Brazil’s Bovespa to Rise 21% by 2010, I say 50%+ to 100,000

Who are they fooling, they are predicting 80,000 by the END of 2010????

Damn are they going to be way, way, way wayyyyyyyyyyyy off on this call, by the time the s$p gets to 1200+ brazils bovespa will be at 80,000+ and that will be by Jan-Mar 2010, heck that might be by end of 2009. By the end of 2010 the bovespa will be well above 100,000.

This is the biggest bull market in history.






Brazil’s Bovespa to Rise 21% by 2010, Citigroup Says (Update1)


By Tal Barak Harif

Nov. 10 (Bloomberg) -- Brazil’s Bovespa index, poised for its best annual advance since 2003, may gain another 21 percent to a record by the end of next year as profits rise and a global recovery boosts Latin American economies, Citigroup Inc. said.

The Bovespa will likely climb to 80,000 by the end of 2010, Geoffrey Dennis, Citigroup’s New York-based global emerging markets strategist, wrote in a research report distributed today. Mexico’s Bolsa index will probably increase 7.7 percent to a record 33,000, he said.

“We expect Latin American markets to rise further in 2010, but at a much slower pace than this year,” Dennis wrote. “ The rising cycle in regional earnings should build during 2010.”

The Bovespa is up 77 percent this year on speculation record-low interest rates and rising consumer demand will bolster growth in Latin America’s biggest economy. Dennis’s 2010 forecast amounts to a 113 percent rally from the end of 2008.

The measure advanced 0.1 percent to 66,303.44 today. It climbed to a record 73,516.81 on May 20, 2008.

Mexico’s Bolsa advanced for a fifth day, the longest winning streak in a month, climbing 0.5 percent to 30,788.20. The index has added 38 percent in 2009, while the MSCI EM Latin America Index has surged 96 percent.

Emerging-market economies will probably grow 5.6 percent in 2010, with Latin American countries expanding 4.1 percent, Dennis said. Brazil and Peru will lead the increase, he wrote.

Peru’s Lima General Index probably will climb 12 percent from yesterday’s level to 16,500 by the end of 2010, the strategist wrote. Chile’s Ipsa will rise 12 percent to 3,800, while Colombia’s IGBC will gain 17 percent to 13,000, he said.

The MSCI Emerging Markets Index is likely to climb 25 percent to 1,200 by the end of 2010, Jonathan Garner, the chief Asia and emerging-market strategist at Morgan Stanley in London, wrote in a research report yesterday.