55.99% |
| IGBC | Colombia | 11,594.05 | -109.42 | -0.93% | 7560.68 | 53.35% |
| Bolsa | Mexico | 31,834.07 | -114.34 | -0.36% | 22380.32 | 42.24% |
| IGBVL | Peru | 13,992.37 | -48.12 | -0.34% | 7048.67 | 98.51% |
| IGPA | Chile | 16,283.78 | 66.14 | 0.41% | 11324.07 | 43.80% |
| IPSA | Chile | 3,499.07 | 16.56 | 0.48% | 2376.42 | 47.24% |
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