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On Thursday, 30 July, the stock markets of Latin America have demonstrated positive dynamics on the background of rising prices for oil and metals. According to the Brazilian authorities, the record low interest rates will support the economy of the country and will not lead to a significant increase in inflation. According to estimates of analysts JPMorgan, the GDP of Brazil, possibly in the second quarter grew at 4.3% compared with the previous quarter, while the third and fourth quarters of the value of the rate increase by another 5% and 3.5% respectively.
The market of Argentina is also not left without the attention of investors. For example, one of the asset managers Morgan Stanley increased its share of investments in shares of Argentine companies in connection with the fact that in his view, the country's new president will pursue a more rational policy.
As a result of bidding, the Regional EM Latin America index has added 1,31% and closed at around 1227.451. Argentine MerVal grew at 2.45%. Chilean blue-chip IPSA index strengthened to 0.34% and IGPA closed at 0.25% above the previous value. Brazil's Bovespa has added 1,38%.
Shares of Brazilian state oil company Petroleo Brasileiro recovered at 1% appreciation against the backdrop of oil. Papers Vale, the world's largest iron ore producer, advanced 0.5%. According to the company, demand for metals is beginning to recover, which they expect to increase output. Following the closure of bidding Vale reported a decline in net profit to the maximum value achieved in the past year, $ 5.01 billion, or $ 1.04 per share, to $ 790 million, or 15 cents per share.
Quotes of second-and third-largest steel producer in Brazil's Usinas Siderurgicas de Minas Gerais and Cia. Siderurgica Nacional rose by 3.5% and 2.7% respectively, against a background of forecasts of analysts JPMorgan Chase about the growth of the economy. Paper largest Brazilian Internet retailer, B2W Cia. Global do Varejo added 1.3% of the value and market capitalization of the second largest in the country of the airline Gol Linhas Aereas Inteligentes has increased by 2.4%.
Shares of Mexican Cemex recovered by 5.7% after analysts JPMorgan Chases reiterated recommendation buy on a paper company, referring to the restoration of U.S. economy, which is the largest market for cement manufacturers.
The market capitalization of the second largest in the Argentine telephone company Telecom Argentina has increased by 3% against the backdrop of improving professionals Raymond James Associates recommendations for securities companies to hold to buy.
The values of major indices at the closing are shown in the table:
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| Index | Country | Closing | Change (items) | Change (%) | Value at beginning of year (the last closing in 2008) | Change from the beginning of the year |
|---|---|---|---|---|---|---|
| MerVal | Argentina | 1,696.19 | 40.51 | 2.45% | 1079.66 | 57.10% |
| Bovespa | Brazil | 54,478.43 | 743.9 | 1.38% | 37550.31 | 45.08% |
| IBC | Venezuela | 46,245.70 | 34.44 | 0.07% | 34927.66 | 32.40% |
| IGBC | Colombia | 10,268.90 | 224.48 | 2.23% | 7560.68 | 35.82 % |
| Bolsa | Mexico | 26,810.27 | 293.77 | 1.11% | 22380.32 | 19.79% |
| IGBVL | Peru | 13,894.23 | 54.89 | 0.40% | 7048.67 | 97.12% |
| IGPA | Chile | 15,340.24 | 38.77 | 0.25% | 11324.07 | 35.47% |
| IPSA | Chile | 3,240.27 | 10.97 | 0.34% | 2376.42 | 36.35% |
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