Merval up 1.2% and Bovespa down 1.3%. Not many days when these two go in opposite directions like this. The Merval is benefitting from the 3.5% upmove in its top weighted stock, Tenaris (TS on the US markets)
Cosan (CZZ) down a penny at U$2.49. It traded as low as $2.40 this morning. I’m beginning to feel more confident about yesterday’s $2.50 purchase even though volume has been low today. DYODD, dude. I have and I bot.
Southern Copper (PCU) down 0.5% at $14.30 even though copper has added 3c today to sit at $1.66/lb. PCU is clearly taking its cue from the broader market weakness. I still recall that large insider purchase at $13 and bits I reported last week. Starting to look like good timing.
Amerigo Resources (ARG.to) up 12% at $0.37. I’m going to talk more about this stock in a separate post, either today (if I have time, which I kind of doubt) or over the weekend. Suffice to say there’s good reason to revisit and look closely at the current price. DYODD. I don’t own as yet.