Here is the menu at Bloomberg’s Latin America page right now. Of the eight headlines chosen as representative of the region, six are about Brazil and one (the EM markets story) isn’t even about Latin America. Truly pathetic regional coverage.
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Banco do Brasil Profit Slides 29% on Increase in Loan-Default Provisions Banco do Brasil SA, Latin America’s biggest federally controlled bank, said first-quarter profit declined 29 percent as it set aside more funds for loan defaults.
Stocks in Emerging Markets Drop for Fourth Day; Oil Falls, Treasuries Gain Stocks fell, led by the biggest decline in emerging markets this month, and commodities dropped on concern the recovery from the first global recession since World War II will falter.
Brazil’s Real to Extend Rally for Three Month Before Falling, Embraer Says Brazil’s real will extend a six-week rally for two to three months before weakening again as commodity prices slump, according to Empresa Brasileira de Aeronautica SA, the nation’s largest industrial goods exporter.
Bovespa Stock Futures Fall on Retail Sales Slowdown, Commodities Decline Brazil’s Bovespa stock futures dropped, indicating the gauge may extend its three-day retreat, after commodities slumped and retail sales expanded less than expected in Latin America’s largest economy.
Usiminas Posts Unexpected First-Quarter Loss on Lower Production, Prices Usinas Siderurgicas de Minas Gerais SA, Brazil’s second-largest steelmaker, unexpectedly posted a loss, the first since 2002, after production plunged.
Brazilian Retail Sales Rose 1.8 Percent in March From Year Earlier Month Brazil’s retail sales rose 1.8 percent in March from a year ago, the national statistics agency said.
Ecopetrol Profit Falls 30% to 1.61 Trillion Pesos in Quarter As Oil Slumps Ecopetrol SA, Colombia’s state- controlled oil company, said first quarter profit fell 30 percent because of declining crude prices.
Brazilian Steelmaker CSN Says First-Quarter Profit Slumps 52% on Demand Cia Siderurgica Nacional SA, Brazil’s third-biggest steelmaker, said first-quarter profit plunged 52 percent as it cut output to match lower demand amid a global economic slump.
