Latin American markets are mostly lower, matching declines
elsewhere across the globe. The Brazilian bourse is down for the
first session in three, pulled under by a decline for Petroleo
), also known as Petrobras, with the state-owned gas and oil
company slated to report its Q4 results later tonight.
U.S.-listed PBR shares are down about 3% to near $18 apiece and
nearer 52 week lows this afternoon with analysts, on average,
expecting the company to report a $0.56 per share profit, up from a
$0.44 gain during the final three months of 2011. Revenue is seen
rising about 14% over year-ago levels to around $41.31 billion.
Despite that expected top- and bottom-line advance, many
analysts are worried PBR's sales and profit will fail to keep pace
with growing cash-flow and debt problems brought on by soaring
costs, rising imports and fuel subsidies.
Here's where the regional markets stand today:
- Ibovespa down around 1,000 points (-1.65%) to 59,353.3.
- IPC (Mexico City) up 490.43 (+1.08%) to 45,768.49.
- Santiago Index IPSA down 16.2 (-0.4%) to 3,921.45.
- Merval Buenos Aires down 97.8 (-2.8%) to 3,433.6
In other company news, Companhia de Saneamento Basico do Estado
de Sao Paulo (
) is up 2% and has hit 52 week highs after Bank of America Merrill
Lynch today reiterated its call as a top pick among Latin America
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