Latin America markets are lower today, with new data showing
euro-zone services and manufacturing sectors contracted at a faster
pace than economists were expecting this month, which is likely to
mean there won't be a big increase in demand for commodities from
Europe any time soon.
Here's where the regional markets stand today:
- Ibovespa was down 535.22. Now down 496 (-0.9%) to
- IPC (Mexico City) down 388.11 (-0.88%) to 43,911.45
- Santiago Index IPSA down 46.32 (-1.18%) to 3,871.19
- Merval Buenos Aires down 132.80 (-4.06%) to 3,135.97
Brazil's Ibovespa Index is down for a seventh day in a row, it's
longest losing streak in nine months. Included is a 2% drop and
year low for Petroleo Brasileiro SA (
), also known as Petrobras, amid reports the state-owned energy
company is set to sell about $400 mln of its assets in Argentina to
a local firm, Oil Combustibles, according to Reuters.
Discount airline GOL Linhas (
) is down about 4% - the largest decline among Ibovespa components
- extending its slide to a fourth day after earlier this week
reporting a 17.8% reduction in domestic market supply.
U.S.-listed shares of Gerdau SA (
) are little changed this afternoon, giving back small gains
earlier today after the Brazilian steel-maker forecast improving
profit in upcoming quarters, helping overshadow Q4 earnings that
missed analyst estimates.
In other regional news, Itau Unibanco Holding S.A. (
) is down about 1.9% after saying CEO Roberto Egydio Setubal will
step down from the bank next year after turning 60 years of
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