Pan Kwan Yuk – The Financial Times (blog), 07/17/2012
For all of you out there who can’t get enough of the Mexico versus Brazil debate, here’s something else to chew over: the diverging fortunes of the countries’ two stock markets.
Mexico’s benchmark IPC index on Tuesday hit a record high for the third consecutive session while Brazil’s Bovespa continues to languish, having dropped 27 per cent since mid-March.
To be fair, the drop suffered by the Bovespa is less pronounced (minus 5 per cent) if you take the year-to-date perspective. But the trend is unmistakable. With the IPC up 11 per cent since the start of the year, Mexico’s star is on the rise.
[...] multitude of downward revisions for projected annual growth. Notwithstanding the flagging currency, nose-diving stock market and the decline of the nation’s ETF (exchange-traded fund), Brazil’s population still seems [...]