(Agencia CMA Latam) - Stock markets in South America ended on a positive note, despite thin trading volumes because of a holiday in the United States. Brazilian markets were the exception and ended virtually unchanged, with investors adopting a cautious stance amid political uncertainty.
ARGENTINA
Merval Index rose 0.75%, closing at 22,385.79 points, driven by an increase in gas and oil companies' shares, in a day in which the Buenos Aires Stock Exchange lacked American Depositary Receipt's (ADRs) guidance due to the Independence Day holiday in the United States.
According to Eduardo Fern?ndez, an analyst at Rava Burs?til, trading volumes were low because Wall Street remained closed and foreign investors took a break from trades.
Locally traded US dollar rose by 1.98%, at 16.93 Argentinean pesos, amid thin trading volume. There was high demand for dollars by banks, companies, and investors for hedge operations.
BRAZIL
Ibovespa ended the session virtually unchanged, at 63,231.59 points (-0.08%), with trading volume at R$ 2.5 billion - less than half of the average in recent months. The holiday in the US market kept foreign investors distant and the attention in the local political crisis in Brazil.
Ari Santos, chief operating officer at H. Commcor, said that the political scenario became uncertain after former minister Geddel Vieira de Lima was arrested.
Locally traded US dollar rose 0.12%, closing at R$ 3.3100. For tomorrow, Rog?rio Freitas, an analyst at Te?rica Investimentos, believes that the end of the holiday in the US may bring downward pressure on Ibovespa. In Santos' view, missile tests by North Korea that have pressed European stocks today could affect US markets tomorrow and thus pull Ibovespa down.
COLOMBIA
Colcap, the main index of the Colombian Stock Exchange, rose 0.84%, at 1,475.15 points. Diego Velasquez, an analyst at Valoralta, said that the market reacted to the good performance of oil companies, including Ecopetrol and Canacol, influenced by crude prices abroad.
Locally traded US dollar closed at 3,056.50 Colombian pesos, a 0.44% high, after the central bank's decision to lower its benchmark interest rate. Andr?s Fonseca, an analyst at Alianza Valores, said that the lower rates announced by the central bank had a direct impact on the behavior of the US currency today.
by Agencia CMA Latam
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