No success stories available!

Sadia is one of the world’s leading producers of chilled and frozen foods. Established in Brazil in 194...
Cyrela Brazil Realty is the largest residential real estate developer in Brazil. Considered one of the m...
Today, Banco do Brasil is the largest financial institution in the Country with 24.4 million clients and ...
CPFL Energia is a holding company in Brazilian electricity sector, operating through its subsidiaries in ...
Copersucar S.A. is the largest Brazilian sugar, ethanol and bioenergy company and a significant player in...

Latam stocks rise tracking global equities; FX weakens

Latin American stocks rose on Tuesday in line with world stocks as positive data from China and Germany boosted investor sentiment, while currencies in the region slid against a firm dollar. MSCI’s index of Latin American stocks rose 0.8 percent after three-straight sessions of losses with shares in Brazil leading gains. Volumes remained subdued on account of a shortened trading week for the Easter holidays. World stocks hit a more than six-month high on Friday as signs of stabilization in China’s economy and positive data from Germany buoyed sentiment. Sao Paulo-traded stocks rose 1.5 percent with oil-firm Petrobras providing the biggest boost to the index. Brazil’s energy minister said Tuesday there would be no change in the pricing policy of the state-owned oil firm after the company called off a diesel price hike last week following a call from the president to its chief executive. Shares of Vale SA registered their best day in over two-months after a Brazilian state court authorized the iron ore miner to resume operations at the Brucutu mine, its largest in Minas Gerais state. Petrochemical company Braskem SA slid after an appeals court in Alagoas state ruled the company’s shareholders cannot approve its planned payment of 2.7 billion reais ($697 million) in dividends. Investors also watched progress related to Brazil’s pension reform with leaders of the country’s largest parties delaying an expected vote to start discussion in parliament on the subject to next week. “This short delay is a way for the centrist parties to make their voices heard, and may be a preview of the opposition to come when the bill is debated in the special committee,” analysts at Citi Research said in a note. Mexican stocks rose 0.8 percent with Wal-Mart de Mexico (Walmex), the country’s largest retail chain, among the biggest gainers, while the peso ended flat. Argentina’s peso snapped a six-day winning streak after data showed consumer prices rose 4.7 percent in March, accelerating from the previous month as stubborn inflation pinched spending power. The rise marked the third consecutive month in which inflation has accelerated, taking the year-to-date rise to 11.8 percent. That is a worrying sign for the peso, which lost almost half its value against the dollar last year. Argentina’s central bank said Tuesday it will freeze a non-intervention trading band for its currency until the end of the year. Chile’s peso fell marginally tracking a dip in the price of copper, the country’s top export, while stocks on the IPSA index rose for the first time in five sessions.

Key Latin American stock indexes and currencies at 2100 GMT

Stock indexes daily %Latest changeMSCI Emerging Markets 1093.55 0.67MSCI LatAm 2767.85 0.83Brazil Bovespa 94333.31 1.34Mexico IPC 45009.36 0.86Chile IPSA 5261.00 0.55Argentina MerVal 32290.18 1.72Colombia IGBC 12956.04 0.29Currencies daily %

change Latest

Brazil real 3.9031 -0.08Mexico peso 18.8715 0.00Chile peso 662.6 -0.05Colombia peso 3160.98 0.00Peru sol 3.296 -0.06Argentina peso 42.3000 -1.56

(interbank)