Latin American markets are mostly higher in late trading
Wednesday although the Brazilian Ibovespa is down after the World
Bank trimmed its view for global growth during 2013. It should be
noted the Brazilian market has recovered a significant amount of
its losses in recent minutes.
The World Bank said it sees global domestic product rising 2.4%
this year, up from 2.3% growth in 2012 and down from its prior
forecast projecting as much as 3.0% growth in 2013. Advanced
economies are seen having the weakest growth, spilling over into
developing markets by lowering demand for raw goods.
Here's where the regional markets stand today:
- Ibovespa was down 366.55 a little while ago. Now down around
288 (-0.5%) to 61,439.5.
- IPC (Mexico City) was up 79.01. Now Up around 60 (+0.1%) to
- Santiago Index IPSA was up 5.48. Now up 9.5 (+0.3%) to
- Merval Buenos Aires up 26.67 (+0.9%) to 3,110.
In company news, aircraft manufacturer Embraer SA (
) is slightly lower, with U.S.-listed shares slipping about 0.7% to
just above $28 each. This comes as Zacks Equity Research late
yesterday downgraded the stock to Underperform, citing its loss of
a major contract with Delta Airlines two months ago.
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