Latin American Markets Mixed; Energy, Mining Shares Posting Gains on Stimulus Hopes

By Staff,

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Latin American markets are mixed today, with Brazil's Ibovespa index holding on to an advance of more than 1%, supported by gains for shares of energy and mining companies, in part, on hopes of stimulus measures by central bankers in the United States and China - the world's two largest users of raw goods.

Here's where the regional market gauges stood this afternoon:

- Ibovespa up 741.76 (+1.36%) to 55,324.8906

- IPC (Mexico City) down 131.86 (-0.32%) to 40,615.61

- Santiago Index IPSA down 18.75 (-0.43%) to 4,387.64

- Merval Buenos Aires up 24.75 (+0.99%) to 2,521.42

In company news, U.S.-listed shares of TIM Participacoes ( TSU ) are down over 9% today after the Brazilian mobile telecom services provider said regulators in that country have blocked the sale of new lines in 19 states "in a disproportional way".

The company said Anatel's decision was apparently based on data and indicators different from its usual criteria to track the performance of the network. Despite the setback, TSU said it is continuing to develop a set of infrastructure projects to provide innovative services to customers as well as working on equipment upgrades.

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

Copyright (C) 2014 All rights reserved. Unauthorized reproduction is strictly prohibited.

This article appears in: Investing Commodities
Referenced Stocks: TSU

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