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Latin American markets are trading without a clear trend on Thursday.

Ignacio Teson•Thursday, February 15, 2024•2 min read

Latin American markets are trading without a clear trend on Thursday

Latin American markets are showing mixed returns, and there is no clear trend. There is anticipation regarding new data in the region.

LATAM markets and indices are operating with mixed returns today.

On a day without a clear trend, the indices and markets of Latin America show no significant changes. Variations range between 0.2% and 0.3% for Argentina, Brazil, Mexico, and Colombia.

The currencies of these countries also show little variation on Thursday.

Argentina’s MERVAL index remains flat, while EWZ, the most representative ETF of the Brazilian market, shows a price increase of 0.3%, similar to GXG (Colombia) and EWW (Mexico).

Among Latin American stocks, Petrobras stands out with a 1.7% increase, Banco BBVA in Argentina with a rise of 2.2%, and Central Puerto with a decrease of 2.1%.

This occurs in a context where the growth of Latin American economies is increasingly lower, with the exception of Mexico. This week, it was revealed that the average growth in the region was below expectations.

In short, during 2023, the economies of Latin America experienced growth but was increasingly weaker.

The Gross Domestic Product (GDP) growth rate of the region increased by 2.1%, according to projections from the latest report by the Economic Commission for Latin America and the Caribbean (ECLAC).

That figure represents a decrease compared to the results of 2022 but is higher than the projected growth for 2024, which is expected to be 1.8%.

According to Cepal, the region is on a path of deceleration, partly reflecting the “low dynamism of economic growth and global trade,” which limits the region’s momentum from the world economy.

For 2024, it is forecasted that Central America and Mexico will grow by 2.7%, while South America will achieve a 1.4% increase in GDP. The worst figures were recorded by Argentina, which decreased by 2.5%, and Haiti, which contracted by 1.8%. Following them are countries that achieved positive but meager growth figures, such as Chile (0.1%), Peru (0.3%), and Colombia (0.9%).

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ABOUT THE AUTHOR See More
Ignacio Teson
Economist and Financial Analyst
Ignacio Teson is an Economist and Financial Analyst. He has more than 7 years of experience in emerging markets. He worked as an analyst and market operator at brokerage firms in Argentina and Spain.
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