Energy Stocks Up, Mining Shares Down in Mixed Day for Latin American Markets

By Staff,

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Latin American markets are mixed today with gains for shares of energy companies offsetting declines for mining firms, reflecting investor uncertainty on the chances of central banks moving to stimulate their respective economies, and with the overall global economy.

Here's where the regional markets stand today:

- Ibovespa down 0.46 points to 59,122.28

- IPC (Mexico City) up 184.64 (+0.5%) to 40,550.91.

- Santiago Index IPSA down 12.38 (-0.3%) to 4,168.60.

- Merval Buenos Aires up 16.40 (+0.67%) to 2,446.77

In company news, Brazil's Petrobras ( PBR ) is reporting a major new discovery, finding a 400 meters column in the Carcara prospecting region containing continuous and connected oil reserves of excellent quality. The find is thought to be as large as its 2007 discovery in the Lula field, estimated to contain about 8.3 billion barrels of oil and natural gas.

U.S.-listed PBR shares are up 0.4% today.

Also, shares of Braskem S.A. ( BAK ) are up about 2.5% after the large petro-chemical company reported a $508 million net loss, reversing a compared with a profit of about $207.4 million in the year-ago quarter.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Copyright (C) 2014 All rights reserved. Unauthorized reproduction is strictly prohibited.

This article appears in: Investing Commodities
Referenced Stocks: BAK , PBR

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