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 (
) climbing nearly 2% today while U.S.-listed shares of Petroleo
Brasileiro SA (
), 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 (
), 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. (
), 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
- Santiago Index IPSA was down 43.91. Now 56.25 (-1.3%) to
- Merval Buenos Aires up 5.99 (+0.18%) to 3,303.1.
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