Latin America resists global stockmarket falls

Despite the region’s economic problems the Latin American markets have outperformed the developed ones since the onset of the Iraq crisis in November 2002.

Fernando Luque 13 March, 2003 | 4:31PM
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A Middle Eastern conflict might be expected to hit Latin America particularly hard because of its fragile economy. But since the approval of United Nations resolution 1441 on November 8th the MSCI Emerging Markets Free index has fallen by 7.9% compared with a drop of 11.2% in the MSCI World (all figures in dollar terms to March 12th). Over the same period the MSCI Latin America Index fell by only 0.9%.

A similar pattern is apparent if performance is measured from the start of the year. Latin America has fallen by 5.6% compared with a fall of 10.3% for the developed markets. Venezuela was the worst performing Latin market with a fall of 16.9%, followed by Mexico which dropped by 9.2% and Brazil which fell 4.2%. Argentina, in contrast, gained 15.8%.

Latin America’s relative

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About Author

Fernando Luque

Fernando Luque  is Senior Financial Editor at Morningstar Spain 

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