Latin American markets are mostly higher today, supported by a
rise for mining stocks after Brazilian iron-ore miner Vale SA (
) raised its profit forecast. VALE ADRs are up more than 3%
Vale shares turned around after a lower open as the company late
last night posted its first quarterly loss in 10 years late
Wednesday, rebounding after the firm said it expects higher iron
ore prices and gold production to bring
profit this year.
In contrast, we note today a 7% decline for shares of
state-controlled oil company Petroleo Brasileiro SA (
), also known as Petrobras.
Here's where the regional markets stand today:
- Ibovespa was up 235.34 a short while ago. Now up 343.16
(+0.6%) to 57,627.5.
- IPC (Mexico City) was up 149.53. Now up 164.85 (+0.38%) to
- Santiago Index IPSA up 13.93 (+0.4%) to 3,912.4.
- Merval Buenos Aires down 98.91 (-3.1%) to 3,060.
In other company news, U.S.-listed shares of Embraer SA (
) are up about 0.25% near $34, but off a day high $34.57 - compared
to a 52 week high $35.55 - after the U.S. Air Force today selected
the Embraer A-29 Super Tucano for its Light Air Support program.
The aircraft will be supplied in partnership with Sierra Nevada
Corp (SNC) as the prime contractor, and will be used to conduct
advanced flight training, aerial reconnaissance, and light air
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