Latin American Markets Mostly Lower, But Mexico Up; Pulled Under By Energy, Mining Stocks

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Latin American markets are mostly lower late Friday, undercut by declines for resource stocks, with declines for both crude oil and metals in the global commodities market. Also, there is uncertainty about whether or not finance ministers and central bankers gathered for Group of 20 discussions starting today in Moscow can agree on steps to defuse a stimmering currency battle.

Here's where the regional markets stand today:

- Ibovespa was down 111.84 a short while ago. Now down 166.8 (-0.29%) to 57,910.5.

- IPC (Mexico City) was up 219.62 a short while ago. Now up 246.7 (+0.6%) to 44,125.

- Santiago Index IPSA down 6.94 (-0.17%) to 3,968.51

- Merval Buenos Aires down 3.66 (-0.11%) to 3,300.13

In company news, ADRs of Grupo Financiero Galicia S.A. ( GGAL ) are down 2% with the Argentine banking conglomerate reporting net profit of $368.2 mln pesos, or about $74.8 million, up from 355.3 mln pesos in the year-ago quarter but falling short of the 373-peso median forecast of analysts polled by Thomson Reuters. Net profit for 2012 rose nearly 21% over the prior year to 1.34 bln pesos.



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: GGAL

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