Weekend Edition: Equities Sell Off as Oil and Metals Firm
Latin American equity indices fell across the board this week even as Brent and precious metals rallied, leaving the Brazilian real as the region's soft spot while deal flow — headlined by JBS's US$10bn Asian joint venture — stayed busy underneath.
Equity markets| MARKET | CLOSE | WEEK | READ |
|---|
| Ibovespa · Brazil | 166,934 | −3.23% | Banks dragged the tape into a broad retreat | | S&P/BMV IPC · Mexico | 64,397 | −3.80% | Heaviest regional decliner despite a firmer peso | | S&P Merval · Argentina | 2,947,349 | −4.52% | Worst five-day run in the region | | Chile · ECH (ETF) | 40.32 | −2.25% | Slipped in sympathy with peers | | Peru · EPU (ETF) | 88.69 | −2.26% | Softer, but comparatively resilient | | S&P 500 · US | 7,786 | +0.36% | Held green while LatAm sold off |
Currencies · per US dollar| PAIR | CLOSE | WEEK | READ |
|---|
| USD/BRL | 5.2223 | +2.77% | The real was the notable currency laggard | | USD/MXN | 17.0170 | −0.61% | Peso quietly gained ground | | USD/CLP | 914.45 | +0.27% | Barely budged despite copper's bid | | USD/COP | 3,141.50 | −0.37% | Firmer on steadier oil | | USD/PEN | 3.3694 | −0.39% | Sol crept higher | | USD/ARS | 1,487.50 | −0.73% | Continued its slow grind stronger |
Commodities| INSTRUMENT | CLOSE | WEEK | READ |
|---|
| Gold · spot | 4,380 | +0.91% | Nudged toward fresh highs | | Silver · spot | 64.99 | +2.61% | Outpaced gold on the week | | Copper · lb | 6.60 | +0.44% | Firm, but the peso didn't follow | | Brent · bbl | 88.52 | +5.95% | The week's standout move higher |
Deals of the week| TARGET | ACQUIRER | COUNTRY | VALUE | SECTOR | READ |
|---|
| JBS Australia/New Zealand operations (JV) | JBS & PT Danantara Investment Management | Brazil | US$10bn | Food & Beverage | Second-largest deal in JBS's history | | IHS Towers South American tower operations | Macquarie Asset Management | Brazil | Undisclosed | Telecom Infrastructure | Adds 8,700-plus Brazilian tower sites | | Amil | Bain Capital & Advent (consortium) | Brazil | Up to R$17bn | Healthcare | Private equity circles a health-insurance giant | | Navi Capital real estate platform | Vinci Compass | Brazil | R$700m | Asset Management | Fills a real estate gap in the lineup | | Terminal Porto São Luís | Undisclosed buyer | Brazil | R$300m | Ports & Logistics | Cosan's asset-sale, debt-cutting drive continues | | Transcopa (70%) | Tegma | Brazil | R$99m | Transport & Logistics | Pushes into chemicals and grains logistics | | La Esperanza Solar project | Copenhagen Infrastructure Partners (GMF II) | Mexico | ~US$510m | Energy | CIP's first Mexican project reaches financial close | | Colombia road & airport concessions | Ashmore CAF-AM | Colombia | ~US$215m | Infrastructure | A road and an airport get funded |
Capital raising| COMPANY | INVESTORS | STAGE | COUNTRY | AMOUNT | READ |
|---|
| Kesh | Leste (lead), BR Angels, Across Capital partners | Equity & Debt | Brazil | BRL550m (~US$108.2m) | Interest-cashback fintech scales its thesis | | Decade | Greenoaks, Benchmark, Diffusion Capital | Seed | Brazil | US$85m | Latin America's largest seed round | | Duppla | Patria Investments (lead), Skandia, Cometa, Grupo Pegasus, Nazca | Debt & Equity | Colombia | ~US$60m | Patria's Colombian venture debut | | Yuno | Global PayTech Ventures (lead) | Series B | Colombia | US$45m | Payments infrastructure gets an AI push | | NeoSpace | Undisclosed | Seed | Brazil | Up to US$250m | Ex-Zup founders chase a billion-dollar valuation | | CAF-AM Peru Infrastructure Senior Debt Fund | COFIDE (anchor) | Fund commitment | Peru | Up to PEN110m (~US$32.5m) | Anchor commitment to a Peru infra debt fund | | Torrecom Partners | Proparco, DEG, IDB Invest, Allianz, ILX Fund, BAC | Debt Financing | Latin America | US$140m | Long-term funding for tower expansion |
Market data: Yahoo Finance, Alpha Vantage.
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