Financial, Energy Stocks Leading Latin American Markets Up; Miners Mixed, But Rio Tinto Digs Out Gains On Cost Cut Plans

By Staff,

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The Latin American markets are higher in late trading, supported by gains among financial and energy stocks. Shares of mining companies are mixed, with gold stocks mostly lower despite moderate gains for the precious metal today in commodities trading.

Here's where the regional markets stand today:

- Ibovespa was up 873.13, now up 922 at near to 57,461.7.

- IPC (Mexico City) was up 131.61, now up 126 at near to 42,044.

- Santiago Index IPSA now up 16.59 to 4,128.

- Merval Buenos Aires was up 45.28, now up 51 at near to 2,378.6.

In company news, Rio Tinto ADRs ( RIO ) are up 4.5% as the iron ore producer announcing plans to cut $7 billion in costs over the next two years in response to weaker commodity prices. The company also expects to step up asset sales.

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: RIO

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