sell-off in shares of oil firm OGX drove Brazil's Bovespa stock
down on Th ursday while Mexican shares rallied on bets Sunday's
presidential election will usher in quick reforms.
OGX Petroleo, owned by Brazilian billionaire Eike
Batista, led losses on the Sao Paulo stock exchange as it
extended Wednesday's 25 percent slump. But hopes for more
growth-spurring interest rate cuts in Brazil cushioned the fall
in the benchmark Bovespa index.
Mexico's IPC was the only major Latin American stock
index to hold its gains as investors bet the opposition
Institutional Revolutionary party, led by front-runner Enrique
Pena Nieto, will sweep Sunday's election.
"What happens on Sunday is helping shares. It's practically
a fact that Enrique Pena Nieto is the winner," said Gerardo
Sienra, who is in equity sales at Intercam in Mexico City.