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


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.

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

This article appears in: Investing , Commodities

Referenced Stocks: ASR , ITUB , PBR

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