The Latin American markets are mixed, with Brazil's Ibovespa
down and weakening further in late trade Wednesday. Market gauges
for Mexican and Chilean stocks are getting a little stronger while
Buenos Aires has turned positive.
Here's where the regional markets stand today:
- Ibovespa was down 678.58. Now down 720 (-1.2%) to 59,686.
- IPC (Mexico City) was up 6.28. Now up 33.7 (+0.1%) to
- Santiago Index IPSA was up 3.80. Now 15 higher (+0.4%) to
- Merval Buenos Aires was down 30.89. Now up 7.9 (+0.2%) to
U.S.-listed shares of Petrobras Brasileiro (
) are down near 5% after the state-owned energy company from Brazil
raised the price of gasoline by 6.6% and boosted the price of
diesel fuel by 5.4%, effective at midnight today, according to a
U.S. regulatory filing this morning. The price hikes were less than
many traders were expecting, according to Credit Suisse, leaving
PBR's gasoline prices 13% below the international average.
Also, ADRs of Gol Linhas Aereas Inteligentes SA (
) are down about 3% to near $7.40 each after earlier tumbling to as
low as $7.05 as a local news magazine's website reported the
government could reallocate slots at Sao Paulo's Congonhas airport
and impose a price ceiling on flights from the airport.
Press representatives from Brazil's civil aviation agency
confirmed it is reviewing the distribution of slots, but said any
changes would first need to go through a public hearing. The agency
denied any knowledge of a plan to impose limits on fares, according