Latin American Markets Getting a Lift From Gains for Mining, Energy Stocks; Mexico's IPC At New Record Highs


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The Latin American markets are broadly higher today, propelled by strong gains for mining and energy stocks. Shares of gold mining companies, in particular, are getting a boost from bullion bouncing off a 1-month low yesterday to climb today. Mexican stocks closed at an all-time high Monday on earnings reports and economic data locally and in the U.S. The market's IPC index rose 343 points to 42,009, a new closing high and just shy of its record intraday high of 42,046 points reached a week earlier. They have beaten that today.

Here's where the regional markets stand today:

- Ibovespa up 384.92 (+0.7%) to 60,000.

- IPC (Mexico City) up 458.28 (+1.09%) to 42,466.83.

- Santiago Index IPSA up 37.50 (+0.9%) to 4,283.71.

- Merval Buenos Aires up 25.12 (+1%) to 2,430.20.

In company news, delays in Brazilian sales are helping contribute to a Decline today for shares of Diebold Inc ( DBD ). The automatic teller machine manufacturer reported preliminary Q3 sales of $710 million, trailing the analyst consensus by about $19.5 million - company spokesman Michael Jacobsen telling the Associated Press today that "some major customer orders for ATMs in Brazil are being delayed."

Latin America accounts for more than a fifth of the DBD revenue, with much of those sales coming from Brazil. The company also trimmed expectations for revenue growth during the rest of year, now seeing sales rising about 6% rather than the 6% to 8% growth projected in its prior forecasts.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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This article appears in: Investing , Commodities

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