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
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 (
). 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.