Latin American markets are mixed today, with the Ibovespa index
swinging pretty wildly between gains and losses nearing the end of
a shortened session.
On the Mexican IPC index, America Movil S.A.B. de C.V. (
), Latin America's largest telecom company, is down 9% and has hit
52 week lows following its Q4 results. Also, the country's central
bank governor reiterated a threat to cut interest rates as
industrial output fell to its lowest in nearly four years.
Markets in Brazil and Argentina were closed through mid-day for
the annual Carnival celebration.
Here's where the regional markets stand today:
- Ibovespa was down 64.10 points a short while ago. Now up 62.5
points (+0.11%) to 58,560.
- IPC (Mexico City) down 693.99 (-1.5%) to 44,182.2.
- Santiago Index IPSA up 17.3 (+0.4%) to 3,980.5.
- Merval Buenos Aires up 13.3 (+0.4%) to 3,293.3.
U.S.-listed AMX, the telecom firm owned by Carlos Slim, last
night said its profit slid to 14.962 billion pesos, or about $1.16
billion, during its latest quarter, down from a 16.307 billion peso
in net income in the year ago quarter and trailing analyst
forecasts expecting a 24.131 billion peso gain. Also today, Bank of
America Merrill Lynch downgraded the stock to Neutral from Buy.
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