AGL 37.91 Decreased By ▼ -0.11 (-0.29%)
AIRLINK 215.50 Increased By ▲ 18.14 (9.19%)
BOP 9.80 Increased By ▲ 0.26 (2.73%)
CNERGY 6.83 Increased By ▲ 0.92 (15.57%)
DCL 9.18 Increased By ▲ 0.36 (4.08%)
DFML 39.00 Increased By ▲ 3.26 (9.12%)
DGKC 100.80 Increased By ▲ 3.94 (4.07%)
FCCL 36.50 Increased By ▲ 1.25 (3.55%)
FFBL 88.94 Increased By ▲ 6.64 (8.07%)
FFL 14.49 Increased By ▲ 1.32 (10.02%)
HUBC 134.52 Increased By ▲ 6.97 (5.46%)
HUMNL 13.65 Increased By ▲ 0.15 (1.11%)
KEL 5.69 Increased By ▲ 0.37 (6.95%)
KOSM 7.39 Increased By ▲ 0.39 (5.57%)
MLCF 46.00 Increased By ▲ 1.30 (2.91%)
NBP 61.20 Decreased By ▼ -0.22 (-0.36%)
OGDC 233.25 Increased By ▲ 18.58 (8.66%)
PAEL 40.75 Increased By ▲ 1.96 (5.05%)
PIBTL 8.57 Increased By ▲ 0.32 (3.88%)
PPL 203.15 Increased By ▲ 10.07 (5.22%)
PRL 41.15 Increased By ▲ 2.49 (6.44%)
PTC 28.38 Increased By ▲ 2.58 (10%)
SEARL 108.40 Increased By ▲ 4.80 (4.63%)
TELE 8.75 Increased By ▲ 0.45 (5.42%)
TOMCL 36.00 Increased By ▲ 1.00 (2.86%)
TPLP 13.80 Increased By ▲ 0.50 (3.76%)
TREET 24.38 Increased By ▲ 2.22 (10.02%)
TRG 61.15 Increased By ▲ 5.56 (10%)
UNITY 34.47 Increased By ▲ 1.50 (4.55%)
WTL 1.74 Increased By ▲ 0.14 (8.75%)
BR100 12,244 Increased By 517.6 (4.41%)
BR30 38,419 Increased By 2042.6 (5.62%)
KSE100 113,924 Increased By 4411.3 (4.03%)
KSE30 36,044 Increased By 1530.5 (4.43%)

imageMEXICO CITY: Brazilian and Mexican stocks rose on Thursday after a US Federal Reserve official said investors may have over-reacted recently to the possibility of the central bank winding down its stimulus, which has fueled investors' appetite for risky assets.

When asked in Boston whether anxiety that the Fed might dial down stimulus was overblown, Philadelphia Fed President Charles Plosser responded "maybe yes."

"Since I don't know what the outcome is going to be, the markets seem to take this very seriously at some level which I think is probably a mistake," said Plosser, a long-time critic of the quantitative easing program.

Stocks in Mexico, whose economy is deeply intertwined with the United States, rose 0.88 percent to 40,579, its first gain in four sessions, a day before the release on the key US unemployment figures.

"The market is trying ... to anticipate tomorrow. It's a true roller coaster. They don't know what position to take. Total uncertainty," said Jorge Gordillo, deputy director of analysis at CI Banco in Mexico City.

Gordillo added that Plosser's comments had boosted the IPC index on Thursday.

Brazil's Bovespa rose 0.16 percent to close at 52,884, despite the release of central bank minutes noting that annual inflation remains on an upward trend and its outlook is "unfavorable."

Earlier in the session, the Bovespa fell to levels not seen since July 2012, as the minutes plus a recent government decision to remove a financial transaction tax on fixed income investments drove investors away from equities into bonds.

Chile's bourse fell 0.57 percent at 4,168 points, dragged down by shares of airline Latam. The company's shareholders will meet on June 11 to discuss plans to raise one billion dollars in capital to boost finances. -Reuters

Comments

Comments are closed.