The Latin American markets are lower, but mostly off day lows
today as rising prospects of an all-out war in the Middle East
overshadowed hints of progress by U.S. officials will avoid large
spending cuts and tax hikes set to begin early next year.
Here's where the regional markets stand this afternoon:
- Ibovespa has recouped some ground but still down 646.05
(-1.15%) to 55,633.3.
- Ditto for IPC (Mexico City), now down 27.57 (-0.07%) to
- Santiago Index IPSA down 1.66 (-0.04%) to 4,185.4.
- Merval Buenos Aires down 30.94 (-1.3%) to 2,291.3.
In company news, Telefonica (
) ADRs are down fractionally as the telecom company with operations
through Latin America today refuted rumors it will soon sell its
stake in Telecom Italia (
) to the Egyptian tycoon Naguib Sawiris.
TI ADRs are down 4.5% today.
During an investor conference hosted by Morgan Stanley, Angel
Vila, the TEF chief financial officer said TI did not require
additional capital, adding, "We are stable investors in Telecom
Italia and we are not considering monetizing the stake in