Major Latam Stock Indexes and Exchange Rate Changes in Q3-2013

 

 

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 TRACKER3RD QUARTER 2013

LATIN AMERICA/CARIBBEAN

COUNTRY

3RD QUARTER PCT CHANGE

ARGENTINA MERVAL-Local Currency

61.52%

ARGENTINA MERVAL-US$

54.47%

BRAZIL BOVESPA-Local Currency

19.30%

BRAZIL BOVESPA-US$

17.30%

COLUMBIA IGBC-Local Currency

11.39%

COLUMBIA IGBC-US$

12.25%

JAMAICA MAIN INDEX-Local Currency

-1.81%

JAMAICA MAIN INDEX-US$

-3.80%

MEXICO-Local Currency

-0.72%

MEXICO-US$

-1.57%

MSCI LATIN AMERICA-Local Currency

5.95%

MSCI LATIN AMERICA-US$

4.71%

MSCI EMERGING MARKETS-Local Currency

6.26%

MSCI EMERGING MARKETS-US$

6.33%

Sources: Stock exchangewebsites, Financial Times, Advansa International data

 

Table 2

3RD QUARTER 2013 EXCHANGE RATE CHANGE

LATIN AMERICA/CARIBBEAN

COUNTRY

3RD QTR PCT CHG

YTD

SEP PCT CHANGE

ARGENTINA

-7.04%

-15.16%

BRAZIL

-2.00%

-9.31%

CHILE

0.70%

-4.70%

COLOMBIA

0.86%

-7.70%

COSTA RICA

-0.11%

1.95%

JAMAICA

-1.99%

-10.11%

MEXICO

-0.85%

-1.16%

PERU

0.18%

-8.23%

TRINIDAD & TOBAGO

-0.16%

-0.01%

Sources: Financial Times, Advansa International data

 

Table 1 shows stock market returns for several markets through September 27, 2013. Several of the regions stock markets posted strong gains, consistent with the MSCI index which rose almost 6% in local currency. The Merval exchange in Argentina was up 61% for the quarter driven by big gains by YPF, Tenaris, and Grupo Financiero Galicia, which are among the volume leaders in that market. The Bovespa in Brazil was up 19% as most major issues registered big gains.

Exchange rates changes were small in Q3 except for Brazil whose economy has slowed considerably and Argentina where persistent inflation has lead to continued weakness in the peso.

In Mexico the peso has fluctuated within a narrow range, declining slightly this quarter as money market rates have fallen, however it is not clear that the pattern has changed appreciably.

 

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