Latin American markets are mostly lower today, catching up on
declines yesterday for U.S. equities while stock exchanges
throughout the region were closed for the Labor Day holiday.
The steepest falls today are among Brazilian and Argentine
stocks. The Ibovespa index tracking Brazilian stocks is down 1% -
albeit showing some signs of paring losses - including 4% declines
each for electric utility Light SA and ground shipper LLX Logistics
and a 3.5% dip for Bradespar, the Brazilian industrial holding
The Merval Sao Index is down about 1.1%, pulled down by a 5.4%
slide for Tenaris SA (
) after the steel pipeline-maker late yesterday reported Q1 revenue
that lagged forecasts. Petrobras Argentina SA (
), the Argentine affiliate of the Brazilian energy giant, also is
down about 2.5% while BBVA Banco Franc (
) is leading financial shares south.
Here's where the regional markets stand today:
- Ibovespa was down 700.30. Now down 541.66 (-1%) to
- IPC (Mexico City) was down 149.9. Now down 156.2 (-0.37%) to
- Santiago Index IPSA up 8.99 (+0.2%) to 4,301.1.
- Merval Buenos Aires down 41.46 (-1.1%) to 3,804.48.
In other individual company news, ADRs of Companhia de Bebidas
Das Americas, more commonly known as AmBev (
), are down more than 1% on the NYSE despite HSBC Securities today
raising its rating for shares of the beverage company to Overweight
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