Latin American Markets Mostly Lower; Brazil Extending Losses, Argentina Holding On To Gains

By
A A A

Latin American markets are mostly lower late Wednesday, with declines for Brazilian shares extending while the IPSA Index for Peruvian stocks is down over 1%, reversing two days of smaller gains.

The Merval Buenos Aires Index is up about 0.15% in mid-day trade, snapping a five-day slide. Financial stocks, including Grupo Financiero Galicia S.A ( GGAL ) and Alto Palermo S.A. ( APSA ) are helping pace the narrow advance, overcoming a 5% slide for Ternium S.A. ( TX ) after the steel-maker posted a surprise Q4 loss after writing down its investment in a Brazilian steel company.

Here's where the regional markets stand today:

- Ibovespa was down 167.38. Now down 366 (-0.6%) to 56,948.

- IPC (Mexico City) down 193.87 (-0.4%) to 44,445.6.

- Santiago Index IPSA down 57.45 (-1.2%) to 4,545.40.

- Merval Buenos Aires up 4.77 (+0.15%) to 3,268.77.

In other company news, U.S.-listed shares of CorpBanca ( BCA ) are down 1.5% after the Chilean bank said it raised more than $620 mln in new capital by selling over 46.5 mln shares of its common stock priced at Ch$6.25 apiece. Another 500,000 shares sold for Ch$6.87 each.

About 26% of the shares were sold outside of Chile, the bank said. International Finance Corp - part of the World Bank Group - purchased just under 17 mln shares for about US$225 million. Santo Domingo Group also increased its ownership in BCA to 2.9%.



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: APSA , BCA , GGAL , TX

MT Newswires

MT Newswires

More from MT Newswires:

Related Videos

Stocks

Referenced

Most Active by Volume

111,864,163
  • $3.91 ▲ 2.36%
76,404,746
  • $7.37 ▼ 5.03%
66,680,057
  • $15.25 ▼ 2.12%
61,293,760
  • $30.55 ▼ 6.09%
56,394,825
    $23 unch
55,005,642
  • $95.60 ▼ 2.60%
47,372,853
  • $95.02 ▼ 2.02%
44,783,481
  • $45.19 ▼ 2.40%
As of 7/31/2014, 04:07 PM