Latin American markets are mostly higher in late Wednesday
trade, with Brazil's Ibovespa index a standout having risen close
to 2%, its fourth straight advance, supported by strong Chinese
trade data and slower than expected domestic inflation figures last
ADRs of state-run oil company Petroleo Brasileiro SA (
), also known as Petrobras, was up the best part of 3%. But
iron-ore miner Vale SA (
), which counts China as its biggest customer, has turned
Brazilian inflation as measured by the benchmark IPCA index
climbed 0.47% during March, trailing the median estimate of 38
economists surveyed by Bloomberg looking for a 0.50% increase. The
smaller-than-expected rise in prices could ease pressure on central
bankers to raise interest rates next week despite inflation
accelerating to a 6.59% pace during the 12 months through March, up
from a 6.31% pace during February.
Here's where the regional markets stand today:
- Ibovespa was up 976.5 a short while ago. Now up 860 (+1.5%) to
- IPC (Mexico City) up 426.07 (+1%) to 44,407.
- Santiago Index IPSA was up 14.65. Now up 11.7 (+0.3%) to
- Merval Buenos Aires down 20.8 (-0.55%) to 3,455.53.
In regional news, shares of Barrick Gold (
) are down near 7%, still near its new 52-week low of $24.81 set
earlier today after a court in Chile today suspended its Pascua
Lama mine after indigenous communities complained that the project
is threatening their water supply and polluting glaciers. The court
in the northern city of Copiapo charged ABX with environmental
irregularities during construction of the world's highest-altitude
gold and silver mine.
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