Referenced Stocks

Latin American Markets Mixed To Lower; No Imminent Action From Fed Weighing

By Midnight Trader,  August 31, 2012, 01:10:11 PM EDT

Latin American markets are mixed to lower today with shares in Brazil continuing their downward trend while issues listed on the Mexican exchange have lost earlier gains and turned negative. Energy, mining, financial and industrial stocks throughout the region were broadly higher, rising on expectations of future economic growth after U.S. Federal Reserve Chairman Ben Bernanke signaled the central bank is open to additional bond-buying to cut persistent joblessness. But the fact that no Fed move is imminent may be weighing on the overall market

Here's where the regional markets stand this afternoon:

- Ibovespa down 77.72 (-0.14%) to 57,178.71.

- IPC (Mexico City) was positive, now down 15.45 (-0.04%) to 39,870.

- Santiago Index IPSA up 7.21 (+0.17%) to 4,132.67.

- Merval Buenos Aires down 2.29 (-0.09%) to 2,4231.74.

In company news, Brazilian miner Vale SA ( VALE ) is up about 2% today and moving away from near year lows on plans to sell 10 large iron ore carriers to Polaris Shipping Co Ltd. in a $600 million lease-back transaction, according to regulatory documents obtained by Reuters.

The world's second largest mining company acquired the vessels three years ago as part of efforts to build its fleet of ore carriers and limit its exposure to uncertainty in the global shipping market.




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


This article appears in: Investing, Commodities

Referenced Stocks: VALE



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