September 13, 2012 / 3:16 PM / 5 years ago

EMERGING MARKETS-Latam stocks choppy ahead of Fed decision

* Fed to release policy statement at 1630 GMT
    * Investors book profits on Bovespa after recent gains
    * Brazil Bovespa flat, Mexico IPC down 0.17 pct

    By Asher Levine
    SAO PAULO, Sept 13 (Reuters) - Latin American stocks were
flat to slightly lower on Thursday as investors awaited a
decision from the U.S. Federal Reserve later in the day that
could point to further monetary easing.
    The MSCI Latin American stock index snapped
a six-day rally, slipping 0.22 percent to 3,665.78.
    Investors remained cautious ahead of the Fed's policy
statement due at 16:30 GMT, in which a third round of
quantitative easing could be announced to spark growth in the
world's largest economy. 
    The looming decision led some investors in Brazil's
benchmark Bovespa exchange to book profits following a
five-day rally in which the index rose 6.56 percent. 
    "People are saying 'Great, I've made money this week, let's
take some off the table and wait for the Fed,'" said Hamilton
Alves, a senior analyst with BB Investimentos in Sao Paulo.
    The Bovespa was unchanged at 59,922 points, with losses by
miner Vale offsetting gains by homebuilder PDG Realty
 and state-led oil company Petrobras.
    Shares of Brazilian logistics company LLX plunged
more than 10 percent, a day after controlling shareholder Eike
Batista canceled plans to buy back LLX shares and delist the
company. 
     An index of electricity companies rose 0.54 percent
after falling 8.2 percent on Wednesday over concerns that recent
government measures to reduce electricity rates could 
overstretch a sector facing stubborn costs. 
    "It's just a simple rebound," Alves said. "If QE3 isn't
announced they'll all fall again."
    Mexico's IPC index slipped its most in over a week,
falling 0.17 percent to 40,181.26.
    Telecommunications firm America Movil, controlled
by billionaire Carlos Slim, lost 0.42 percent, contributing most
to the index's losses, while retail giant Wal-Mart de Mexico
 added 0.3 percent.
    Chile's IPSA index dropped for the second straight
session, losing 0.25 percent to 4,162.37. 
    Retailer Falabella edged 0.47 percent lower, while
Banco de Chile fell 0.59 percent.
    
    Latin America's key stock indexes at 1425 GMT:
 Stock indexes                           daily %   yearly %
                          Latest          change     change
 MSCI LatAm                  3,665.78      -0.22       1.99
                                                  
 Brazil Bovespa             59,922.02          0       5.58
                                                  
 Mexico IPC                 40,181.26      -0.17       8.37
                                                  
 Chile IPSA                  4,162.37      -0.25      -0.36
                                                  
 Chile IGPA                 20,254.69       -0.2       0.62
                                                  
 Argentina MerVal            2,450.46       0.58      -0.49
                                                  
 Colombia IGBC              14,160.15       0.03      11.80
                                                  
 Peru IGRA                  20,980.00      -0.08       7.74
                                                  
 Venezuela IBC             297,072.50          0     153.83

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below