The Brazilian economy grew the fastest during the first quarter, in recent years. The Brazil Bovespa Index, which declined 6.4% year to date, gained momentum boosted by the country's infrastructure plans and the mining resources the country holds.
Several undervalued Brazilian stocks may gain momentum during the second half of the year. U.S. listed Brasil Telecom (BTM), Tele Norte Leste (TNE), Companhia de Saneamento Basico (SBS), Vale (VALE), and Petrobras (PBR) are currently trading at attractive P/E ratios of 5.2, 6.0, 8.2, 8.2, and 9.1, respectively.
Chile's IPSA Index gained 15.1%, the most year to date. Mexico's IPC Index gained close to 1.4%, while Argentina's Marvel Index declined around 1.2%.
In the Middle East, Dubai's DFM General Index shed around 17.4% year to date and offers an attractive P/E multiple of 5.5. In comparison, Saudi Arabia's Tadawul Index gained 2.9%.
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass + 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV