Latin American Markets Mostly Higher

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Latin American markets are mostly higher in late Friday trade although declines for soft-drink bottler Fomento Econ ( FMX ) and America Movil ( AMX ) 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%) to 53,444.9.

- 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.



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.

Copyright (C) 2014 MTNewswires.com. All rights reserved. Unauthorized reproduction is strictly prohibited.


This article appears in: Investing , Commodities

Referenced Stocks: AMX , FMX

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