Latin American Markets Mixed; Brazilian Stocks Sink On S&P Downgrade, Rising Inflation

By Staff,

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Latin American markets are mixed today, with Mexico's IPC index rising for a second day and trimming its loss for the week in half. At 1.15pm ET, it was up 350 points or 0.9%.

Brazilian stocks have continued their recent slide today - down around 730 points or 1.4% - after Standard and Poor's lowered its outlook for the country to negative from stable, citing weak economic growth and a eroding fiscal stance. Shares also were being pressured after the country's IBGE statistics institute said Brazil's consumer price index remained at the top of the country's 6.5% inflation targeting band during May.

In ADR news, U.S.-listed shares of Grupo Aeroportuario del Centro Norte SAB de CV ( OMAB ) are up 5.7% to $27.97 after the Mexican airports operator last night reported a 4.9% year over year rise in terminal passenger traffic at its 13 airports last month. Domestic traffic increased 4.6% during May while international traffic climbed 6.7%, OMAB said.

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

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This article appears in: Investing Commodities
Referenced Stocks: OMAB

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