> International > South America > Peru
DIARY - Latin America - to June 4
Reuters: [2008-05-26 13:15:00]
This diary is updated daily. All dates and times are provisional.
The inclusion of diary items does not necessarily mean that Reuters
will file a story based on the event.
__________________________________________________________________
DATE GMT/LOCAL INDICATOR PERIOD F/CAST PREVIOUS
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MAY26 1330/1030 BR current account Apr -$4.4 bln
MAY26 1900/1600 AR trade balance Apr $801 mln
MAY28 1200/0900 BR mid-month inflation May 0.59 pct
MAY28 1330/1030 BR budget surplus (reais) Apr 15.4 bln
MAY29 1100/0800 BR IGP-M inflation May 0.69 pct
MAY29 1300/0900 CL Unemployment Apr 7.6 pct
MAY29 1300/0900 CL Industrial production Apr -1.0 pct
MAY29 1300/0900 CL Copper production Apr -8.4 pct
MAY29 1930/1430 MX economic activ (IGAE) Mar 3.15 pct 5.8 pct
MAY30 1930/1430 MX fiscal balance (pesos) Apr 50.7 bln
JUN 3 1200/0900 BR industrial output Apr 0.40 pct
JUN 4 1000/0700 BR FIPE inflation index May 0.54 pct
JUN 4 2200/1900 BR Selic interest rate Jun 11.75 pct
JUN 4 1930/1430 MX consumer confidence May 97.8 pct
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EVENTS
TUESDAY, MAY 27
MEXICO CITY - Central bank announces results of weekly T-bill
auction 1130 (1630 GMT)
FRIDAY, MAY 30
MEXICO CITY - Mexico releases March metals production data 1430
(1930 GMT)
TUESDAY, JUNE 3
BRASILIA - The central bank's monetary policy committee, or
Copom, begins two-day meeting on interest rates.
WEDNESDAY, JUNE 4
BRASILIA - The central bank's monetary policy committee, or
Copom, announces decision on interest rates after the market
closes.
((Page editor: Inae Riveras, Sao Paulo newsroom, +55 11
5644-7728))
Reuters quote of the day, May 24
Reuters: [2008-05-24 12:00:00]
May 24 (Reuters) - Following is a notable quote from history.
"Pro football is like nuclear warfare. There are no winners, only survivors."
-- Frank Gifford, NY Giants halfback, in 1960. On May 24, 1964, more than 300 people died during a riot at a soccer match in Peru after the referee disallowed a goal.
Keywords: HISTORY QUOTE
UPDATE 2-Rifts threaten to overshadow South American union
Reuters: [2008-05-24 00:28:00]
(Adds Uribe, Chavez comments)
By Raymond Colitt
BRASILIA, May 23 (Reuters) - Twelve South American countries founded a union on Friday aimed at boosting economic integration and political cohesion, but the region's bitter rivalries stymied ambitious plans on defense and trade.
The heads of states signed a treaty that creates the South American Union of Nations, or Unasur, as well as plans for energy, infrastructure and financing projects.
Brazilian President Luiz Inacio Lula da Silva hailed Unasur, which aspires to become like the European Union, as a sign that South America was becoming a "global actor" and said the differences between governments were a sign of vitality.
"The instability some want to see in our continent is a sign of life, especially political life," he said. "There's no democracy without people (protesting) in the streets."
Unasur includes a rotating presidency, biannual meetings of foreign ministers and a parliament in Bolivia, marking progress toward greater unity in a region that is enjoying a period of relative economic stability.
As the major regional power, Brazil has for years been trying to unite South America as a counterbalance to U.S. and European economic interests in the region.
But South America has been strained by political divisions pitting U.S. critics such as Bolivia and Venezuela that favor state intervention in the economy against market-friendly countries like Chile and Colombia, with closer U.S. ties.
The new group falls short of ambitious plans for economic and security integration, including the original intention to merge the South American customs union Mercosur and the Andean Community trading bloc.
Unasur members are Argentina, Bolivia, Brazil, Chile, Colombia, Ecuador, Guyana, Paraguay, Peru, Suriname, Uruguay and Venezuela.
'DEAD POINT'
Colombia turned down the presidency because of its tensions with Venezuela and Ecuador and rejected a Brazilian proposal to create a regional defense council. Chile will lead the group first instead.
Colombia says its problems with terrorism make military cooperation difficult, in a reference to the FARC rebel group, whose fighters it has accused Ecuador of harboring.
Colombian President Alvaro Uribe said after a meeting with Lula that Unasur members should classify as terrorists all groups that violently attack democracy in the region.
Unlike Colombia, Brazil and other countries in the region do not consider the FARC a terrorist group.
"Unfortunately our relations with the Colombian government are in a very deplorable situation, at a dead point," Ecuadorean President Rafael Correa told reporters.
Former Ecuadorean President Rodrigo Borja turned down the post of secretary-general, saying it lacked decision-making powers. Despite the obvious tensions at the summit, leaders said it was an important step forward for a region that has rarely spoken with one voice.
"Unasur means that we can be a global actor, that we have a single voice that can be heard," Chilean President Michelle Bachelet said.
After Colombia's rejection of the defense council, the other 11 members agreed to establish a task force to present a revised proposal within 3 months.
