FCX and PCU upping very nicely. FCX (+20%) is beating out PCU (+14%) today, and after the weekend musings I’m quite happy to see that. It’s only one day, though.
Mercado Libre (MELI) up a very tasty 24% and making a very large move on good volumes. Otto is not surprised to hear the headless chickens in Brazil now think the consumers won’t be that badly affected. Wait three days and they’ll be screaming death again, just watch and see.
Cosan (CZZ) up 9%, but still under $3. You notice that story about low coffee harvests in Brazil this morning? That’s the same for sugar, too. If you think soft commods are staying at these low prices, you are so way way wrong it hurts.
Dynasty (DMM.to) up 2% at $1.40. I didn’t get any more today, but never mind. You go girl.
The Brazilian Bovespa index having a great day, up 7.7% right now. Plenty of winners on show, with Petrobras (PBR) and the local telephony plays such as Vivo (VIV) all doing well. Gafisa (GFA) strong too…wanna buy some expensive real estate? Nah, didn’t think so…………