All Latin American markets were dragged down by the 'Samba effect', and the Caracas market was no exception.

The apathy will only be broken by some striking economic or political news.

If oil prices hold, or better still, if they rise, I think in the coming days we are going to see stock prices rise even further.

It definitely wasn't one of the better years. The effect of the economic crisis in Asia, which started at the end of 1997, was felt first, then the fall in the price of oil and finally the overwhelming electoral uncertainty.

The reason behind the rise is the change in perception of Hugo Chavez, both among local investors and foreigners. The statements from the president-elect were taken very positively by the market.

There are various negative factors which have clouded the upward trend of previous days.