Wednesday, January 13, the majority of Latin American stock market indexes finished trading in positive territory on the background of the increased cost of the shares of mining companies and steel producers.

As a result of trades on the Mexican Bolsa rose 0,13%, Brazil”s Bovespa added 0,44%, and the Venezuelan IBC has grown on 2,94%. Chilean blue-chip IPSA index gained strength at 0.53% and IGPA closed at 0.48% above the previous value. Leader of growth was the Argentine MerVal, an increase of 2,98%. Not supported by the overall positive dynamics only Peruvian index IGBVL, a decrease of 0,33%.

Analysts Bank of America Merrill Lynch on Wednesday raised the forecast for prices for iron ore in 2010. Against this backdrop, the mining companies were able to significantly increase the end of the auction market capitalization. For example, shares of industry leader Vale “recovered” at 1,4%. Paper MMX Mineracao Metalicos jumped 7.3%, which also helped increase Bank of America specialists of their rating to “worse than the market” to “buy”.

Shares producers were also not left behind and finished the session with the growth. The market capitalization of the Brazilian company Gerdau and Usiminas increased by 0,48% and 0,2% respectively, while the paper Chilean CAP strengthened to 1.88%.

Quotes oilman Petroleo Brasileiro dropped to 0,2%. According to the Energy Information Administration (EIA), oil supplies last week rose 3.7 million barrels, causing a reduction in price of “black gold”.

One of the largest in Latin America retailers Cencosud managed to increase the market capitalization of 1.92%.

Papers of the largest in Latin America Power Centrais Eletricas Brasileiras advanced by 2% after it became aware of the overdue payment of dividends to shareholders of the company.

Brazilian real weakened against the U.S. dollar at 0,74%, the Chilean peso finished trading at 0.81% below the previous close, and the Mexican peso, by contrast, rose against the U.S. currency by 0,8%.

Values of the basic indexes on closing are resulted in the table:

Index Country Closing Change (items) Change (%) value at beginning of year (the last closing in 2009) Change YTD
MerVal Argentina 2,338.07 67.58 2.98% 2320.73 0.75%
Bovespa Brazil 70,385.47 309.69 0.44% 68588.41 2.62%
IBC Venezuela 59,307.03 1,692.07 2.94% 55075.68 7.68%
IGBC Colombia 11,639.21 63.31 0.55% 11602.14 0.32 %
Bolsa Mexico 32,836.08 43.42 0.13% 32120.47 2.23%
IGBVL Peru 15,539.13 -51.38 -0.33% 14167.2 9.68% &lte84;/td>
IGPA Chile 17,334.44 82.25 0.48% 16630.91 4.23%
IPSA Chile 3,760.02 19.82 0.53% 3581.42 4.99%


Forex Market 12/01/2010
Asia: Markets in turmoil, reporting Alcoa disarmed Commodity
Europe: corporate accountability have not added optimism
United States: the quarterly reporting season has started not the best way
Latin America: cheaper Commodities played into the hands of the bears
Forex Market. 13/01/2010
Asia: China gave a general collapse
Europe: following statements Societe Generale banking sector had to surrender
USA: pessimists, optimists have won

This entry was posted on Monday, January 18th, 2010 at 2:09 am.
Categories: Reviews and ideas.

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