Latin American markets are lower today, moving with global
markets after Japan stepped up with an aggressive quantative easing
program and European financial officials also pledged to maintain a
cheap money policy. This was tempered by an unexpected rise in new
jobless claims in the U.S.
Losses for Brazil's Ibovespa index are more pronounced than
those for its peers elsewhere throughout the region, with more than
two-thirds of its component stocks trading lower today. OGX
Petroleo (OGXP3.SA) is posting the steepest decline, falling nearly
5% after the Wall Street Journal reported it is in talks to sell
some of its oil fields and exploration blocks, citing a person
familiar with the situation.
Here's where the regional markets stand today:
- Ibovespa was down 770.74 a short while ago. Now down 686.54
(-1.2%) to 54,876.2.
- IPC (Mexico City) was down 180.58. Now down 230 (-0.54%) to
- Santiago Index IPSA down 13.79 (-0.34%) to 4,332.57.
- Merval Buenos Aires down 6.78 (-0.3%) to 3,297.53.
In other individual company news, U.S.-listed shares of Cia
Energetica de Minas Gerais (
) are flat at $11.54 apiece with the Brazilian electricity producer
last night reporting a 195% year over year rise in its Q4 earnings
to R$2.1 bln ($1.02 bln). On a per-share basis, CIG earned $2.75
Revenue rose 18% over the year-ago period, climbing to R$2.19
bln ($2.47 bln). No analyst estimates are available for
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