Referenced Stocks

Latin American Markets Higher Today, Shrugging Off Disappointing China Trade Data

By Midnight Trader,  August 10, 2012, 01:22:00 PM EDT

Latin American markets are higher today, shrugging off new data that showed Chinese exports declined during July in another sign economic growth for a top customer of Latin America's raw goods providers is sluggish.

Here's where the regional markets stand today:

- Ibovespa up 216.22 (+0.37%) to 59,013.35.

- IPC (Mexico City) up 146.31 (+0.35%) to 40,822.51.

- Santiago Index IPSA up 8.82 (+0.2%) to 4,171.82.

- Merval Buenos Aires up 8.33 (+0.35%) to 2,389.55

In company news, U.S.-listed shares of Brazilian homebuilder Gafisa ( GFA ) are ahead over 8% after the company posted an unexpected Q2 profit today. Net income was 1 million reais, or $497,500, according to a securities filing obtained by Reuters, reversing a 31.8 million reais loss a year earlier.

Five analysts polled by the news service were expecting, on average, a loss of 21 million reais.




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


This article appears in: Investing, Commodities

Referenced Stocks: GFA



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