Reuters logo
EMERGING MARKETS-Latam stocks up after slump on U.S. budget fears
October 4, 2013 / 11:39 PM / 4 years ago

EMERGING MARKETS-Latam stocks up after slump on U.S. budget fears

MEXICO CITY, Oct 4 (Reuters) - Latin American stocks bounced
higher on Friday after slumping during the week as a U.S. budget
stalemate and government shutdown weighed down investor demand
for riskier assets.
    The region's stocks could be facing more losses next week if
worries deepen that feuding U.S. lawmakers might fail to raise
the country's borrowing limit this month, which could trigger an
unprecedented U.S. debt default.
    * Brazil's benchmark Bovespa stock index rose 0.68
percent as preferred shares of state oil firm Petrobras
 rose 0.7 percent. The index still finished the week
down nearly 1.7 percent in the last five sessions, its worst
week since the end of August. 
    * Petrobras shares bounced back after a slump early in the
session following an announcement from Moody's late Thursday
that Petrobras' debt rating would be lowered because of concerns
that fuel subsidies and huge investment commitments would cause
the company's debt to grow until at least 2015. 
    * OGX Petroleo e Gas Participacoes SA, the
debt-laden oil company controlled by Brazilian entrepreneur Eike
Batista, rose 4.55 percent after the company said late on
Thursday that it was considering all measures to protect assets
and stay in business. 
    The stock hit an all-time low this week after losing about
99 percent of its value from a 2010 high. Analysts and sources
have said the company is likely to run out of cash this month
and is preparing to file for bankruptcy within the next 30 days.
 
    * Mexico's IPC index added 0.17 percent as the shares
of bottler Femsa rose 1.87 percent. The IPC ended
the week nearly flat.
    * The shares of retailer Wal-Mart de Mexico 
fell 0.87 percent after the company said after market close on
Thursday that sales at its Mexican stores fell more than
expected in September, when massive flooding hit much of the
country. 
    * Chile's IPSA index rose for the second straight
session, adding 0.33 percent as industrial conglomerate Copec
 added 2.15 percent. 
    
    Latin America's key stock indexes at 2300 GMT:
 Stock indexes                             daily %    YTD %
                              Latest        change   change
 MSCI LatAm                      3,362.06     0.81   -11.47
                                                    
 Brazil Bovespa                 52,848.97     0.68   -13.29
                                                    
 Mexico IPC                     40,909.54     0.17    -6.40
                                                    
 Chile IPSA                      3,839.24     0.33   -10.74
                                                    
 Chile IGPA                     18,876.06     0.26   -10.41
                                                    
 Argentina MerVal                4,855.47    -0.22    70.11
                                                    
 Colombia IGBC                  14,046.16    -0.10    -4.55
                                                    
 Peru IGRA                      15,530.89    -0.75   -24.71
                                                    
 Venezuela IBC               1,747,754.98     0.04   270.73

Our Standards:The Thomson Reuters Trust Principles.
0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below