EMERGING MARKETS-Latam stocks rise on Germany, "cliff" talks

Tue Dec 11, 2012 7:38pm EST

Related Topics

* Chile's IPSA sees sharp gains, most in over 4 months
    * German investor confidence spikes in December
    * Brazil Bovespa up 0.63 pct, Mexico IPC flat

    By Danielle Assalve
    SAO PAULO, Dec 11 (Reuters) - Latin American stocks rose on
Tuesday, w ith Chile's IPSA index < .IPSA> s coring the most gains
in more than four months, as positive investor confidence data
from Germany an d optimism about U.S. "fiscal cliff" talks
attracted buyers.
    Chile's IPSA rose 1.52 percent, ending the day at 4,198.77 
percent, and pushing the index into positive territory for the
year. Nonetheless, analysts warned that the gains likely
represented a brief spike rather than a more long-te r m shift.
    Brazil's Bovespa < .BVSP> notched gains for the third
consecutive session, rising 0.63 percent to 59,623.34 - its
highest level in more than a month. 
    Shares rose after data showed German analyst and investor
sentiment rose more than expected in December. 
    Investors also cheered statements by U.S. House of 
R epresentatives Speaker John Boehner , who s aid he re mained
hopeful that De mocrats and Republicans wo uld reach a deal to
avert the "f i scal cliff" of tax hikes and spending cuts by the
end-of-year dea d line. [ID : nL1E8NB6UF] 
    Commodities producers drove gains in the Bovespa with
preferred shares of iron ore giant Vale up 2.0
percent, while state-owned oil producer Petrobras 
gained 2.15 percent.
    "The market has rebounded in recent trading sessions and
this is very much related to the improvement of the
macroeconomic scenario for China and the U.S.," said Marcello
Paixao, a partner at Principia Capital Management. 
    "But it's still hard to say if it will remain consistently
high. This will only happen when companies start reporting good
results," he added.
    Mexico's IPC index was little changed as a 0 .93 
percent gain by t elecommunications giant America Movil 
he lped offset a 2. 6 p ercent drop by Me xican retailer and
beverage company Fe m sa <F MS AUBD.MX >.
    In Chile, retailer Falabella added 2.66 percent,
while steelmaker CAP rose 4.26 percent. 
    

    Latin America's key stock indexes at 0004 GMT:
                                                   % change
                              Latest              
                                                           
 MSCI LatAm                          3,735.66          1.08
                                                  
 Brazil Bovespa                     59,623.34          0.63
                                                  
 Mexico IPC                         43,183.28          0.11
                                                  
 Chile IPSA                          4,198.77          1.52
                                                  
 Chile IGPA                         20,576.19          1.27
                                                  
 Argentina MerVal                    2,558.76          1.52
                                                  
 Colombia IGBC                      14,591.84          0.63
                                                  
 Peru IGRA                          20,147.83           1.2
                                                  
 Venezuela IBC                     436,951.03          4.05
FILED UNDER:
Comments (0)
This discussion is now closed. We welcome comments on our articles for a limited period after their publication.