As global markets converge, it becomes more important for investors to keep track of world events. But with our busy schedules, this is easier said than done. It's hard enough keeping tabs on our own markets, let alone what's happening with Brazil's Bovespa.

With the help of 97,000 investors participating in Motley Fool CAPS, we'll summarize notable global-market stories to help you stay abreast of events affecting your portfolio.

The Chinese market continued to struggle this week, with the Shanghai Composite closing at 3,094.66, a new 52-week low.

Chinese airline ADRs like China Southern Airlines and China Eastern Airlines have been hit particularly hard this week, as the combination of high domestic inflation, rising oil prices, and merger news from Delta (NYSE: DAL) and Northwest Airlines (NYSE: NWA) took its toll. Both Chinese airlines remain well off their September 2007 highs.

Following years of scorching Chinese stock growth, it shouldn't come as a surprise to see such a correction. But don't fret. Such a broad sell-off will also create some values. In fact, CAPS investors remain bullish on Aluminum Corp. of China (NYSE: ACH) and (Nasdaq: CTRP), bestowing  each a coveted 5-star rating.

Italy re-elected right-leaning Silvio Berlusconi to a third term as prime minister this week. Berlusconi didn't hesitate to get things moving, meeting with Russian President Vladimir Putin this week in hopes of improving economic relations. One item on their agenda: joint-venture activities of the countries' oil and gas giants, Italy's Eni SpA (NYSE: E) and Russia's OAO Gazprom. If the discussions yield quantifiable results, Eni SpA would further justify its top rating on CAPS.

In other European news, British megaretailer Tesco plc bucked the global trend of poor retail reports and posted 12% earnings growth. This didn't shock CAPS investors, however, and Tesco has been a 5-star stock since January.

Latin America
CAPS investors have good reason to love Brazilian stocks. This week, the Bovespa added about 4% on the back of a monster oil discovery by Petrobras (NYSE: PBR) off the shores of Brazil. Over the past year, Petrobras shares have gained an astounding 138%, but CAPS investors think the recent oil discovery can further fuel shares upward. Of the 1,762 players who have rated the stock, over 98% think it will continue to outpace the S&P 500.

Other 5-star Latin American ADRs that did well this week were Chile's Sociedad Quimica y Minera (NYSE: SQM) and Brazilian pork and poultry processor, Sadia.

What do you think?
Will the Chinese market stay down for much longer? Is that oil discovery in Brazil the real deal? Let your thoughts on the global markets be heard on Motley Fool CAPS, where 97,000 investors are just waiting to hear what you have to say. CAPS is 100% free, so what are you waiting for?

Sadia and are Motley Fool Hidden Gems picks. A free 30-day trial to our small-cap service is yours by clicking here.

Fool contributor Todd Wenning wishes everyone a nice weekend. He does not own shares of any company mentioned. Petrobras is a Motley Fool Income Investor choice. The Fool's disclosure policy is solid in any language.