Yesterday, on CNBC’s Street Signs, the focus was on the “MINT” economies: Mexico, Indonesia, Nigeria, and Turkey, as they are coined, or “MINTs”.
Is Latin America on the mend? Earning season can be a tough time trading for anyone looking at short term position but for emerging market investors it can be time to gain insight to emerging market economies.
Mexico, one of the most defensive and best performing markets in the world over a 12-month period has given up some ground today, breaking the 50-day moving average for the first time in months.
Colombian regulators have decided that the American Movil (AMX, quote) unit in the country, Claro, will not be allowed to participate in an upcoming 4G auction. Minister of Information Technology and Communications, Diego Molano, announced that the decision was to correct inequalities in the market for telecoms (Spanish).
America Movil (AMX, quote), Latin America’s largest mobile-phone carrier, beat revenue and earnings expectations for the third-quarter when it reported last week. Net income increased to $0.61 per share on top-line revenue growth of 4.5% to $14.8 billion. The report represents a strong 67% increase in net income over the same period last year, largely on an increase in data services and pay-per-view TV services.
The IPC index of the Mexican stock exchange, the Bolsa Mexicana de Valores (BMV), is the primary stock index for the country’s only bourse. You might think of it as Mexico’s S&P 500.