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Monday, 24 August, the stock markets in Latin America have demonstrated mixed dynamics with a predominance of negative component. Upward trend in the Brazilian market was due to the strengthening of the prices of Commodities, as well as the improvement of forecasts for GDP growth next year. Thus, it is expected that Brazil's GDP will grow in 2010 by 4% compared with 3.8% growth rate, forecast the central bank a week earlier.
Mexican stocks retreated into the background of statements by regulators that the pension funds in the future are not required to purchase securities of companies that are not actively traded on the stock markets.
Following the session, the key index of Brazil Bovespa has increased by 0,08% to 57 775.37 points, to close, thus, to a maximum of 31 July 2008 level. The Mexican Bolsa sank 1.08%, and Chilean Ipsa fell by 0,65%.
By raising the price of copper quotes the world's largest iron ore producer Vale strengthened by 1,2%.
Shares of the Brazilian insurance company Porto Seguro became heavier at 9.4% after the largest Brazilian bank Itau Unibanco Holding announced that it has reached an agreement concerning the consolidation of departments of insurance of houses and cars. Paper Itau, in turn, grew by 0,8%.
Awkwardly formed session for the oil company Petroleo Brasileiro, whose quotes have left in a minus on 0,7%. Third-largest in the UK natural gas producer BG Group was unable to detect hydrocarbons in the field Corcovado-2, partially owned Petroleo Brasileiro.
Analysts said Citigroup, the world's largest sugar cane processor Cosan SA Industria Comercio may report profit growth in the next two years, which is due to higher sugar prices. As a result, the paper Cosan SA Industria Comercio went up by 3,4%.
Shares of the Mexican electronics retailer Grupo Elektra fallen by 15%, which was the highest since September 1998 decline, after the regulators have provided more freedom of pension funds, as mentioned above.
Quotes of the Mexican holding company Carso Global Telecom fell by 3.83%, and the paper Inbursa fell 4,37%.
| Index | Country | Closing | Change (items) | Change (%) | value at beginning of year (the last closing in 2008) | Change YTD |
|---|---|---|---|---|---|---|
| MerVal | Argentina | 1,780.93 | -16.4 | -0.91% | 1079.66 | 64.95% |
| Bovespa | Brazil | 57,775.37 | 46.78 | 0.08% | 37550.31 | 53.86% |
| IBC | Venezuela | 48,305.34 | 312.44 | 0.65% | 34927.66 | 38.30% |
| IGBC | Colombia | 10,766.28 | 149.88 | 1.41% | 7560.68 | 42.40% |
| Bolsa | Mexico | 28,004.27 | -304.69 | -1.08% | 22380.32 | 25.13% |
| IGBVL | Peru | 14,274.90 | -87.23 | -0.61% | 7048.67 | 102.52% |
| IGPA | Chile | 15,383.60 | -79.96 | -0.52% | 11324.07 | 35.85% |
| IPSA | Chile | 3,244.20 | -21.36 | -0.65% | 2376.42 | 36.52% |
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