Major Latam & Caribbean Stock Indexes and Exchange Rate Changes in Q3

Advansa International follows exchange rates and stock market indexes for several emerging and frontier markets. Exchange rates and stock indexes are recorded on the last trading day of the week. The tables below show changes from the last trading day of the last full week of the quarter for several key markets in Latin America, and the Caribbean.

Table 1 

 STOCK MARKET INDEX TRACKER 3RD QUARTER 2012

LATIN AMERICA/CARIBBEAN

COUNTRY

3RD QUARTER PCT CHANGE

ARGENTINA MERVAL-Local Currency

1.35%

ARGENTINA MERVAL-US$

-2.22%

BRAZIL BOVESPA-Local Currency

8.87%

BRAZIL BOVESPA-US$

8.36%

COLUMBIA IGBC-Local Currency

4.76%

COLUMBIA IGBC-US$

3.87%

JAMAICA MAIN INDEX-Local Currency

-0.23%

JAMAICA MAIN INDEX-US$

-1.66%

MEXICO-Local Currency

1.66%

MEXICO-US$

6.08%

MSCI LATIN AMERICA-Local Currency

3.19%

MSCI LATIN AMERICA-US$

4.35%

MSCI EMERGING MARKETS-Local Currency

5.14%

MSCI EMERGING MARKETS-US$

6.97%

Sources: Stock exchange websites, Financial Times, Advansa International data

Table 2

3RD QUARTER 2012 EXCHANGE RATE CHANGE

LATIN AMERICA/CARIBBEAN

COUNTRY

3RD QTR PCT CHG

YTD SEPT PCT CHANGE

ARGENTINA

-3.57%

-8.26%

BRAZIL

-0.51%

-8.06%

CHILE

5.85%

9.46%

COLOMBIA

-0.89%

7.64%

COSTA RICA

0.04%

2.80%

JAMAICA

-1.43%

-3.67%

MEXICO

4.42%

8.54%

PERU

2.62%

3.85%

TRINIDAD & TOBAGO

0.00%

-0.12%

Sources: Financial Times, Advansa International data

Table 1 shows 2012 stock market returns for several markets through the end of September. The Bovespa in Brazil showed the greatest strength, up by over 8% both in US$ Dollars and the local Reais. Some central banks such as in Brazil and Colombia are sensitive to their currencies being overvalued which threatens export competitiveness. Deliberate weakening of these currencies depressed dollar returns in their equity markets. Meanwhile, fundamental weakness in some countries like Jamaica tended to depress the local currency. The Mexican peso on the other hand, due to low inflation and strong export performance was strong throughout the year including the most recent quarter.

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