Latin American markets are mixed. A 1.5% decline for the Merval
index tracking stocks trading on the Buenos Aires exchange
represents the biggest percentage change for any one market.
However, the market in Brazil is back in positive territory after
losing strong early gains and being under water for most of the
Here's where the regional markets stand today:
- Ibovespa now up 40.7 points (+0.01%) to 53,985.1.
- IPC (Mexico City) was down 134.63. Now down 167.79 (-0.4%) to
- Santiago Index IPSA up 5.12 (+0.12%) to 4,172.33.
- Merval Buenos Aires down 57.32 (-1.6%) to 3,428.65.
Resource stocks are leading the Argentine market lower, with
aluminum miner Aluar Aluminio Argentino SAIC (ALUA.BA) falling over
4% while Brazilian energy giant Petroleo Brasileiro
(APBR.BA,PETR3.SA,PBR), better known as PetroBras and which also
trades on the Merval index, was down about 3.4%. Shares of YPF SA
(YPFD.BA,YPF), the state-controlled energy company, were down about
In other company news, Brazilian telecom Grupo Oi (OIBR4.SA) was
up as much as 19.7% today after naming former Portugal Telecom CEO
Zeinal Bava as its new chief executive officer. He replaces Jose
Mettrau Carneiro da Cunha, who will return to his previous position
as board chairman, according to a securities filing today obtained
Oi SA American Depository shares (
) currently are up 17.5%.
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