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 is a very strong public perception that an unregulated ownership of land, such as housing by foreigners, contributes significantly to the lack of readily available and affordable land for land reform.

There is a socially responsible reason for wanting to redistribute land and foreigners may be purchasing land in rural areas where the government wants to redistribute.

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.