Latin American stocks were mostly higher, while currencies firmed on Monday, backed by solid consumer spending data in the US. The only exception was Brazilian stocks, which fell after economists raised their forecasts for inflation rate, stoking fears of more aggressive action by the country’s central bank.

The benchmark Bovespa index slipped 0.18 per cent, falling for the fourth consecutive day.  The index is at its lowest level since September. Mexico’s IPC index rose 0.39 per cent, supported by a 0.62 per cent advance in copper miner and railroad operator Grupo Mexico. Chile’s IPSA edged up 0.02 per cent. Continue reading »

Asian stocks continued to fall on Monday as political protests in Egypt continued for a seventh day and corporate earnings were worse than expected. Asian currencies fell sharply against the US dollar.

“Egypt does seem to have become a bit of a worry for markets,” said Shane Oliver, head of investment strategy in Sydney at AMP Capital Investors. “Share markets were already vulnerable to bad news after recent strong gains, and alongside worries about tightening in Asia to combat inflation, the unrest in Egypt could prove to be a trigger for a correction.” Continue reading »

* Egypt debt worries rise on Moody’s downgrade

* India conditionally OKs $12 bln POSCO steel mill

* Cnooc strikes second US shale deal

* Opposition rejects new faces in Egyptian regime

* South Sudan votes 99 per cent to separate from north Continue reading »