Latin American stocks are mixed, but with both Brazil and Mexico
enjoying strong gains and Argentina and Chile slightly lower. For
the most part, resources related stocks are picking up strength
after new data in the United States showed a brisk rise in consumer
positivity as well as a larger-than-expected jump for leading
indicators - raising the prospect of increased demand for Latin
Here's where the regional markets stand today:
- Ibovespa was up 272.25 a short while ago. Now up 256.1 (+0.5%)
- IPC (Mexico City) was up 178.23. Now up 198.55 (+0.5%) to
- Santiago Index IPSA down 7 (-0.2%) to 4,254.2.
- Merval Buenos Aires down 7.1 (-0.10%) to 3,699.6.
State-majority owned Petroleo Brasiliero SA (
), also known as Petrobras, is up about 1% after yesterday
completing an US$11bn multi-tranche bond sale, the largest emerging
markets bond deal ever.
Separately, Chevron (
) is teaming with Argentine energy producer YPF SA (
) to develop the Vaca Muerta shale basin, believed to be the second
largest unconventional oil reservoir in the world. Under terms of
the deal signed yesterday, the American energy major has pledged to
invest $1.5 bln during the initial phase of the project.
U.S.-listed shares of YPF are up about 2.2% today while CVX is
down 0.3% but still at the high end of its year range.
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