Mexico’s Bolsa Falls on Interest Rates Concern: Latin Stocks
Mexico’s benchmark stock index fell for a third day after an employment report from Washington spurred concern higher rates will slow the economy in the U.S., the biggest market for Mexican exports.
The Mexican Bolsa fell 186.60, or 1.3 percent, to 14,425.62 as of 2:51 p.m. New York time, reducing the gain in the week to 0.1 percent. Elsewhere in the region, Brazil’s Bovespa was little changed, falling 26.54, or 0.1 percent, to 26,443.36.
Employers in the U.S. added 207,000 workers in July, the Labor Department said, exceeding the median economist estimate of 180,000 in a Bloomberg News survey. Workers’ average hourly earnings rose 0.4 percent, the most in a year. The prospect of higher wages suggests Federal Reserve policy makers will keep increasing interest rates to contain inflation, economists said.
“The employment report and other accumulating data shows the U.S. economy is solid and that interest rates are likely to rise,'’ said Carlos Hermosillo, an analyst with Vector Casa de Bolsa SA, in Mexico City.
More: bloomberg.com
Mexico's Bolsa Rises to Record, Led by Walmex: Latin Stocks
Mexico's Bolsa stock index rose above 18,000 for the first time, led by Wal-Mart de Mexico SA, Latin America's largest retailer, on expectations that the central bank will continue cutting interest rates early next year.
The index rose to a record for a third day, gaining 209.82, or 1.2 percent, to 18,029.50 at 3:12 p.m. New York time. The Bolsa has surged 4.8 percent since Dec. 8, the day before Mexico's central bank cut its benchmark lending rate more than expected to 8.25 percent. The cut followed a government report that
Mexico's Bolsa Falls for Week on Profit Concerns: Latin Stocks
Mexico's Bolsa index fell, heading for a second straight weekly decline, on concern that earnings growth may slow and the government may become less favorable to investors after this year's election.
Mexico's Bolsa fell 319.21, or 1.7 percent, to 18,199.12 at 2 p.m. New York time, and has fallen 3.6 percent for the week. Cemex SA, the world's third-largest cement maker, led today's decline. Brazil's Bovespa rose 92.96, or 0.3 percent, to 36,975.27, paring its decline for the week to 0.8 percent.
``You are starting to see opinions that emerging
Mexicos Stock Index Falls on Political Concern: Latin Stocks
Mexicos stocks fell for a third day on concerns a Felipe Calderon administration would lack support in Congress to pass legislation opening the energy industry to private investment and keeping the budget balanced.
The Bolsa index fell 136.30, or 0.7 percent, to 19,563.85 as of 3:56 p.m. New York time, led by Wal-Mart de Mexico SA, Latin Americas largest retailer. Elsewhere in the region, Brazils Bovespa rose 403.66, or 1.1percent, to 36,544.30.
Mexicos Bolsa last week rose the most in three months after a second vote tally from the July 2
Brazil Bovespa Falls on Politics; Mexico Falls: Latin Stocks
Brazil's main equity index fell for the first time this week, led by state-controlled oil company Petroleo Brasileiro SA, on concern further revelations from a probe into alleged vote-buying may weaken the government.
The Bovespa index of the most-traded stocks on the Sao Paulo Stock Exchange fell 555.25, or 2.1 percent, to 25,364.70 at 1:22 p.m. New York time. The Bovespa gained 3.9 percent for the week, boosted by a poll Tuesday that showed President Luiz Inacio Lula da Silva's approval rating rose in June, easing concern he would lose support over
Brazil, Mexico's Indexes Fall on U.S. Inflation: Latin Stocks
Brazil and Mexican benchmark stock indexes fell as higher-than-expected inflation in the U.S. raised concern interest rates may keep rising, reducing inflows to emerging markets.
Brazil's Bovespa index of the 57 most-traded stocks in the Sao Paulo stock exchange fell 514.20, or 1.7, to 29,727.41 at 2:13 p.m. New York time. The drop was led by state-controlled oil company Petroleo Brasileiro SA. In Mexico, the Bolsa fell 158.93, or 1 percent, to 15,123.80, led by America Movil, Latin America's largest wireless telephone company.
``Inflation there raises fears of lower growth and
Mexico's Bolsa Rises on Fox Budget Proposal: Latin Stocks
Mexico's benchmark stock index rose a fifth day, extending a record, after President Vicente Fox submitted a plan to generate a budget surplus for the first time in a decade.
The Mexican Bolsa rose 142.78, or 1 percent, to 15000.09, at 12:03 p.m. New York time. Cemex SA, the world's third-largest cement maker, led the rise. Elsewhere in Latin America, Brazil's Bovespa was little changed, rising 26.96, or 0.1 percent, to 28,548.96.
Fox's budget plan, which proposes paying down external debt for a third straight year in 2006, adds to investor
Mexico Bolsa Falls on Shift to Brazil, Yields: Latin Stocks
Mexican stocks fell for a second day, led by America Movil SA, as investors sold Mexican stocks to increase positions in Brazil after Fitch raised the South American country's debt outlook.
The Bolsa index of the most-traded stocks in Mexico City fell 346.41, or 2.2 percent, to 15,098.96 at 1:15 p.m. New York time. Elsewhere, Argentina's Merval fell 37.44, or 2.3 percent, to 1606.52.
Mexican stocks extended their decline today after Fitch Ratings yesterday revised the outlook on Brazil's debt to ``positive'' from ``stable.'' Fitch rates Brazil BB-, three levels below
Brazil's main stock index rose for a third week as slowing inflation spurred expectations the central bank will cut interest rates this month.
The Bovespa index of the 57 most traded stocks of the Sao Paulo stock exchange rose 479.85, or 1.7 percent, to 29,307.91, making a 3.5 percent gain this week, a third weekly gain. Gerdau SA, Latin America's largest steelmaker, led the weekly gain. Elsewhere in the region, Mexico's Bolsa rose 156.96, or 1 percent, to 15,212.88, for a 3 percent weekly gain.
Brazil's annual inflation rate dropped to a 15-month low of 6.02 percent in August, the
Latin American Stocks Decline, Led by Mexico, on Rate Concerns
Latin America's benchmark stock index fell to the lowest level in more than a month as rising interest rates worldwide prompt investors to pull money out of riskier securities such as equities.
The Morgan Stanley Capital International index of Latin American stocks fell 1.7 percent to 1879.60 as of 12:37 p.m. New York time, its lowest level since Sept. 5, led by Mexico's America Movil, Latin America's No. 1 wireless telephone company.
``Investors are getting out of volatility to go to safe havens,'' said Alfredo Rotemberg, who helps manage $220
Mexico's Bolsa Rises, Led by America Movil, Cemex: Latin Stocks
Mexico's benchmark stock index rose to a record on the prospect of government spending on construction that will spur profits at companies such as cement maker Cemex SA.
The Bolsa index rose 150.54, or 1.1 percent, to 14,123.15 as of 1:50 p.m. New York time, surpassing the previous high July 14. America Movil SA, Latin America's No. 1 mobile-phone company, led the gain followed by Cemex, the world's third-largest cement maker. Elsewhere in the region, Chile's IPSA index of 40 stocks rose 1 percent to 2124.10, headed for a third
