Seeking Alpha
Profile|
( followers)  

Latin American markest were in line with bourses around the world on Friday, showing strong gains with Merval (+5.9%), Bovespa (+7.17%), the Mexican IPC (+3.89%) and Chile's IPSA (+2.53%). On top of the rally among Latin American ADRs were the Argentine energy companies MetroGAS (MGS) (+37,91%), Edenor (NYSE:EDN) (+21.0%) and Petrobras Energia (NYSE:PZE) (+16.09%). Two other Argentine companies came in next among the top gainers, with Telecom Argentina (NYSE:TEO) (+14.47%) and Banco Macro (NYSE:BMA) (+12.38%). They were followed by Mexican radio broadcasting company Grupo Radio Centro (RC) (+11.56%) and Brazilian wireless service provider TIM Participacoes (NYSE:TSU) (+10.49%).

Overall the market for Latin American ADRs showed a very strong gain, with only 6 ending the day lower, against 75 ADRs showing a gain. 37 Latin American ADRs were unchanged due to no trading activity.

Chilean companies were overrepresented among the 6 ADRs which were down on Friday. These were LLX Logistica (LLXLY.PK) (-6.67%), Viña Concha y Toro (NYSE:VCO) (-2.43%), Banco de Chile (NYSE:BCH) (-1.37%), Embotelladora Andina (NYSE:AKO.A) (-0.96%), YPF (-0.22%) and Grupo Carso (OTCPK:GPOVY) (-0.17%).

Source: Latin American ADRs Show Strong Gains