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EMERGING MARKETS-Brazil stocks edge down a day after strong gains
2013年8月23日 / 下午3点14分 / 4 年前

EMERGING MARKETS-Brazil stocks edge down a day after strong gains

* Bovespa dips as lenders contain Vale, steel makers loss
    * Femsa's acquisition of Brazil bottler sends shares down
    * Brazil Bovespa down 0.14 pct, Mexico IPC down 0.6 pct

    By Lucas Iberico-Lozada
    SAO PAULO, Aug 23 (Reuters) - Brazilian stocks edged down on
Friday, a day after the country's benchmark Bovespa index made
its strongest daily gains in two weeks. 
    Mexico's IPC index also edged down, while Chile's
bourse snapped a seven-session slump.
    Late on Thursday, the Brazilian central bank announced a
currency-intervention plan that will provide $60 billion worth
of cash and insurance to the foreign exchange market by year
end. Investors seemed to be taking time to weigh the measure's
effect on stocks. 
    "There's a certain stagnation in the market today," said
Aloisio Villeth Lemos, an analyst at Agora Corretora in Sao
Paulo. "This is a relatively calm market movement, particularly
considering the recent market highs and the central bank
announcement."
    The Bovespa fell 0.14 percent to 51,326.08.
    Among stocks falling in Sao Paulo were shares of Gerdau SA
, the Americas' largest producer of long steel, which
dipped 1.4 percent.
    Gerdau has benefited from the Brazilian real's recent
depreciation, as about 60 percent of its costs are denominated
in reais, while more than two-fifths of its revenue comes in
dollars and other foreign currencies, Leonardo Correa, an
analyst with HSBC Securities, said in a report.
    Shares of mining giant Vale SA, the world's
largest iron-ore miner, fell 0.8 percent as investors moved to
lock in gains of over 4 percent from the previous session.
    Lenders partially contained the index's losses, as Itaú
Unibanco Holding SA, Brazil's largest non-government
bank, and Banco Bradesco SA gained 1.5 and 0.9
percent, respectively. 
    Mexico's IPC index fell 0.6 percent to 40,763.06, led
by losses for bottler Femsa, whose shares fell 0.9
percent.
    Coca-Cola Femsa, a joint venture between Coca-Cola
Co and Femsa, announced an all-cash purchase of Brazilian
Coke bottler Companhia Fluminense de Refrigerantes on Thursday.
 
    Often, mergers and acquisitions lead to declines in stock
price, on concerns of potential debt expenses that may be
incurred in a takeover.
    Chile's IPSA index snapped a seven-session slump as
the index added 0.31 percent to 3,627.28.
    Shares of LATAM Airlines Group and lender Banco
Santander Chile gained 1.5 and 0.7 percent,
respectively.
    
    Latin America's key stock indexes at 1449 GMT:
 Stock indexes                                daily %    YTD %
                         Latest                change   change
 MSCI LatAm                      3,115.41        1.82   -19.44
                                                       
 Brazil Bovespa                 51,326.08       -0.14   -15.79
                                                       
 Mexico IPC                     40,763.06        -0.6    -6.73
                                                       
 Chile IPSA                      3,627.28        0.31   -15.67
                                                       
 Chile IGPA                     18,023.01        0.27   -14.46
                                                       
 Argentina MerVal                3,987.89        1.12    39.72
                                                       
 Colombia IGBC                  13,639.95       -0.21    -7.31
                                                       
 Peru IGRA                      16,626.88        0.18   -19.40
                                                       
 Venezuela IBC               1,274,887.34           0   170.43

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