beyondbrics

Latin American stocks rallied strongly on Friday, after positive US jobs data eased fears about the health of global economy and commodity prices bounced back from their harsh sell-offs during the previous session. The MSCI Latin American index rose 1.4 per cent to 4,437, however it lost 4.3 per cent over the week. Brazil’s benchmark Bovespa index rallied 1.59 per cent to 64,417, helped by the news that inflation growth has slowed last month. The index still clocked up losses of 2.6 per cent over the week.

Mexico’s IPC index however, continued its week-long slide, falling 0.32 per cent to 35,212, its lowest level since October 2008. Losses were led by America Movil, a telecoms group controlled by the billionaire Carlos Slim, which fell 1 per cent on Friday and lost more than 10 per cent since being fined $1bn by the regulators.

Chile’s IPSA index rose 0.5 per cent 4,814. Argentina’s Merval index rose 0.3 per cent to 3,315.

Peru’s Lima General index continued its spectacular rally rising 5.5 per cent to 21,770, reaching a 5-week high, and gaining nearly 11 per cent over the week, as investors continued to bet that right-wing Keiko Fujimori will win the presidentail election in June. She has narrowed the lead of her left-wing opponent Ollanta Humala.

Equities
Brazil: Bovespa +1.59% at 64,417
Mexico: IPC -0.32% at 35,212
Chile: IPSA +0.52% at 4,814

Currencies
Brazilian real at 1.61 (from 1.61) to the dollar
Mexican peso at 11.62 (from 11.62) to the dollar
Colombian peso at 1,771 (from 1,771) to the dollar
Chilean peso at 468.00 (from 468.00) to the dollar