Latin American markets are mostly higher in late Friday trade
although declines for soft-drink bottler Fomento Econ (
) and America Movil (
) are keeping a cap on the Mexican IPC Index, which has struggled
in the last couple of days. Brazil's Ibovespa Index is up for a
second day, carried by gains for home-builders and a rebound for
banking stocks, while Argentine stocks are posting their first
gains in three days.
Here's where the regional markets stand today:
- Ibovespa was up 234.20 a short while ago. Now up 279 (+0.5%)
- IPC (Mexico City) up 34.5 (+0.1%) to 42,490.3.
- Santiago Index IPSA up 13.77 (+0.3%) to 4,289.4.
- Merval Buenos Aires up 48.70 (+1.4%) to 3,462.5
In company news, U.S-listed AMX shares are off about 2% after
the region's largest telecom company reported a weaker quarterly
profit and Mexico's senate approved a bill to increase competition
in the country's phone and television markets.
AMX earned 26.87 billion pesos ($2.18 billion) in Q1, down from
32.53 billion pesos during the same quarter last year but beating
analyst forecasts looking for a quarterly gain of 24.46 billion
pesos. Revenue rose less than 1% to 192.96 billion pesos.
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