|
Brazilian Market Volatile Mirroring the U.S. |
|
|
|
|
Written by Linda Shea
|
|
Wednesday, 13 April 2005 |
|
Brazilian and Latin American markets ultimately finished lower on the day, after see-sawing between positive and negative territory for much of the session. Shares initially benefited from cooling U.S. inflation concerns, amid yesterday's release of the FOMC minutes from the March meeting and today's weaker-than-expected retail sales report for March.
Still, despite receding oil prices, U.S. stocks turned lower in the latter half of the day, followed by Brazilian and Mexican issues. Meanwhile, Argentine issues continue to falter ahead of the resolution of the nation's debt restructuring.
Brazil's benchmark Bovespa Index receded 140.10 points, or 0.53%, while Mexico's benchmark Bolsa Index tumbled 97.87 points, or 0.78%. Argentina's Merval Index slumped 28.03 points, or 2.04%.
In economic reports, the International Monetary Fund boosted its economic growth forecast for Latin America and the Caribbean to 4.1% in 2005 from its prior outlook of 3.6% growth. Domestic demand was one of the key reasons |
