Latin American markets are mixed today, with the Ibovepsa index
snapping a seven-day slump, albeit losing gains over the home
stretch. In the meantime, the primary indices for shares of Mexican
and Argentina are moderately lower.
Here's where the regional markets stand today:
- Ibovespa was up 424.53. Now up 353.5 (+0.6%) to 56,508.
- IPC (Mexico City) was down 180.02. Now down 195.7 (-0.4%) to
- Santiago Index IPSA up 17.68 (+0.45%) to 3,914.93.
- Merval Buenos Aires down 5.89 (-0.2%) to 3,118.5
An upbeat assessment of German business attitudes is helping
lift many stocks today. The German Ifo business climate indicator
rose to 107.4 for February, its best one-month rise in more than
two years and boosting optimism after disappointing PMI data
earlier this week rekindled concerns over the euro zone
But the advance was limited by new government data today showing
inflation in Brazil slowed less than expected through mid-month
despite a government-sponsored cut in electricity rates, fueling
worries the central bank could raise interest rates later this
The IPCA-15 consumer price index rose 0.68%, above the median
analyst forecast for a 0.61% rise, the government statistics agency
IBGE said. The index rose 0.88% in the prior month.
Gains on the Ibovespa index and for the IPSA index in Chile were
carried by wood pulp exporters after Suzano Papel e Celulose SA
said it would raise wood pulp prices by $20 per ton beginning next
month. Suzano (SUZB5.SA) shares are up nearly 6% today.
U.S.-listed shares of BRF Brasil Foods (
) are up about 4.5% after the food wholesaler late yesterday said
retail tycoon Abilio Diniz was nominated to be board chairman.