Brazil Stocks Wobble in Light Trading

By THE ASSOCIATED PRESS
Published: November 27, 2008
Filed at 12:49 p.m. ET
SAO PAULO, Brazil (AP) -- Brazilian stocks briefly tracked gains for European and Asian markets on Thursday before dipping slightly. Other markets rose moderately.
Brazil's Ibovespa index was down 0.35 percent to 36,343 in afternoon trading. The country's currency, the real, was up at 2.2 per dollar.
Thursday's initial advance for the Ibovespa came after investors cheered China's 1 percentage-point interest rate cut to spur private borrowing and support a multibillion-dollar stimulus package to keep the nation's economy from slowing too fast.
Brazil, Latin America's biggest economy, is a big exporter to China of raw materials and commodities including iron ore and soy.
Mexico's main IPC index rose by nearly 1 percent to 20,168 in midday trading Thursday, while Colombia's IGBC index rose 2 percent to 7,372.
Chile's IPSA index crept upward 0.45 percent from Wednesday's close to 2,431, and Argentina's Merval index was up nearly 2 percent at 971.
U.S. markets were closed Thursday for the Thanksgiving holiday.