Latin American markets are mostly lower late Friday, with the
Ibovespa index tracking Brazilian stocks down over 1% and getting
weaker amid rising violence in several cities. More than 1 million
anti-government protestors took to the streets, battling police and
damaging storefronts and government buildings.
President Dilma Rousseff reportedly was meeting with top Cabinet
members today after previously doing little in direct response to
the rioting, seen as the country's most severe demonstrations in
Stocks also remain pressured by the global selloff undercutting
equity and commodities prices since U.S. Federal Reserve Chairman
Ben Bernanke said the central bank could begin to ease back on its
bond-buying stimulus by the end of the year if the U.S. economy
continues to improve. Worries about a possible credit crisis in
China - a key customer for raw goods from the region - also is
pressing on Latin American equities.
Here's where the regional markets stand today:
- Ibovespa was down 622.87. Now down 780.8 (-1.6%) to
- IPC (Mexico City) was up 280.27. Now 194 higher (+0.5%) to
- Santiago Index IPSA was down 4.29. Now up 0.19 to 3,826.6
IN ADR news, U.S.-listed shares of Empresas ICA (
) are up about 2.7% today after the construction company and Grupo
Aeroportuario del Centro Norte (
) last night announced an extension of lock-up period for shares
offered in a recent secondary offering of 82.6 mln OMAB Class B
shares now held by ICA's Aeroinvest subsidiary.
The offering began June 7, with Aeroinvest now agreeing to
extend the lock-up period for the shares to a year, up from the
original 90 days. The offered shares represent a 23.75% stake in
OMAB, a Mexican airport operator.
ICA is retaining a significant controlling interest in OMAB
through its ownership of OMA's Series BB shares. OMAB ADRs are down
about 2.2% this afternoon.
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