04 August 2010

Financial Market Team update (English)

Mexicana files for bankruptcy in Mexico and U.S.
Mexico’s airline filed for insolvency proceedings in Mexico and for bankruptcy protection in U.S. to avoid (more of) its airplanes to be seized by its creditors. It’s struggling to restructure its liabilities and to come to an agreement with its employees’ unions. The Mexican government is not planning on bailing the company out.
(El Financiero, Wall Street Journal)

U.S. stocks advanced today after unexpected growth in the jobs and service industries.
Brazil's Bovespa started to rise again, after yesterday's fall had ended an 11-day winning streak.
European markets closed with mixed results and minor changes.
Asian stock markets, fell on yesterday's disappointing home sales and factory orders releases.
(FT$, Bloomberg)

After crude oil rose 7.2% in four days, today it remains almost unchanged. U.S. gasoline inventories increased more than expected, but U.S. economic indicator releases were positive.
Gold rose for the sixth straight day.
(FT$, Bloomberg)

Patrick Signoret and Georgina Lara

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