Chile's blue-chip Ipsa index ended up 0.7% Wednesday, reaching a year high following Chilean pulp and paper products manufacturer Empresas CMPC SA expansion into Brazil, which would position the company among the five leading producers of the world.
Moody's Investors Service raised Brazil's sovereign debt ratings to investment grade on Tuesday and underlined the resilience of Latinamerica's largest economy to the global financial crisis.
Brazilian Cabinet Chief Dilma Rousseff, President Lula da Silva’s likely choice to replace him, fell to third place in a survey of voter preferences ahead of 2010 presidential elections.
Brazilian billionaire Eike Batista said he may be interested in acquiring a stake in the world’s biggest iron-ore producer Vale do Rio Doce, after one of the company’s shareholders said he showed “interest” in buying its stock.
Honduras de facto leader Roberto Micheleti demanded that Brazil hand over deposed constitutional president Manuel Zelaya who is currently in the Brazilian embassy in Tegucigalpa following a dramatic secret return to the country.
Brazil’s government managed oil and gas company Petrobras is the world’s eighth biggest global company in market value, according to a survey carried out by Ernst & Young.
Brazilian president Lula da Silva denied South America had embarked in an arms race and justified purchases by Brazil, Chile, Venezuela and Colombia the four countries at the forefront of military hardware expenditure.
President Lula da Silva predicts that Brazil in the near future will be in the short list of the world’s largest economies, probable in third or fourth position, and if “less lucky” at the most ranked fifth.
Brazilian blue-chip shares closed on Friday at a 14-month high as global investors continue to flock to the country. The benchmark Ibovespa stocks index closed 0.8% higher at 60,703 points, up from Thursday's close at 60,236 points and breaking through the psychologically important 60,500-point mark.
Brazil's JBS, the world's biggest beef producer, agreed this week to buy a controlling take in bankrupt US poultry producer Pilgrim's Pride and JBS' Brazilian beef rival Bertin.