Latin American Markets Mixed; Little Impact from Costa Rica Earthquake


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Latin American markets are mixed today with small declines by energy stocks mostly offsetting gains for shares of most mining companies. Financial stocks are mixed.

Regional markets appear little affected by a magnitude-7.6 earthquake that shook Costa Rica earlier today, with the U.S. Geological Survey saying the 8:42 a.m. MT quake struck about 140 kilometers west of the capital, San Jose. There were no immediate reports of deaths or injuries although schools near the epicenter reported some damage, according to the Associated Press.

Here's where the Latin American markets stand this afternoon:

- Ibovespa up 364.02 (+0.65%) to 56,597.92

- IPC (Mexico City) up 61.56 (+0.15%) to 39,608.

- Santiago Index IPSA down 6.88 (-0.17%) to 4,111.6.

- Merval Buenos Aires down 1.90 (-0.08%) to 2,377.40.

In company news, Vale SA ( VALE ) ADRs are up 1.5% today in moving away from near year lows as Sanford C. Bernstein initiated coverage of the South American miner with an underperform rating on the stock and set a $12.30 price target.

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: VALE

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