Latin American stocks are mostly higher today, even though
energy and mining stocks are lower despite the underlying
commodities rising for the first time in two days. Financial stocks
are mixed, perhaps showing a slight bias to the upside as traders
turn aside euro-zone worries after a meeting of European finance
and government leaders concluded last night without any fresh signs
of a Greek exit from the common currency.
Here's where the major regional market gauges stand this
Ibovespa down 1,036.55 (-1.90%) to 53,582.92
IPC (Mexico City) up 177.94 (+0.48%) to 37,600.32
Santiago Index IPSA up 36.27 (+0.86%) to 4,237.72
Merval Buenos Aires up 7.00 (+0.31%) to 2,295.60
In company news, Spanish oil firm Repsol today confirmed a large
oil and gas find off Brazil. The company, in partnership with
China's Sinopec (
), Norway's Statoil (
) and Brazil's Petrobras (
), said the discovery in the Campos basin could hold over 1.2
billion barrels of oil equivalent, a figure that equals more than
Brazil's expected total oil output for this year.
The firms did not detail development plans but Statoil
exploration chief Tim Dodson told Reuters that production was
unlikely to start before 2020.
Also, General Mills Inc. (
) said today it will pay an undisclosed sum to acquire Yoki
Alimentos S.A., a privately-held food company with 5,000 employees
based in Sao Bernardo do Compo, Brazil.
General Mills expects the deal to close during the first half of
its 2013 fiscal year, adding the acquisition will more than double
its annual sales in Latin America to nearly $1 billion.
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