No success stories available!

Sadia is one of the world’s leading producers of chilled and frozen foods. Established in Brazil in 194...
Cyrela Brazil Realty is the largest residential real estate developer in Brazil. Considered one of the m...
Today, Banco do Brasil is the largest financial institution in the Country with 24.4 million clients and ...
CPFL Energia is a holding company in Brazilian electricity sector, operating through its subsidiaries in ...
Copersucar S.A. is the largest Brazilian sugar, ethanol and bioenergy company and a significant player in...

Latam stocks slide; Brazil’s pension reform in focus

Latin American stocks fell on Tuesday, led by declines on Brazil’s Bovespa as investors awaited more clarity on the much- awaited pension reform, while currencies in the region were mixed against a softer dollar. MSCI’s index of Latin American stocks fell 0.7 percent, with broad-based losses across indexes. Sao Paulo-traded stocks fell more than 1 percent, led by shares of financial companies, which are typically sensitive to news regarding the pension reform. The House Constitution and Justice Committee will meet later in the day and Deputy Delegate Marcelo Freitas is expected to present an opinion favorable to the admissibility of the pension reform. “The event will be an important thermometer of support for the agenda,” economists at XP Investimentos said in a note. The pension reform is seen as the single most important economic reform for Brazil and its mounting fiscal deficit. But delay in its implementation and alteration of the original bill has wobbled investor sentiment in the recent past. The International Monetary Fund’s cut in its growth forecasts for Latin America for the next two years amid uncertainty over the slowdown in global activity also weighed on sentiment. In a contrasting opinion, however, ratings agency Moody’s was bullish on Brazil’s reform agenda, which it believes could potentially boost economic growth and support fiscal consolidation. Mexico’s peso rose 0.3 percent on higher oil prices, while stocks on the IPA index fell about half a percent. Chile’s peso rose marginally, tracking a gain in the price of copper, the country’s top export, while stocks on the IPSA index slipped 0.4 percent.

Key Latin American stock indexes and currencies at 1445 GMT

Stock indexes daily %Latest changeMSCI Emerging Markets 1093.82 0.49MSCI LatAm 2837.06 -0.42Brazil Bovespa 96450.28 -0.94Mexico IPC 45206.71 -0.51Chile IPSA 5255.28 -0.37Argentina MerVal 32841.70 -0.72Colombia IGBC 13218.06 -0.26Currencies daily %

change Latest

Brazil real 3.8561 -0.20Mexico peso 18.9320 0.15Chile peso 663.3 0.05Colombia peso 3100.92 0.40Peru sol 3.292 -0.12Argentina peso 43.7900 -0.09

(interbank)