Latin American Markets Mostly Higher; Energy Stocks Weigh on Brazil Index After PetroBras Spill

By Staff,

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The Latin American markets are mostly higher today, although Brazil's Ibovespa Index is solidly lower today following a decline for energy stocks.

Petroleo Brasileiro SA ( PBR ), also known as PetroBras, is down nearly 2% following a weekend spill of ship fuel at its Transpetro logistics terminal. Dense, oily globs of the fuel reportedly are washing ashore in several areas, with The Wall Street Journal quoting a regional environment secretary as saying "there is still oil along the coast, covering rocks, vegetation and mangrove swamps."

Here's where the regional markets stand today:

- Ibovespa down 624.40 (-1.13%) to 54,426.20

- IPC (Mexico City) up 29.81 (+0.07%) to 43,274.06

- Santiago Index IPSA up 22.28 (+0.52%) to 4,293.10

- Merval Buenos Aires up 12.50 (+0.38%) to 3,325.30

In other company news, U.S.-listed shares of GOL Linhas Aereas Inteligentes SA ( GOL ) are up 9.6% to $5.83 apiece, earlier topping out at $6.03 after the discount airliner secured a BRL400 million ($201 million) in new funding from private equity firm General Atlantic.

As part of the deal, General Atlantic has committed to holding its GOL stake for at least nine months and will not be offered or sold in United States.

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

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

This article appears in: Investing Commodities
Referenced Stocks: GOL , PBR

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