Brazilian stocks were little
changed on Monday as investors awaited the outcome of an
economic policy-setting meeting in top trade partner China,
while shares of shipbuilder OSX were suspended from trading
until its bankruptcy filing is made official.
Mexico's IPC index snapped a five-session decline,
while Chile's bourse fell slightly.
China's Communist Party leaders gathered over the weekend
for a landmark conclave, due to end on Tuesday, that will set
the economic agenda for the next decade.
China is Brazil's No. 1 trading partner and a top purchaser
of Latin American commodities exports such as iron-ore, soy,
copper and petroleum. Changes in the outlook for the world's
second-largest economy tend to move shares of raw materials
exporters such as Vale SA and state-run oil company
Petroleo Brasileiro SA, known as Petrobras.
"We could see some type of (market) catalyst if something
noteworthy comes out of the statement linked to reforms in the
financial system," said Gustavo Mendonca, an economist with Saga
Capital in Rio de Janeiro.
Mendonca said trading volumes in the Bovespa should be
reduced due to the Veteran's Day holiday in the United States.
Brazil's benchmark Bovespa stock index hovered near
52,295 points, little changed from Friday's close.
Shares of shipbuilder OSX Brasil SA were
suspended from trading on Monday after the company said on
Friday it will file for bankruptcy protection.
While its shareholders approved the bankruptcy protection
request, it has not yet been filed to a Rio de Janeiro court.
Exchange operator BM&F Bovespa halted trading in the shares
pending the official filing, according to a statement Monday.
Latin America's key stock indexes at 1448 GMT:
Stock indexes daily % YTD %
Latest change change
MSCI LatAm 3,254.09 0.74 -14.94
Brazil Bovespa 52,295.79 0.09 -14.20
Mexico IPC 39,932.06 0.17 -8.63
Chile IPSA 3,819.37 -0.48 -11.21
Chile IGPA 18,851.75 -0.4 -10.53
Argentina MerVal 5,323.09 0.54 86.49
Colombia IGBC 13,478.88 -1.78 -8.41
Peru IGRA 15,943.62 0.16 -22.71
Venezuela IBC 2,655,762.22 -0.53 463.33
Source: Reuters
