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4 years ago
EMERGING MARKETS-Brazil stocks choppy as investors await earnings
August 5, 2013 / 3:33 PM / 4 years ago

EMERGING MARKETS-Brazil stocks choppy as investors await earnings

* Vale, Petrobras to announce earnings results later this
week
    * Brazil Bovespa up 0.12 pct, Mexico IPC down 0.42 pct

    By Lucas Iberico-Lozada
    SAO PAULO, Aug 5 (Reuters) - Brazilian stocks gained
modestly on Monday after swinging widely throughout early
morning trading as investors waited for corporate results later
this week from heavily weighted mining firm Vale and state-run
oil company Petrobras.
    Mexico's IPC index capped a three-session rally,
while Chile's IPSA index had its second session of
losses.
    "The weak economic situation and indecision on monetary
policy locally is weighing heavily on the Bovespa, but there
isn't much to say about the market today," said Alvaro Bandeira,
a partner at Orama Investimentos in Rio de Janeiro. "Investors
are waiting on corporate data later this week."
    On Monday, HSBC's Purchasing Managers Index for Brazilian
Services, a closely watched business survey, showed
Brazil's private sector barely expanded in July as new work
slowed, contributing to signs that Latin America's largest
economy started the second half of 2013 on the wrong foot.
 
    Brazil's benchmark Bovespa stock index rose 0.12
percent to 48,531.36 after swinging widely in early trading.
    Shares of drugmaker Hypermarcas rose 3.2 percent
after it announced a surprise second-quarter profit on Friday.
 
    Local steelmakers also gained, with shares of Usinas
Siderurgicas de Minas Gerais SA, known as Usiminas,
rising 1.5 percent.
    Mexico's IPC index fell 0.42 percent as it
encountered technical resistance at just above 41,876.20.
    Shares of bottler and retailer Femsa fell 1.7
percent, while shares of retailer Wal Mart de Mexico
 fell 0.9 percent.
    Chile's IPSA index fell for the second session in a
row, as the index remained range-bound between just over 3,900
points and slightly over 3,700 points.
    Shares of retailer Falabella weighed heaviest on
the market, dipping 1.2 percent.
    
    Latin America's key stock indexes at 1518 GMT:
     
 Stock indexes                              daily %      YTD %
                         Latest              change     change
 MSCI LatAm                    3,198.86       -0.51     -15.34
                                                     
 Brazil Bovespa               48,531.36        0.12     -20.38
                                                     
 Mexico IPC                   41,876.20       -0.42      -4.19
                                                     
 Chile IPSA                    3,799.22       -0.56     -11.67
                                                     
 Chile IGPA                   18,711.90       -0.41     -11.19
                                                     
 Argentina MerVal              3,459.32        0.01      21.20
                                                     
 Colombia IGBC                13,776.32       -0.07      -6.38
                                                     
 Peru IGRA                    15,290.36       -0.05     -25.88
                                                     
 Venezuela IBC             1,249,789.00           0     165.10

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