¿Qué esta pasando en el mercado financiero? Análisis

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Ibovespa, the benchmark stock index in Brazil, reversed declines earlier in the day and slightly rose (+0.03%), closing at 76,004.15 points on Wednesday. The Ibovespa was boosted by statements made by the Brazilian Minister of Mines and Energy, Fernando Coelho, in New York, indicating that the government is expected to pay Petrobras US$ 12 billion in a transfer of rights process, prompting Petrobras to rise 4.88%. "This is positive for the company. Petrobras' shares were already rising by more than 1% due to oil prices abroad and skyrocketed after the minister's statements," said Al****o Sequeira, partner at DNAinvest brokerage. According to Jos? Costa, an economist at Codepe Corretora, Petrobras eclipsed the profit-taking that the market went through after the U.S. Federal Reserve Bank announced that it would raise interest rates by the end of the year. Meanwhile, the locally traded U.S. dollar fell 0.19%, closing at $ 3.1310, reducing losses after the U.S. Federal Reserve indicated that it could raise its benchmark interest rate in December and three more times in 2018, showing a tougher tone than in previous board meetings. For Thursday, Sequeira says, the market expects the Brazilian Supreme Court (STF) to authorize the House of Representatives to vote on a new criminal complaint against President Michel Temer, which may give room for profit-taking. In Costa's view, even with a new complaint in the House, there is a perception that Temer's allies would shield him, which, in the end, may reduce the downward pressure on the market.

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Colcap, the main index of the Colombian Stock Exchange, fell 0.60% Wednesday, closing at 1,486.49 points due to the low performance of Bancolombia and Avianca. Andr?s Fonseca, an analyst at Alianza Valores, said that investors maintained their profit-taking in Bancolombia's shares after the bank's sustained gains on the eve of the rebalancing of the FTSE and Hcolsel indexes. Avianca closed the day with 1.19% losses after failing to reach an agreement with the pilots union, leading to a halt in their activity. Hern?n Rinc?n, Avianca's president, said at a press conference that the str**e is costing US$ 2 million per day for the company. During the day, investors also followed the U.S. Federal Reserve Bank's monetary policy decision that kept interest rates within a 1-1.25% range, as expected by the market. The shares of Canacol (+1.31%), Ecopetrol (+0.73%), Banco de Bogot? (+0.32%), ?xito (+0.26%), and Cemargos (+0.17%) rose, while Bancolombia (-2.11%), Preferencial Bancolombia (-1.98%), and Avianca (-1.19%) fell. The locally traded U.S. dollar closed the day at 2,891.15 Colombian pesos, marking a 0.37% fall. Agust?n Vera, an analyst at Global Securities, said that the Japanese yen and the Swiss franc, considered safe-haven assets, gained positions after comments by the U.S. President Donald Trump at the United Nations General Assembly.

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New Zealand's gross domestic product was up 0.8 percent on quarter in the second three months of 2017, Statistics New Zealand said on Thursday. That was in line with expectations following the upwardly revised 0.6 percent increase in the three months prior (originally 0.5 percent). Retail trade and accommodation was up 2.8 percent, driven by an increase in accommodation and food and beverage services. On a yearly basis, GDP was up 2.5 percent - unchanged and in line with forecasts

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The International Finance Corporation (IFC), a World Bank Group's arm, sold 33.7 billion Colombian pesos (US$ 11.65 million) in bonds issued in local currency for the local market. The sale of bonds is also part of IFC's strategy to promote the development of capital markets in Colombia. The World Bank Group's program could reach up to 3 trillion pesos in the next three years. The issue will support IFC operations in Colombia, including financing projects in the South American country. "With this issue, we are again showing IFC's leadership in the development of capital markets in Colombia," said Carlos Pinto, manager of the World Bank Group's Andean region division.

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Peru's new cabinet will be presented on October 12 before Congress to ask for a confidence vote, said Mercedes Ar?oz. She was appointed as new president of the Council of Minister by the Peruvian President Pedro Pablo Kuczynski after the Congress has denied the vote of confidence requested by the former minister Fernando Zavala. Ar?oz Fern?ndez spoke yesterday with the Congress' speaker, Luis Galarreta, and said that she would meet with all represented parties in the House to present the government's legislative agenda in the next few days. Over the weekend, Kuczynski sworn in his new cabinet, after the country's Congress rejected on Friday the confidence vote requested by the then prime minister Fernando Zavala. The decision forced five ministers to step down and led Kuczynski to form a new government team while ratifying the remaining 13 ministers. Zavala requested the vote last week, after accusing the parliamentary majority of censorship. He also said that the cabinet is undermining the educational reforms proposed by the government and forced the resignation of the Minister of Education, Maril? Martens. She is under fire due to her allegedly pivotal role in a teacher's str**e that lasted for 45 days. According to the Peruvian Constitution, if Congress twice refuses to support an entire cabinet of ministers, the president is empowered to dissolve the parliament and to convene a legislative election.

