EMERGING MARKETS-Latam stocks flat as earnings season approaches
* Volume low with U.S. markets closed for national holiday * Brazil Bovespa, Mexico IPC little changed By Asher Levine SAO PAULO, Jan 21 (Reuters) - Latin American stocks were virtually unchanged on Monday as a U.S. national holiday dampened trading and investors exercised caution over fourth-quarter earnings results. Brazil's benchmark Bovespa stock index edged down 0.09 percent to 61,899.71 points. The Bovespa has hovered near 62,000 points for a week as investors hold off on taking new positions ahead of corporate earnings. "The expectation is that results will improve a bit from the third quarter but worsen from the same period last year," said Marcello Paixao, a partner with Principia Capital Management in Sao Paulo. "The Bovespa will remain around these levels for some time, since the companies with the best performance are already expensive and the outlook for other sectors is still cloudy." Shares of state-controlled oil company Petroleo Brasileiro SA, known as Petrobras, fell 0.97 percent, contributing the most to the index's losses, while rival OGX Petroleo e Gas Participacoes SA, controlled by Brazilian billionaire Eike Batista, fell 0.4 percent. Preferred shares of telecommunications firm Grupo Oi SA fell 5.13 percent after a local news magazine reported on Saturday that Chief Executive Francisco Valim could be on his way out due to conflicts with the company's top shareholders. A press representative for Oi declined to comment. Shares of electric utility AES Eletropaulo gained more than 4 percent. The company said a Brazilian court approved its application to appeal a judgment requiring it to pay Centrais Eletricas Brasileiras SA, known as Eletrobras, 1.3 billion reais ($636.6 million) for an outstanding loan. Eletrobras shares ended up 5.48 percent. Mexico's IPC index eked out a gain of 0.03 percent to close at 45,223.85 points. Shares of telecommunications firm America Movil rose 0.06 percent after the company said on Monday that it signed a contract to acquire a unit of entertainment firm CIE . Chile's IPSA index edged down 0.03 percent at 4,527.04 points. Latin America's key stock indexes at 2200 GMT: Stock indexes % change Latest MSCI LatAm 3,930.19 -0.17 Brazil Bovespa 61,899.71 -0.09 Mexico IPC 45,223.85 0.03 Chile IPSA 4,527.04 -0.03 Chile IGPA 22,032.97 0.01 Argentina MerVal 3,250.39 1.65 Colombia IGBC 14,778.36 -0.10 Peru IGRA 21,747.62 0.37 Venezuela IBC 484,333.38 -0.27
DAVOS, Switzerland - Central banks have done their best to rescue the world economy by printing money and politicians must now act fast to enact structural reforms and pro-investment policies to boost growth, central bankers said on Saturday.