Thursday,April 09,2020

LATAM Stock Markets Recovered in Closing Restless Week by Brazil and the US

LATAM Stock Markets Recovered in Closing Restless Week by Brazil and the US

Latin American stock markets recovered part of the lost ground this week due to the political upheavals in Brazil and the US, which have had a strong impact on the markets.

Wall Street posted gains on Friday, but accumulated weekly losses, after several days of volatility, amid the biggest crisis in Donald Trump’s tenure in the US due to the dismissal of the FBI chief and the new impetus To the investigation of its alleged links with Russia.
Thus, the Dow Jones today gained 0.69% and reached 20,804.84 whole, but lost 0.4% in the week. The selective S & P 500 rose 0.68% to 2,381.73 units, but yielded 0.4% in the week; And the Nasdaq composite index advanced 0.47% but had a 0.6 weekly decline, to be placed Friday at 6,083.70 points.

Meanwhile, in Latin America, the main regional market, Sao Paulo, recovered ground after collapsing on Thursday by 8.80%, due to new cases of corruption that have uncovered directors of meat giant JBS.

The scandal is based on testimony from executives of JBS, who confessed that they pay bribes to President Michel Temer since 2010 and that since 2005, they distributed between former presidents Luiz Inacio Lula da Silva and Dilma Rousseff the sum of 80 million Of dollars, always for the “favors” made from their positions of power.

Despite this crisis, in Sao Paulo, the Ibovespa index rose 1.69% to 62,639 points, with movements of 13.544 million reais (about US $ 4.16 billion), and boosted the rest of the region’s markets.

Thus, the Mexican stock market appreciated 1.54% and the Index of Prices and Quotes (CPI) stood at 49,067.47 whole, after transactions for 14,811 million Mexican pesos (about 794.1 million dollars).

The Merval index of Buenos Aires rose 2.76% to 21,614.87 units, after reaching a financial volume of 430.15 million Argentine pesos (about 26.85 million dollars).

In Santiago, the IPSA index closed with a positive variation of 0.39% and stood at 4,793.71 points, after adding operations for 99,842,587,513 pesos (about 149.24 million dollars).

Colombian parquet gained 0.47% in its Colcap index , which stood at 1,436.19 whole, after a sale of securities for 308,136.29 million pesos (about 101.67 million dollars)

The S & ú General closed at 16,186.44 units, after climbing 1.43%, in a session in which they traded 22,803,414 soles (about 6,946,966 dollars).
And the Global Bond Index of the Montevideo Stock Exchange rallied 0.04% and closed at 109.17 points, with operations for 71,012,873 Uruguayan pesos (2,505,114 dollars).

The evolution of the Latin American stock markets was as follows:

Market       Close Points

SAO PAULO +1.69% 62.639

MEXICO +1.54% 49,067.47

BUENOS AIRES +2,76% 21,614,87

SANTIAGO +0,39% 4,793.71

COLOMBIA +0,47% 1,436,19

LIMA +1.43% 16,186.44

MONTEVIDEO +0,04% 109,17


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LATAM Stock Markets Recovered in Closing Restless Week by Brazil and the US