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Latin America Exchanges: Colombia Stocks Lead

Colombia leads Latin American stocks in growth the past decade and last year, but Brazil remains the volume champion.

Colombia’s benchmark IGBC stock index grew by 927.9 percent the past decade. That was more than any other Latin American stock index and compares with a 9.3 percent decline in the Dow Jones Index in the same period, according to Economatica.

Colombia’s stock transactions also were the best performer in Latin America last year, according to a separate analysis from Economatica. The average value of transactions in Colombia fell by 2.3 percent in 2008, which was lower than all other countries in the region and compares with the total Latin America decline of a 13.5 percent.

Brazil’s Ibovespa index, which has been among the global leaders in recent years, grew by 301.3 percent in the ten year period.

Last year, Brazil’s exchanges posted an average of $2.4 billion in stock transactions, a decline of 13.6 percent compared with 2008, according to Economatica.

Brazilian companies — led by oil giant Petrobras, mining giant Vale and banking giant ItauUnibanco – dominated stock transactions in Latin America last year. Nine of the ten most traded stocks were from Brazilian companies. The other one was from Mexico-based America Movil, Latin America’s largest wireless operator.

Mexico’s IPC index grew by 350.5 percent in the ten year period. Last year, Mexico’s stock transactions averaged $440.1 million, a 13.9 percent decline.

The Caracas Stock Index (IBC) grew by 916.5 percent in the ten year period, but last year stocks traded in Venezuela saw their average daily value drop by 29.5 percent. That was the second-worst result in Latin America.

The worst performer last year was Argentina, where the value of average daily transactions fell by 54.5 percent. During the previous decade, the country’s Merval index increased 321.3 percent.
The Lima Stock Index (IGBVL) was among the leading growth winners in the past decade, with an increase of 671.8 percent. Last year, the average value of Peruvian stocks fell by 21 percent.
Chile’s IPSA index grew by 218.8 percent in the past decade. Last year, Chile’s daily average stock transactions fell by 3.6 percent, which was the second-best performance in Latin America, according to Economatica data.

Source: Latin Business Cronicle, 07.01.2010

The study took into account currency fluctuations in the main Latin American markets between December 31, 1999 and December 31, 2009, Efe reported.

The stock exchange with the greater profitability in the decade was Colombia’s, with a 927.9 percent increase, followed by Venezuela (916.5 percent), Peru (671.8 percent), Mexico (350.5 percent), Argentina (321.6 percent), Brazil (301.3 percent) and Chile (218.8 percent).

Source: El Universal, 07.01.2010

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Filed under: Argentina, BM&FBOVESPA, BMV - Mexico, Brazil, Chile, Colombia, Exchanges, Latin America, Mexico, News, Peru, Venezuela, , , , , , , , , , , , , ,

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