Latin American markets are mostly lower in late Tuesday trading,
following declines in the U.S. where stocks have put the pause
button on gains after a seven-day surge that brought the Dow
Industrials Average to new records and the S&P 500 within 12
points of its all-time high.
Banks and other financial stocks are the biggest drags on
regional trade, undercutting a rally among mining issues today.
Energy stocks are mixed.
Here's where the regional markets stand today:
- Ibovespa was down 210.48. Now down 340.8 (-0.58%) to
- IPC (Mexico City) down 159.83 (-0.36%) to 43,853.47
- Santiago Index IPSA down 19.17 (-0.42%) to 4,508.12
- Merval Buenos Aires up 17.04 (+0.51%) to 3,376.83
Among individual companies, American Depository Shares of YPF SA
) are up about 3.6% today, helping lift Argentina's Merval index
into the black after the state-controlled energy company last night
said earnings before interest, taxes, depreciation and
amortization, or EBITDA, rose 21.3% last year to 18.1 bln pesos, or
about $3.57 bln.
Total revenue also rose 19.5% year over year to 67.2 bln pesos
($13.25 bln), largely due to higher gasoline, diesel and fuel oil
sales in its local markets. YPF last year earned about 3.9 bln
pesos, or about $771 mln, in net income, down 12.2% from FY11
Copyright (C) 2013 MTNewswires.com. All rights reserved. Unauthorized reproduction is strictly prohibited.