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
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 (
) and Alto Palermo S.A. (
) are helping pace the narrow advance, overcoming a 5% slide for
Ternium S.A. (
) 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 (
) 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%.
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