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Brazil's Unions and Industry Oppose Higher Interests
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Brazil Benchmark Rate Raised 0.25%
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Brazil Industry Criticizes Higher Interests
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Lula Defends Brazil's Central Bank Interest Rates Policy
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Brazil's Central Bank Chief Promises Lower Interests
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Only Lower Brazil Risk Will Bring Interests Down
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Brazil's Central Bank Expected to Raise Interests
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How Much Will Brazil Hike Interest Rates?
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Brazil: Stocks Down on News That Central Bank Chief May Resign
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Tight Money Depresses Brazil Stocks
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Inflation Fears Made Brazil Do It
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Brazil Stays the Course Despite Political Pressure
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Inflation Fears Bring Market Down in Brazil
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Market Analysts Keep Saying Brazil's GDP Won't Grow Over 3.5%
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Brazil Explains High Interest Rates: Christmas and Oil
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Average Interest Rate in Brazil: 29% a Year. In the World: 4%
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It's Been Ten Years Since Banks Had So Much Profit in Brazil
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Brazil Market Upbeat Despite High Interests
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Interest Rates Still Too High, Brazil Admits
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Market Falls in Brazil Over Interest Rate Worries
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Brazil Markets Follow US Lead
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Rewrite Your Books. Brazil Grew in 2003.
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US Analyst Forecasts Doom for Brazil's Economy
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Brazil's Industries Federation Insists: Interests Must Go Down.
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Fearing Inflation, Brazil Raises Interest Rates to 17.75%
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Brazil's Central Bank to Keep Interest Rates High
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Market Lower in Brazil Amid Fears of Higher Interest Rates
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US Earning Season Lifts Brazilian Stocks
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Interest Rate Fears Bring Brazil Market Down
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Brazil's Central Bank Hikes Interest Rates to 18.25%
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Brazil's Interest Rates Scare Investors
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Lower Interest Rates Won’t Be Enough for Brazil. But It’s a Start.
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Brazil Waiting for an Interest Rate Boost
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Brazilians Pay World's Highest Interest Rates
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Brazil's Central Bank New 19.25% Interest Rates Draw Unions' Ire
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Don't Expect Lighter Taxes Soon, Says Brazil
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Fleeing Brazil Market to Higher Ground
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U.S. Consumer Price Hike Depresses Brazil Market
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Brazil Ends Market Week in Selling Mood
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Interest Rates Are Hurting Brazil, Says Industries Federation
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A Map to Lower Brazil's Interest Rates from 19.5% to 4%
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Lula Blames Inflation on Brazil's High Interest Rates
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Brazil Boosts Interest Rates for 9th Time in a Row
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Dollar Falls to a Three-Year Low in Brazil
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Interest Rate Hikes Not Reining In Brazil's Inflation
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Brazil Plays Catch-Up to the US and Stocks Shoot Up
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Raising Interest Rates Is Not Working in Brazil
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Brazil Betting Tight Credit Is Ending
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Rumors About Brazil's Chief of Staff Stepping Down for Corruption Shake Market
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A First in 10 Months: Brazil Leaves Interest Rates Alone
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Brazilian Top Unions Blast Copom for Not Cutting Interest Rates
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Brazilian Industry Wants Urgent Reduction of Interest Rates
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Lulas's Plan to Reshuffle Cabinet Brings Good Tides to Brazil Market
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It's Time Brazil Adopts a More Flexible Monetary Policy, says BNDES Chief
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Oil Prices Scare Brazilian Investors
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Lula Talks About Cuts in Interest and Market Soars in Brazil
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Lula and Minister Bet Interest Rates in Brazil Will Fall Soon
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Low Inflation Leads Brazil to Hold Benchmark Interests at 19.75%
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Brazil's Industry Leader Calls Interest Rates 'Absurd'
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Brazilian Industry Blames High Interests for Slow Growth
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Good Political and Economic News in Brazil Helps Drag Market Up
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US Market Rises. Brazil Follows the Leader.
