May 27, 2013 / 2:10 PM / 4 years ago

EMERGING MARKETS-Latam stocks little-changed ahead of key Brazil data

3 Min Read

* Brazil GDP data, interest-rate decision due Wednesday
    * U.S. and U.K. trading holidays keep volumes low
    * Brazil Bovespa, Mexico IPC nearly unchanged

    By Asher Levine
    SAO PAULO, May 27 (Reuters) - Latin American stocks were
little-changed on Monday as investors held off on taking
positions due to market holidays in the United States and the
United Kingdom, with attention turning to the release of key
Brazilian economic data later in the week.
    "The market is slow, basically dragging along today," said
Luiz Roberto Monteiro, a trader with brokerage Renascenca in Sao
Paulo. "You have a holiday in the States, a holiday here on
Thursday, (Brazil's) interest rate decision and GDP numbers on
Wednesday. The market is going to be in a holding pattern until
we get through this, as no one wants to be exposed right now."
    * Economists in a weekly central bank poll released Monday
trimmed their forecasts for Brazil's economic growth this year
to 2.93 percent, from 2.98 percent. Brazil will release its
first-quarter GDP results on Wednesday, the same day the central
bank issues its latest monetary policy decision.
    * Brazil's benchmark Bovespa stock index held near
Friday's closing levels as a 1.8 percent gain in steelmaker Cia
Siderúrgica Nacional SA offset a 1.2 percent drop in
homebuilder PDG Realty SA.
    * Shares of electric utility Cia Energética de Minas Gerais
SA were little-changed after executives from the firm
said on Monday that they would be aggressive in making
acquisitions and continue to participate in concession auctions.
    * Mexico's IPC index was down slightly. A 0.8 percent
rise in shares of mining firm Grupo Mexico offset
a 1 percent fall in broadcaster Grupo Televisa. 
    * Chile's IPSA index edged higher for the first
session in three, led by a 0.77 percent rise in shares of
regional energy group Endesa Chile. 
    Latin America's key stock indexes at 1337 GMT:
 Stock indexes                            daily %     YTD %
                                Latest     change    change
 MSCI LatAm                    3,653.95      0.05     -3.84
 Brazil Bovespa               56,443.42      0.07     -7.40
 Mexico IPC                   40,542.55      0.05     -7.24
 Chile IPSA                    4,201.34       0.1     -2.33
 Chile IGPA                   20,728.47      0.26     -1.62
 Argentina MerVal                  0.00         0   -100.00
 Colombia IGBC                13,458.61     -0.05     -8.54
 Peru IGRA                    16,484.42      0.18    -20.09
 Venezuela IBC               806,050.88         0     70.98

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