Latin American Markets Sliding; Study Finds Non-Performing Loans Rising Sharply in Brazil

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Latin American stocks are falling with declines in metal and energy stocks leading the broader markets lower.

Here's where the regional indices stand this afternoon:

- Ibovespa down 260.96 (-0.49%) to 53,308.19

- IPC (Mexico City) down 182.37 (-0.45%) to 40,039.43

- Santiago Index IPSA down 13.88 (-0.32%) to 4,351.65

- Merval Buenos Aires down 16.60 (-0.70%) to 2,345.36

In economic news, non-performing loans in Brazil rose sharply during the first six months of 2012, raising fresh concerns over the country's growth prospects.

Delinquencies on loans climbed 19.1% over year-ago levels as fast access to credit is meeting with increasingly out-of-control consumer spending, according to a study released this week by credit consultancy Serasa Experian.

In company news, Banco Bilbao Vizcaya Argentaria, SA ( BBVA ) was downgraded to Neutral from Outperform at Credit Suisse. U.S.-listed shares of the Argentine bank are off nearly 3% this afternoon.



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

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This article appears in: Investing , Commodities

Referenced Stocks: BBVA

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