LatAm’s 10 most valuable companies on Wall Street after Q1

By Sebastián Osorio Idárraga

Amid high inflation and interest rates that continued to rise in the United States, some Latin American public company stocks stood out on Wall Street, despite strong movements due to the banking crisis and the falls of Silicon Valley Bank and Credit Suisse.

Despite these factors, US stock markets added gains in March and the first quarter of 2023.

The Nasdaq Composite gained 16.8%, the S&P 500 was up 7.03%, and the Dow Jones Industrials just 0.38%.

Following these results, Bloomberg Línea ranks the 10 Latin American companies with the highest market value listed on the stock exchange.

Vale S.A., based in Brazil, ranked as the most valuable LatAm company on Wall Street at the close of the first quarter, with a market capitalization of US$71.625 billion on March 31, 2023, according to Bloomberg data.

It produces and sells iron ore, pellets, manganese, alloys, gold, nickel, copper, kaolin, bauxite, alumina, aluminum, and potash.

In second place is Walmart Mexico, with a market value of US$69.513 billion.

This company sells food, clothing, and other items in various store formats.

It operates Walmart supercenters, Sam’s Club wholesale outlets, Bodegas discount stores, and Superama supermarkets.

The ‘Top 3′ rank of the most valuable companies in the region on the US stock exchanges is closed by América Móvil S.A., reaching a market value of US$66.543 billion.

América Móvil provides telecommunications services.

It offers wireless and fixed voice services, such as airtime, broadband, and local, national, and international long-distance services.

Juan David Ballén, head of Economic Research at Casa de Bolsa, told Bloomberg Línea that his “expectations for global stock markets are not so positive because the probability of a financial crisis in developed economies has increased.”

Also on the list of the ten most valuable stocks in the region on Wall Street by market capitalization are:

4. MercadoLibre: US$66.242 billion.

5. Petrobras S.A.: US$64.805 billion.

6. AmBeV S.A.: US$44.391 billion.

7. Itaú Unibanco Holding S.A.: US$44.211 billion.

8. Grupo Mexico: US$36.9 billion.

9. Weg S.A.: US$33.830 billion.

10. Fomento económico Mexicano: US$30.924 billion.

With information from Bloomberg