Latin American Markets Sliding With Weaker-Than-Expected U.S. Job Growth

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The Latin American markets are mostly lower late Friday, tracking south in line with declines in the North American markets after a weaker-than-expected U.S. March jobs report reignited fears that growth in the economy there is slowing again. Argentina's Merval index is the exception, edging almost 0.2% higher today, snapping a three-day slide extending back to March 27.

Energy companies are keeping the Merval index in positive territory, with YPF SA ( YPF ) climbing nearly 2% today while U.S.-listed shares of Petroleo Brasileiro SA ( PBR ), the Brazilian state-owned gas and oil company that also trades in Argentina, are up close to 1%. In perhaps an odd quirk, however, PetroBras Argentina ( PZE ), PBR's Argentine affiliate, is down almost 1% today.

One of the day's best performers in recent days has been Alto Palermo S.A. ( APSA ), with American Depository Shares of the Argentine shopping center property manager climbing over 7% to $15.30 each yesterday. Heading in the opposite direction are ADS of Gol Linhas, the Brazilian discount airliner, falling more than 3% today.

Here's where the regional markets stand today:

- Ibovespa was down 177.46 a short while ago. Now down 204.6 (-0.37%) to 54,443.5.

- IPC (Mexico City) was down 508.26. Now down 496.6 (-1.14%) to 43,070.

- Santiago Index IPSA was down 43.91. Now 56.25 (-1.3%) to 4,271.

- Merval Buenos Aires up 5.99 (+0.18%) to 3,303.1.



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.

Copyright (C) 2014 MTNewswires.com. All rights reserved. Unauthorized reproduction is strictly prohibited.


This article appears in: Investing , Commodities

Referenced Stocks: APSA , PBR , PZE , YPF

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