Latin American Market Tumble as Europe Unrest Boils Over; Commodity Losses Undermine Trader Sentiment

By Staff,

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Latin American markets are struggling today, falling with global stocks in the wake of European unrest overnight over proposed austerity measures in Spain and Greece. Declines in commodity prices, with bullion prices down about 1% and crude oil now off nearly 2%, undermined trader sentiment.

Here's where the regional markets stand today:

- Ibovespa down 386.12 (-0.6%) to 60,102.37.

- IPC (Mexico City) down 75.68 (-0.2%) to 40,138.

- Santiago Index IPSA down 9.34 (-0.2%) to 4,189.79.

- Merval Buenos Aires down 44.70 (-1.8%) to 2,488.72.

In ADR news, anti-trust regulators in Brazil today postponed a decision on whether to allow a takeover of the airline WebJet by Gol Linhas Aereas ( GOL ), the country's No. 2 carrier, until the agency's next full meeting in about two weeks.

Reuters is reporting the Cade board member in charge of the case, Ricardo Ruiz, said his colleagues on the anti-trust panel wanted more time to review the merger, which was announced in July 2011.

GOL is down about 1.2% this afternoon.

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: GOL

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