Latin American markets are mixed with Brazil's Ibovespa index
much higher for a second day while the main gauge for stocks in
Mexico is well lower as the trading day in this region comes near
to an end.
Brazil's central bank late yesterday signaled it is ready to
fight inflation with tigher monetary policies, removing a pledge in
its statement to keep rates unchanged at 7.25% for a "prolonged
period," now instead saying it "will
monitor the evolution of the macroeconomic scenario until
next meeting, when it will define the next steps in its
Here's where the regional markets stand today:
- Ibovespa up 1,090 (+1.9%) to 59,042.5.
- IPC (Mexico City) down 108.35 (-0.25%) to 44,043.
- Santiago Index IPSA down 18.28 (-0.4%) to 4,500.88.
- Merval Buenos Aires up 55.20 (+1.71%) to 3,288.73
In company news, Petroleo Brazileiro SA (
), also known as Petrobras, is up nearly 6% after a Credit Suisse
upgrade today of its American Depository Receipts to Outperform
from Neutral. The state-owned energy company late Monday announced
a 5% rise in the wholesale price of diesel, Brazil's most used
Also, analysts at Miller Tabak have downgraded Chemical &
Mining Co. of Chile Inc. (
) to Hold from Buy. The company yesterday reported Q4 earnings of
$0.54 per share, down from a $0.60 profit in the year-ago quarter
and trailing analyst forecasts by $0.05. Revenue climbed 12% year
over year to $601 mln, topping estimates.
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