On the way up

Latin American equity markets have delivered strong gains for two consecutive years, helped by factors including lower risk aversion among investors, improvements in the outlook for global growth, higher commodity prices and strong domestic and corporate profits growth. In the wake of this strong performance, it is likely 2005 will offer more moderate returns although robust economic growth across the region and the high profitability of Latin American companies should support equity market performance. It is likely Brazil offers the best investment opportunities in the region although ther...