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Latin American Market Bounces Back Led by Brazil
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Brazil Keeps Key Interest Rates for Third Month at 19.75%
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Hurricane Katrina Spares Brazilian Bulls
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Raising Interest Rates Is Not A Whim, Says Brazil's Finance Minister
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Only Pact with Devil Explains Brazilian Progress, Says Brazil's Vice-President
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Industry Output Drop in Brazil Fuels Hopes Interests Will Fall
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Good Financial News in Brazil Makes Stocks Soar
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In Brazil, High Interests Are a Rich's Best Friend
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News of Lula's Waning Popularity Depresses Brazil Stocks
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Brazil Lowers Interests to 19.50%. Right Drug, Wrong Dosage, Say Critics
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Brazil's Interest Rates Are Still 6 Times Higher Than the US's
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Brazil Follows U.S. and Gets Back to Black
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Brazil Cuts Interest Rates by 0.5%. Largest Reduction in 2 Years.
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Outlook for Brazilian Economy Remains Upbeat
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Interest-Rate Cut to 18.5% Boosts Brazil Market
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Brazil Reduces Benchmark Interest Rate Again. Still 18.5%.
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Brazil Reassured That Finance Minister Won't Fall
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For Minister, High Interests and Low Dollar Are Hurting Brazil
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Lula's Popularity and Interests Fall, But Brazil Stock Hits Record High
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Brazilian Industry Says Disappointing Cut in Interests Brought Bitter Christmas
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Brazil to Lower Its Long-Term Interest Rates to 9%
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Brazil Confident Foreigners Will Keep Their Money in the Country
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Hopes for Lower Interest Give Brazilians Stocks a Push
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Brazil Expecting Half-Percentage Cut in Key Interest Rate
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Brazil Reduces Key Interest Rate by 0.75% to 17.25%
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Lower Interests and Higher Surplus Fuel Brazilian Market Rebound
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High Inflation Doesn't Deter Bulls in Brazil
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Taxes and High Interests Are the Main Bad Guys in Brazilian Economy
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Brazil's New Key Interest Rate Shows Central Bank's Arrogance, Says Industry Federation
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Key Interest Rate in Brazil Falls 2.5%, But Bank Loan Interests Drop Mere 0.19%
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Brazilian Central Bank's Survey Offers Hint of Falling Interest Rates
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Experts Expecting Lower Interest Rates in Brazil
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Belt-Tightening Won't Be Loosened, Says Brazil's New Finance Minister
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Market Betting Brazil Will Lower Key Interest Rates 2.5% to 14%
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Monetary Easing in US Brings Record Day to Brazil's Market
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Brazil Experts Betting Key Interest Rate Will Fall 0.75% to 15.75%
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As Expected, Brazil's Key Interest Rate Drops to Still High 15.75%
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Brazil's Jobless Rate Jump to 10.4% Is Bad News for Market Too
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Personal Loans at 59% Interest Rate: The Lowest Brazil Has Seen in 12 Years
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Investors Keep Fleeing in Droves from Brazil
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Brazil's Key Interest Rate Drops 0.50%. Still High at 15.75%.
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Brazil's Benchmark Interest Rate the Lowest in 5 Years
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Brazilian Shares Rebound After Interest Rate Cut
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Brazil Cuts Key Interest to Record Low, But It's Still World's Highest
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Brazil Cuts 0.5% in Key Interest Rate. 'Too Little,' Say Workers and Employers.
