Category: Equity

Carso Infraestructura y Construcción (Cicsa), one of Mexican magnate Carlos Slim’s companies, is to float around 25% of the company’s capital on the Mexican Stock Exchange before the end of October. The company hopes to raise up to $400 million through the IPO of 620 million shares. Slim’s companies now comprise over 43% of Mexico’s principal stock index, the IPC. The tycoon’s companies cover a range of industries and include telephone carrier Telmex, cell phone operator América Móvil, conglomerate Grupo Carso and most recently listed infrastructure company IDEAL.

Spain’s Santander Central Hispano (SCH) has listed on the Mexican market, in a bid to diversify its shareholder base. SCH’s shares were listed on the Mexican Stock Exchange on Wednesday at 140 pesos a share and closed the day at 139.37 pesos with 420,000 shares traded. Santander’s shares are currently listed on the exchanges in London, New York, Madrid, Milan, Lisbon and Buenos Aires.

Chilean industrial conglomerate Sigdo Koppers is to float on the Chilean Stock Exchange on 19 October, the company announced. The IPO for 25% of the company’s stock aims to raise around $280 million to help planned investments of around $560 million over the next five years.

Mexico’s Stock Exchange BMV has announced that from Thursday it will be offering investors a new instrument, linked to the price of Brent oil in London. The latest securities to be listed on the Mexican market will allow investors to buy into the oil market without taking physical delivery of the commodity.

Shares of Ideal an infrastructure development company created by Carlos Slim, the Mexican tycoon, rose 14% to 6.59 pesos in the first day of trading. Ideal will invest in roads, ports, water and energy projects as well as public-private partnerships in education and health in Latin America. Ideal has a portfolio of $1.11 billion in Mexican infrastructure assets

Brazil’s annual inflation rate dropped to 6.02 percent in the 12 months through August, according to the government´s benchmark IPCA consumer price index. The index was 6.57 percent in July and reached a 16-month high of 8.07 percent in April. Central bankers have left their benchmark interest rate at 19.75 percent for the past three months after nine increases in nine months.

Brazilian financial assets fell significantly as media speculation increased over the involvement of President Luiz Inacio Lula da Silva’s in an unfolding corruption scandal. Stock prices fell 3.3% and the real lost 3.5% against the US dollar. Until now, the political funding scandal had not affected Lula’s popularity or hurt financial markets.

Colombia’s Stock Exchange Index rose a record, led by Bavaria, South America’s second-biggest brewer, on speculation SABMiller may announce a takeover of the company. Colombia’s IGBC index rose 168.72, or 2.9 percent, to 5,953.94, the highest since the nation’s three exchanges were unified in July 2001. Colombia’s foreign direct investment rose by a third in the first quarter to $822 million from a year earlier, its highest level in three years, as the country’s improved security and expanding economy helped boost investor confidence

Brazil’s Bovespa stock index rose 3.4 percent Tuesday after Roberto Jefferson, a Labor Party deputy who says President Luiz Inacio Lula da Silva’s government paid bribes for legislative support, said he has no proof for his allegations in testimony to the lower house ethics committee. Jefferson still clams, however, that the ruling Workers’ Party tried to pay legislators for votes.