En esta noticia de hoy de BLOOMBERG:
JP MORGAN (un banco groso groso) recomienda no comprar equity argentino por el desvanecimiento del crecimiento y el clima electoral de este año.... 
Mexican Stocks Cut to ‘Underweight’ at JPMorgan on Earnings
By Leon Lazaroff - Mar 18, 2011 12:42 PM GMT-0300
Mexican stocks were cut to “underweight” from “neutral” at JPMorgan Chase & Co. (JPM), which cited “poor” earnings and fewer positive surprises from U.S. economic growth.
Mexican equities are likely to reverse course as the U.S. government cuts spending and consumers reduce consumption after the benchmark IPC index gained 24 percent in the second half of last year, Ben Laidler, JPMorgan’s New York-based Latin America strategist, wrote in a report today. JPMorgan cut 2011 gross domestic product growth forecasts for the U.S., Europe and Japan.
Valuations of Mexican stocks are close to historic highs compared with other emerging markets including Brazil, JPMorgan said. “Earnings momentum has been surprisingly poor, given the sharp GDP recovery, making current premium multiples even pricier,” Laidler wrote.
Fourth-quarter results were “weak,” with 40 percent of companies beating earnings expectations, JPMorgan said. Earnings forecasts for this year and 2012 are “vulnerable to continued heavyweight earnings disappointment and easing upward revisions from cyclical” sectors, the report said.
Cemex SAB, the largest cement maker in the Americas, and Grupo Televisa SA (TLEVICPO), the Spanish-language broadcaster, were removed from JPMorgan’s Mexico investment portfolio. Wal-Mart de Mexico SAB, Latin America’s largest retailer, was added to a group that includes America Movil, First Cash Financial Services Inc. (FCFS*) and Kansas City Southern. (KSU)
Argentina was removed from JPMorgan’s recommended Latin America stock portfolio on “fading” economic growth and political change. Brazil remains the “top pick” in the region, Laidler wrote.
Mexico’s IPC index rose 0.2 percent to 35,677.14 at 11:17 a.m. New York time.
To contact the reporter on this story: Leon Lazaroff in New York
llazaroff@bloomberg.net
To contact the editor responsible for this story: David Papadopoulos at
papadopoulos@bloomberg.net