Latin America stocks plunge on US, European losses, currency fears

Описание: (15 Oct 2008) SHOTLIST
AP Television
Buenos Aires, Argentina - 15 October, 2008
1. Corrientes Avenue street scene
2. Argentine stock market
3. Trading screens
4. Various, index screens
5. Various of brokers
6. SOUNDBITE (Spanish) Jorge Companiucci. Financial Analyst of International Markets:
"For the time being Argentina is only a spectator, but it is a spectator who sees the reflection of the global sentiment. Even if prices around the world are low, in Argentina, despite the fact that its companies look relatively solid, their (stock) prices do not reflect that."
7. Various traders
Band TV - No access Brazil
Sao Paulo - 13 October
8. Trading floor
9. Various of brokers
STORYLINE
Latin American stock prices plunged on Wednesday following losses across Europe and North America.
Commodities and currency prices also fell.
Brazil's Ibovespa stock index plunged 11.4 percent to 36,833, triggering an automatic 30-minute suspension of mid-afternoon trading.
Vale do Rio Doce, the world's largest iron ore miner, lost 15.2 percent, while state-run oil company Petrobras fell 12 percent as crude hit a 13-month low.
Together, the two companies comprise 34.5 percent of the Ibovespa.
The index lost 25 percent of its value last week, but had its biggest one-day gain in a decade on Monday before slipping again.
Elsewhere, Mexico's benchmark IPC index fell 5.2 percent to close at 21,097 as the government began an investigation into publicly-listed companies that may have failed to report purchases of highly speculative currency derivatives.
Argentina's Merval index plunged 12.2 percent to 1,186 while Chile's IPSA index dipped 0.4 percent to 2,432.
In Colombia, the main IGBC stock index fell 6.4 percent to close at 7,667, erasing most of the previous day's gains.

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