SAO PAULO, Jan 14 Brazilian stocks advanced
slightly on Tuesday, helped by telecom shares after Brazil's
competition watchdog approved the merger of Grupo Oi SA
and Portugal Telecom SGPS SA with no
Brazil's Bovespa, which dropped in two of the latest
three sessions, rose 0.24 percent, while the MSCI Latin American
stock index fell 0.48 percent.
Shares of Grupo Oi SA jumped 4.45 percent. Oi and
Portugal Telecom in October announced plans to form a new
company with more than 100 million subscribers and almost $19
billion in annual revenue.
"The decision was already expected, but it is always good to
have a definition. There's always some investors willing to buy
after it," said Fabio Gonçalves, an analyst with Banrisul
brokerage in Porto Alegre.
The Bovespa was one of the world's worst performing indexes
in 2013, a year of disappointing economic growth in Brazil, and
is currently trading close to four-month lows.
* Launches of new housing projects by Brazil's largest
homebuilder Cyrela rose 39.8 percent in the fourth
quarter from the same period a year before to 1.922 billion
reais ($812 million). Its shares rose 2.56 percent on Tuesday to
* Shares of Estacio Participacoes SA rose 2.19
percent to 19.62 reais after Brazil's education ministry revoked
the licenses of rival college operators Universidade Gama Filho
and UniverCidade, both based in Rio de Janeiro.
* Argentina's Merval stock index rose 0.3 percent,
driven up by Pampa Energia, while Chile's bourse
was down 0.04 percent.
Key Latin American stock indexes at 1447 GMT:
Stock indexes daily % YTD %
Latest change change
MSCI LatAm 3,085.75 -0.48 -3.13
Brazil Bovespa 49,547.64 0.24 -3.80
Mexico IPC 42,189.85 0.07 -1.26
Chile IPSA 3,617.33 -0.04 -2.21
Chile IGPA 17,903.96 -0.02 -1.77
Argentina MerVal 5,588.00 0.3 3.65
Colombia IGBC 12,572.25 0.15 -3.82
Peru IGRA 16,162.96 0.14 2.60