Latin American Markets Mostly Lower in Light Volume Ahead of 3-Day Holiday; Embraer Flying High

By Staff,

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Latin American markets are mostly lower with Chile's bourse falling the most in more than two months. Trading volume reportedly was very light ahead of a regional holiday that will close most of the markets tomorrow.

Brazil's Ibovespa continues to succumb to technical resistance trying to break through its 62,000 mark, today again retreating after a week-long bid to crack that barrier.

Here's where the regional markets stand today:

- Ibovespa was down 198.26. Now down 453 (-0.7%) to 61,513.2.

- IPC (Mexico City) was down 58.56. Now down 126 (-0.3%) to 45,317.

- Santiago Index IPSA down 40.17 (-1%) to 3,863.78.

- Merval Buenos Aires up 5.32 (+0.2%) to 3,306.2.

In company news, ADRs of Embraer SA ( ERJ ) are up more than 8% at around $30.90 but $1 off day highs after the aircraft company clinched a deal worth up to $4 billion to supply larger regional jets for American Airlines' regional network. The deal calls on ERJ to supply Republic Airways Holdings Inc with 47 of its E-175 jets, with an option to acquire an additional 47 aircraft. The new aircraft will be operated by Republic under AMR Corp's American Eagle brand.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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

This article appears in: Investing Commodities
Referenced Stocks: ERJ

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