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After Another Cut Brazil Still Has Interests 3% Higher than Any Country
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Brazil Cuts Interest Rates for 14th Time in a Row, to 12.75%
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Brazil's Record Low Key Interest Rates Are Still the Planet's Highest
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Key Interest Rate Cut in Brazil Leads to Higher GDP Forecast
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Brazil Puts a Brake on Interest Cuts. Key Rate Left at High 11.25%
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São Paulo Governor Pans Brazil's Key Interest Rate Hike
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Fearing Inflation Brazil Gets Ready to Hike Interest Rates
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Brazil Raises Key Rate by 0.5% to 12.25% to Curb Inflation
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Brazil's Lula Summons His Cabinet for Summit on Inflation Blues
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Inflation Fear Leads Brazil Central Bank to Raise Interest Rates by Steep 0.75%
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Brazil Puts the Brake on Growth to Avoid Inflation
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Don't Expect Lower Interest Rates, Warns Brazil's Finance Minister
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Low Inflation Seems to Have Days Counted in Brazil
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It's 13.75%: For Fourth Time in a Row Brazil Raises Key Interest Rate
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Brazil Leaves Key Interest Rate Alone at a Steep 13.75%
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Bet on Weak Dollar Brings Brazil Firms Billion-Dollar Losses
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Brazil's Assurance: We're Not Bankrupt, We're Part of Solution
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Deteriorating Economy Leads Brazil to Cut Interest Rates by 1%
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Brazil Cuts Key Interest Rate by 1%. Workers Wanted 2 %
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Brazil Has Never Seen Its Key Interest Rate So Low: 10.25%
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Brazil to Tax Savings Accounts Amid Talks of 1% Shrinking of the GDP
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Brazil Is Not Afraid of Inflation and Plans to Further Cut Interest Rates
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Brazil Cuts Interest Rates to Record Low 8.75%
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Finance Minister Foresees 4% Growth for Brazil in Coming 12 Months
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Finance War: Brazil Wants Banks to Lend More and Charge Less
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Brazil Keeps Interest Rates at Low 8.75% Amid Signs of Recovery
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Brazil Keeps Key Interest Rate at Record Low 8.75%
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The Latest from Brazzil Magazine |
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Hopes of Lower Interest Help Brazilian Stocks |
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Written by Paul Davee
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Wednesday, 30 November 2005 |
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Latin American stocks advanced, with Brazilian shares gaining on hopes that weaker-than-expected economic growth data will prompt the central bank to cut interest rates more aggressively.
Meanwhile, Argentine shares rebounded from a two-day sell-off on news the country's Economy Minister was replaced. Brazil's Bovespa Index jumped 265.21 points, or 0.84%. Mexico's benchmark Bolsa Index gained 136.01 points, or 0.81%, while Argentina's Merval Index rose 21.20 points, or 1.38%. Brazilian stocks climbed after weaker-than-expected economic growth data boosted expectations the central bank will be more aggressive in cutting interest rates at upcoming monetary policy meetings. The Brazilian census bureau, or IBGE, said gross domestic product rose 1% in the third quarter from a year ago. The most recent result showed a slowdown in growth from the second-quarter's revised 4% rise and came in beneath analyst estimates. Also, the economy contracted 1.2% in the third quarter from the second quarter. In response to the sluggish growth data, economists in Brazil reduced their full-year economic growth forecasts, saying the economy remains weak in the fourth quarter due to the continued impact of lofty interest rates. Growth estimates were reduced to between 2% and 3% from previous forecasts of about 3%. On the political front, Brazil's supreme court ruled in favor of allowing the country's lower house to hold a vote tonight on the removal of Workers' Party legislator and former Presidential Chief-of-Staff, Jose Dirceu, from his seat in congress. In corporate news, state-run oil firm Petrobras denied press reports that it was planning construction of a refinery in Africa that could cost more than US$ 2 billion. Elsewhere, Mexican shares gained ground, as investors digested a mixed batch of U.S. economic news. The Federal Reserve said in its latest Beige Book of current economic conditions that the U.S. economy continues to expand, but at remarkably different rates across the country. Meanwhile, the Chicago PMI slowed in November from the prior month, while the third-quarter GDP reading was upwardly revised to show 4.3% growth. Mexico 's economic health is tied closely to that of the U.S. since Mexico sends nearly 90% of its exports north of the border. Closer to home, the National Statistics Institute, or Inegi, said today that Mexico's mining production surged in September, with silver, gold and copper production all posting robust gains. Among individual shares, Cintra dropped following news that the airline holding company sold only one of its two main airlines in a privatization tender. Carrier Mexicana was sold to hotel operator Grupo Posadas for US$ 165.5 million plus debt and other financial obligations, setting the value of the carrier at US$ 1.46 billion. However, AeroMexico was not sold as the bid for the carrier was too low. Cintra said it still hopes to sell Aeromexico at a later date. Argentine issues jumped, as investors went in search of bargains following a recent sell-off on news earlier this week that that Economy Minister Roberto Lavagna has been replaced by Felisa Miceli, currently president of state-owned Banco de La Nacion. A number of investors are concerned over whether she has enough experience to contain inflation. In economic news, the national statistics agency INDEC said today that Argentina's trade surplus came in at US$ 916 million in October, wider than the year-ago surplus of US$ 854 million. The result was helped by strong export figures. Thomson Financial Corporate Group - www.thomsonfinancial.com
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