Latin American Markets Mostly Lower; Brazil's Ibovespa Index Paring Losses In Late-Day Trade

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Latin American markets are mostly lower late Monday, with shares of Brazilian stocks now down less than 100 points, paring most of an 400-point loss earlier today after again stalling short of its 54,000 technical barrier. Shares of financial companies, including a 1% decline for Itau Unibanco Holding S.A. ( ITUB ), were getting caught up in the sell-off as traders apparently take advantage of recent advances for profit-taking.

But state-owned energy giant Petroleo Brasileiro SA ( PBR ), also known as PetroBras, has reversed its early decline and is now up about 0.9% this afternoon. Other energy and mining stocks also are higher today as commodity prices rebound today.

Here's where the regional markets stand this afternoon:

- Ibovespa was down 89.34. Now down 76.32 (-0.14%) to 53,852.

- IPC (Mexico City) has lost earlier gains and is now down 55.05 points (0.13%) at 42,752.

- Santiago Index IPSA now down 3.42 (-0.1%) to 4,303.5.

- Merval Buenos Aires up 21.1 (+0.6%) to 3,465.6.

In other company news, U.S.-listed shares of Grupo Aeroportuario del Sureste ( ASR ) are down 6.5% with the Mexican airport operator today saying its Q1 passenger traffic rose 8.53% year over year.

Total revenues increased by 6.88%, including a 7.22% rise in aeronautical revenues and 7.75% in non-aeronautical revenues. Construction services revenues fell 0.1%. Commercial revenues per passenger declined by 0.54% to Ps.74.24, or about $5.87 per passenger mile.



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.

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This article appears in: Investing , Commodities

Referenced Stocks: ASR , ITUB , PBR

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