Latin American equities were mostly higher in late trading, but
they were losing some of their gains, which is giving downward
momentum going in to Thursday's session.
Today Latin American markets largely followed gains elsewhere
after Federal Reserve Chairman Ben Bernanke said the U.S. central
bank will keep its pro-stimulus policies in place until
unemployment falls and the economy appears to be on more stable
Speculation that China may soon take steps to support equities
also boosted emerging markets today. The China Securities Journal
was reporting the nation's market is considering measures allowing
investors holding passports from Hong Kong, Macau and Taiwan and
living on the mainland to invest in domestic Chinese shares. China
also may allow more firm to develop asset-backed securities as part
of efforts to boost liquidity, the newpaper reported.
Here's where the regional markets stand today:
- Ibovespa was up 421.81. Now down 69.28, -0.12% at
- IPC (Mexico City) was up 154.59. Now up 104.7, +0.24% at
- Santiago Index IPSA up 17.74, +0.46% at 3,897.9.
- Merval Buenos Aires up 37.75, +1.2% at 3,157.9.
In company news, Swiss commodities trader Glencore today
purchased an undisclosed equity stake in Ferrous, an unlisted
Brazilian exporter of iron ore, also agreeing to purchase 20 mln
tons of ore from Ferrous over the next four years. Shares of Vale
), Rio Tinto (
) and BHP Billiton (
) all are higher today.
Also, ADRs of Grupo Aeroportuario del Sureste SAB de CV (
) are up about 3% and have posted a new 52 week high with the
Mexican airports operator saying the U.S. Federal Aviation
Administration has approved the company's application to operate
the San Juan Luis Munoz Marin International Airport in Puerto Rico
as a public-private partnership.
The approval paves the way for the facility to become the first
major airport under U.S. jurisdiction to be run by a private
operator under the FAA's Pilot Privatization Program, which was
signed into law in 1996. Aerostar expects to invest nearly $1.4
billion over the 40-year life of the lease.
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