Lula met the region's more radical left-wing leaders of Venezuela, Ecuador and Bolivia before the summit, urging them to put aside differences with other countries in the region, a senior diplomat told Reuters.
Venezuela blamed Washington on Friday for fueling disputes through its ally Colombia.
"The empire is counter-attacking ... Washington is rebuilding the oligarchies" in South America, Venezuelan President Hugo Chavez said in a TV interview after the summit.
The United States is mobilizing oligarchies and opposition politicians in Bolivia and Argentina, he said. (Additional reporting by Isabel Versiani and Julio Villaverde; writing by Stuart Grudgings; editing by Mohammad Zargham)
((ray.colitt@reuters.com; + 5561 3426-7021))
Keywords: SOUTHAMERICA UNION/
*TOP NEWS* Latin America
Reuters: [2008-05-23 23:10:00]
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TOP STORIES
> Divisions threaten to overshadow S.America union [nN23290317]
> Fidel Castro attacks McCain, Bush in column [nN23185742]
> Obama promises Cuba policy shift, attacks McCain [nN23286465]
> Mexican drug hitmen dump four heads in ice chests [nN23280966]
> Argentine farm conflict simmers after talks fail [nN23191480]
> Chile flood-displaced hit 14,000, roads, rail cut [nN23282936]
> Brazil's auto industry cruises as economy booms [nN23173283]
> Bush: Still chance for Colombia, South Korea pacts [nN23214154]
> Chile Codelco shuts Teniente mines after landslides[nN23279444]
> Peru sees rich past inspiring gold jewelry exports [nN23193339]
> Brazil defends creation of sovereign fund [nN23419763]
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LIVE PRICES & DATA
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Keywords: *TOP NEWS* Latin America
US copper futures end up in rebound from 2-mth low
Reuters: [2008-05-23 20:25:00]
NEW YORK, May 23 (Reuters) - U.S. copper futures ended up in mostly technical business on Friday after an overnight test of key support held, sparking a bout of short-covering into the close and ahead of the long holiday weekend, traders said.
NOTE: For detailed report, click on [MET/L].
* New York energy and commodity markets will be closed Monday in observance of Memorial Day. The London Metal Exchange will be closed on Monday for the Spring Bank Holiday. Both markets will reopen on Tuesday.
* Copper for July delivery <HGN8> settled up 2.35 cents at $3.7360 a lb on the COMEX metals division of the New York Mercantile Exchange. The range spanned from $3.6485, its lowest level since March 25, to $3.7390.
* By 1 p.m. EDT (1700 GMT), volumes estimated at 10,542 lots. Final futures volumes on Thursday totaled 15,595 lots.
* Open interest in the market fell by 354 lots to 99,526 contracts open as of May 22.
* July contract's ability to hold support at $3.65 prompts investor short-covering into the close - trader.
* Market a bit oversold. Prices could be due for a bounce after absorbing some of the negative news over the past week, with a weaker dollar underpinning the positive turnaround - Steve Platt, futures analyst with Archer Financial Services in Chicago.
* The dollar fell against the euro as record high oil prices left the U.S. economy vulnerable to slower growth and rising inflation.
* The euro was up 0.3 percent at $1.5780 <EUR=>, off a one-month high of $1.5814 touched on Thursday. On the week, it rose 1.2 percent, the most since March.
* Copper market loses some of its bullish backing as concerns about strike threats and supply disruptions recede.
* With high oil prices threatening the global economy, it may well be that supply concerns will start to diminish and be overtaken by concerns over the prospects for falling demand - BaseMetals.com's metals analyst William Adams.
* U.S. existing home sales fell 1 percent in April to a 4.89 million-unit annual rate - the National Association of Realtors. [ID:nN23198558]
* Copper inventories in warehouses monitored by the Shanghai Futures Exchange dropped 5,921 tonnes, or 11 percent, to 45,586 tonnes in the week ended Thursday. [ID:nBJD000294]
* Trade data showed Chinese imports of refined copper sank 31 percent in April from year ago levels.
* China imported 127,977 tonnes of refined copper in April, up 1 percent from 126,421 tonnes in March. [ID:nSP133874]
* LME copper stockpiles rose by 175 tonnes to 125,375 tonnes on Friday.
* COMEX copper stocks increased 198 short tons to 10,819 short tons on Thursday.
* In industry news, Mexico's mining union threatened to stage a one-day national strike next week if the labor ministry failed to confirm the re-election of their leader. [ID:nN21439364].
* World refined copper consumption exceeded production by 60,000 tonnes in February, compared with a deficit of 69,000 tonnes in February 2007 - International Copper Study Group. [ID:nN20335678]
* LME three-month copper <MCU3> closed at $8,180 a tonne, up $50 from Thursday's kerb close. (Reporting by Chris Kelly) ((chris.kelly@thomsonreuters.com; +1 646 223 6042; Reuters Messaging: chris.kelly.reuters.com@reuters.net))
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RELATED NEWS AND OTHER TOPICS Precious metals news [GOL] All metals news [MTL] All commodities news [C] Metals diary [MTL/DIARY] Ldn Bullion Mkt Assoc <LBMA01> Foreign exchange rates <FX=S>
Keywords: MARKETS COPPER/COMEX
Next: US copper opens down, ongoing technical weakness