The Latin American markets were lower today, including a 1.1%
decline for the Merval Index tracking Argentine stocks, its fourth
decline in five sessions. However, there was some late buying
across the region to cap losses and give some reason for hope -
albeit small - that the markets might find some upward momentum
either tomorrow or later in the week.
Here's where the regional markets stand today:
- Ibovespa was down 359.97. Now down 200 (-0.35%) to 56,150.
- IPC (Mexico City) was down 51.92. Now 43.5 (-0.11%) to
- Santiago Index IPSA down 13.60 (-0.31%) t 4,418.54
- Merval Buenos Aires down 36.54 (-1.07%) to 3,380.78
In company news, U.S.-listed shares of Brazil Food (
) are down 0.15% this afternoon after analysts at Goldman Sachs
today began coverage of the consumer-staples firm with a Buy rating
and placed the stock on Goldman's Focus List.
In a new note obtained by Barron's, the research team said BRF
is "on the verge of a critical turn in profitability, and
potentially, strategic development." The Goldman analysts also
wrote they are expecting margins to rebound this year following
recent asset disposals and category suspensions as well as seeing a
"significant" rise in profitability and returns as BRF adds to its
exposure in the processed foods category.
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