Latin American Markets Start Quarter Lower; Argentine Market Gauge Falls For Fourth Day in Five


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 44,029.

- 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 ( BRF ) 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.

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 All rights reserved. Unauthorized reproduction is strictly prohibited.

This article appears in: Investing , Commodities

Referenced Stocks: BRF

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