Latin American markets are mostly lower today, with Mexico's IPC
index the lone winner among the regional market gauges.
Here's where the regional markets stand today:
- Ibovespa was down 323.79. Now down 287.45 (-0.3%) to
- IPC (Mexico City) up 395.7 (+1%) to 40,628.4.
- Santiago Index IPSA down 49.8 (-1.2%) to 4,069.45.
- Merval Buenos Aires down 44.9 (-1.3%) to 3,404.8.
The Ibovespa index tracking Brazilian stocks is down for the
third day in four - albeit paring some losses, which come despite
an 8.6% rise today for Marfrig Alimentos SA (MRFG3.SA), with shares
of the meat processor soaring on reports the company is close to
selling its Seara Brasil poultry unit to larger rival JBS SA.
The transaction could be worth as much as $3 bln in cash and
assumed debt, a source close to the negotiations told Reuters late
yesterday. The deal is seen benefitting both firms, helping
MRFG3.SA reduce a $6.1 billion debt burden built up during a recent
acquisition spree of smaller rivals while JBSS3.SA - Brazil's
largest beef processor - further expanding its poultry and pork
JBSS3.SA shares are down 6.7% this afternoon.
IN ADR news, Reuters also is reporting today that six
"high-level sources" inside and outside of the company are saying
Brazil's state-owned energy company Petrobras (
) is looking to exit Peru, continuing its efforts to shed its
foreign assets so it can better focus on its operations.
The sources did not say how much PBR is looking to fetch from
the sale of its two natural-gas fields in Peru although the company
previously has said it expects to net about $9 bln from its global
U.S.-listed PBR shares are now down about 0.4% at near $16.50
apiece, giving back a small rise as high as $16.74 earlier
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