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The Argentinean Central Bank (BCRA) said international reserves increased by US$ 1.862 billion in August, closing the month at US$ 48.877 billion. During August, the increase in international reserves was primarily due to the National Treasury's foreign currency income for bonds placements for US$ 6.156 billion. Also, the National Treasury faced US$ 2.032 billion in bill maturities and made cancellations of capital and interest to international organizations and holders of other securities denominated in foreign currency for approximately US$ 220 million. In addition, a US $ 72 million payment was made to the Latin American Integration Association (ALADI). In August, the National Treasury sold US$ 2.1 billion, and banks and other entities, US $ 362 million. This total was purchased by private sector clients for US$ 1,903 million through the Single Market and Free of Exchange and by the BCRA for US$ 567 million. Finally, the monetary authority recorded a US$ 2,539 million "other net" outflow, which includes the performance of reserves, adjustments in valuation, the purchase and sale of securities, movements in National Treasury accounts and BCRA's operations.

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The Bank of Japan will wrap up its monetary policy meeting on Thursday and then announce its decision on interest rates, highlighting a busy day for Asia-Pacific economic activity. The central bank is widely expected to keep its benchmark lending rate unchanged at -0.1 percent. Japan also will see July results for its all industry activity index, with forecast suggesting a decline of 0.1 percent on month following the 0.4 percent gain in June. New Zealand will release Q2 figures for gross domestic product, with expectations calling for a gain of 0.8 percent on quarter and 2.5 percent on year. That follows the 0.5 percent quarterly gain and the 2.5 percent yearly increase in the three months prior. New Zealand also will see August numbers for credit card spending; in July, spending was up 0.9 percent on month and 7.2 percent on year. Hong Kong will provide Q2 data for current account and August figures for consumer prices. In the first quarter, the current account surplus was HKD16.67 billion. Inflation in July was up 2.0 percent on year. The central bank in the Philippines will conclude its monetary policy meeting and then announce its decision on interest rates. The central bank is widely expected to keep its benchmark lending rate unchanged at 3.00 percent. Finally, the markets in Malaysia and Indonesia are closed on Thursday for the Islamic New Year, and will re-open on Friday.

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Disagreements over the so-called "big district" dominated the discussions on the Brazilian House of Representatives floor on Tuesday during the analysis of the political reform in the South American country - but the lawmakers rejected the system in a 238-205 vote with one abstention. The rejected proposition stated that representatives would be elected respecting the largest number of votes, and not by the current party's ratio coefficient rule. As a result, the proportional system remains in force. In this system, representatives are appointed according to the electoral performance of their parties or coalitions. Tuesday's vote was the third time that representatives protested against the "big district." Last week, the most of the lawmakers had already declared themselves against the system, but the vote was not completed due to lack of quorum. In another vote on political reform in May 2015, the "big district" also did not pass. Any change in the Brazilian electoral system must be approved in the House and Senate until October 7 to be valid in the 2018 election.

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The Brazilian government's total revenue in August saw a 10.78% real increase - discounting the effect of inflation - on an annual basis, totaling R$ 104.206 billion (US$ 33.27 billion). On a monthly comparison, however, Brazil's revenue fell by 5.4% against July, said the country's revenue service. The collection of federal taxes and contributions, known as managed revenue, totaled R$ 102.228 billion last month. Year-to-date, revenue totaled R$ 862.739 billion, up 1.73% over the same period in the previous year. Regarding August, the Brazilian revenue service highlighted an improvement in the collection of taxes on profit (+24.60%), totaling R$ 12.711 billion special installments, which totaled R$ 1.804 billion on fuels, totaling R$ 1.851 billion, up 72.71% over the same period last year.

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Following the 7.1-magnitude earthquake that shook Mexico on Tuesday, the Mexican state-owned oil company Pemex reported that its facilities suffered no damage and were operating normally. The company emphasized that the supply of gasoline is guaranteed and urged people "not to make extraordinary purchases of fuels," once it wouldn't be necessary. The quake killed 217 people so far, said country's Civil Protection Agency. Local authorities initially reported two almost simultaneous earthquakes, but later Mexico's National Seismological Service reported that there was only one 7.1 magnitude quake. The epicenter was located 12 kilometers southeast of Axochiapan, in Morelos state, and a depth of 57 kilometers.