Latin America Financial Markets Summary-Aug. 21
Futures World News - August 21, 2000 18:50
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Aug. 21-MAR--
[B] Latin America Financial Markets Summary-Aug. 21
ARGENTINA:
--STOCKS: Closed (Closing data .1331)
Stock chart: Media://Analytics/Pages:Merval:/cmd=AR;MER[1099ID;60;20]/NVO
--INTEREST RATE: Closed
Glimpse tomorrow today: .4340
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BRAZIL
--STOCKS: Brazil's Sao Paulo Bovespa stock index fell 230 points, or
1.33%, to 17,083 on a wave of profit taking in high volume. Holders of
long- and short-positions fought the index to a standstill over strike
prices of blue chips until the mid-afternoon closeout of options
contracts. After the closeout, institutional investors took profits from a
run up in prices last week.
(Closing data .1332)
Stock chart:
Media://Analytics/Pages:Bovespa:/cmd=BR;IBOV[1099ID;60;20]/NVO
--INTEREST RATES: September interest rate futures closed virtually
unchanged at 16.06% Monday from Friday's 16.07%. The central bank monetary
committee (COPOM) will meet to review the base rate Wednesday. Traders
said volume was extremely light. COPOM is expected to leave the rate
unchanged or order a symbolic cut of 25 basis points.
--REAL: The Brazilian real slipped Monday on modest net U.S. dollar
outflows and continued worries about fiscal problems in neighboring
Argentina. Traders said investors often lump Latin American countries
together. The market is also jittery because of upcoming decisions on U.S.
and Brazilian interest rates. The
real closed at 1.822 per dollar from 1.819 Friday.
Real chart: Media://Analytics/Pages:Real:/cmd=XA@?BRL/CH
Glimpse tomorrow today: .4341
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CHILE
--STOCKS: Santiago--Aug. 21--Chile's IPSA select stock index slipped 0.32%
to close at 99.82 Monday, largely as investors sold stakes in Chilquinta
holding company, Telefonica CTC Chile telecom and other utility stocks for
profits, traders said. Trading was quiet as many investors were out of the
market, waiting to see if the U.S. Fed makes or hints Tuesday at a move in
U.S.
interest rates. (Closing data .1333)
Stock chart: Media://Analytics/Pages:IPSA:/cmd=CL;IPS[1099ID;60;20]/NVO
--PESO: Chile's peso strengthened to 547.70 per U.S. dollar from Friday's
close of 549.30, as a few banks closed long dollar positions taken out
ahead of Tuesday's Federal Reserve Tuesday meeting, traders said, adding
that very little corporate activity was reported. The unit weakened in
early trading to 552.10 but quickly strengthened to test resistance at
547.60.
media://Analytics/Pages:Peso:/cmd=XA@?CLP/CH
Additional data: .395
Glimpse tomorrow today: .4337
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COLOMBIA
--STOCKS: Closed (Closing data .1334)
Stock chart: Media://Analytics/Pages:IBB:/cmd=CO;IBB[1350MOV3]/NVO
--PESO: Closed
Media://Analytics/Pages:Peso:/cmd=XA@?COPTQ/CH
Glimpse tomorrow today: .4308
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MEXICO
--STOCKS: Mexican shares closed down Monday, after global
telecommunications jitters hit Mexico's weightiest stock, Telefonos de
Mexico (Telmex), traders said. The main IPC index closed down 41.53
points, or 0.65%, to 6345.13.
(Closing data .1335)
Stock chart: Media://Analytics/Pages:IPC:/cmd=MX;IPC[1099ID;30;9]
--INTEREST RATES: Overnight rates fell Monday on speculative play by banks
amid a lack of market-moving news, traders said. The overnight government
rate closed at 15.05% compared with Friday's close of 16.50%, according to
traders. A stronger peso, whose dive on Friday helped spur rates higher,
also helped lower rates.
--PESO: The peso strengthened in light trade Monday, with investors
selling dollars they had accumulated Friday to hedge against weekend
uncertainty, traders said. The peso closed at a 48-hour interbank spot
rate of 9.2550-9.2650 per dollar versus Friday's close of 9.2900-9.3100.
Media://Analytics/Pages:Peso:/cmd=XA@?MXN/CH
Additional data: .897, .916, .4487, .4488
Glimpse tomorrow today: .4344
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More to follow...
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