COLOMBIA: Colcap Falls 0.46% As Geopolitical Tensions Hurt Stock Markets

Colcap, the main index of the Colombian Stock Exchange, fell 0.46% Thursday, closing at 1,463.54 points, tracking the downward trend in emerging markets. Camilo Silva, an analyst at Valora Inversiones, said Colcap’s behavior was in line with that seen throughout emerging markets and in the United States amid growing political tension between Washington and Pyongyang. ...

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ARGENTINA: Merval Rises 1.11% Amid Lowering Support For Cristina Kirchner

Merval, the benchmark stock market index Argentina, rose 1.11% Thursday, closing at 21,158.35 points, reversing its bearish trend after opinion polls suggested a technical tie in the primary legislative elections in the Province of Buenos Aires, where former President Cristina Kirchner will run for a seat in Congress. “We can ...

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PETROBRAS: Profit Falls 14.6% In The 2Q17 And Misses Estimates

Petrobras’ net profit in the second quarter decreased by 14.6% from a year earlier, to R$ 316 million, the company said Thursday. The result was way below the R$ 2.906 billion net income expected by analysts, according to a survey from Agencia CMA. The lower results were partially impacted by ...

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Singapore GDP Adds 2.2% In Q2

Singapore’s gross domestic product expanded 2.2 percent on quarter in the second three months of 2017, the Ministry of Trade and Industry said on Friday. That follows the downwardly revised 2.1 percent contraction in the three months prior (originally -1.3 percent). On a yearly basis, GDP climbed 2.9 percent, up ...

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BRAZIL: Ibovespa Falls With Fiscal Target And Geopolitical Tension

Ibovespa, the benchmark stock index in Brazil, closed down 1% at 66,992.09 points Thursday, reflecting investors’ fears that the government might miss its fiscal targets for 2017 and 2018 and amid mutual threats between the United States and North Korea. According to Pedro Galdi, an analyst at Magliano Corretora, Brazil’s ...

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New Zealand Manufacturing PMI On Tap For Friday

New Zealand will on Friday see July results for the Performance of Manufacturing Index from Business NZ, highlighting a modest day for Asia-Pacific economic activity. In June, the index had a score of 56.2. New Zealand also will see July figures for food prices; in June, prices were up 0.2 ...

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GRUPO TELECOM: Net Income Rose 109.5% In 1H17, To $ 3,639 Million

Argentina’s Grupo Telecom net profit more than doubled in the second quarter compared to a year before, to 1.673 billion pesos (US$ 94 million), with results boosted by higher revenues and lower operating costs. The second-quarter revenue rose 22.2% from a year earlier, to 15.841 billion pesos, while operating expenses ...

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ECOPETROL: Government Expects US$ 1.3 Billion In Profits By Year’s End

Colombia’s Finance Minister Mauricio C?rdenas said that the government’s goal reported to Ecopetrol’s board of directors is to reach 4 billion Colombian pesos (US$ 1.3 billion) in profits by the end of the year. “This result would allow significant dividends to be distributed next year, which is important for the ...

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Dollar Trading Mixed On Weak Economic Data

The dollar is turning in a mixed performance against its major rivals Thursday afternoon. Investors have continued to flock to safe havens, like gold and the Japanese Yen, in the wake of the rising tensions between North Korea and the United States. The buck is down against the Yen this ...

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