Latin American Markets, Supported By Gains Among Energy Firms, Mostly Higher

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Latin American markets are mostly higher today, with shares of energy companies resisting the declines seen in other regions and instead posting moderate gains. Mining stocks are mixed, with shares of non-precious metal producers outperforming their counterparts, likely because of positive housing data again coming out of the United States today auguring for future demand for building materials. Airline stocks also are higher today.

Here's where the regional markets stand today:

- Ibovespa up 1,048.53 (+1.89%) to 56,450.86.

- IPC (Mexico City) up 278.62 (+0.68%) to 41,109.22.

- Santiago Index IPSA down 13.29 (-0.3%) to 4,178.57.

- Merval Buenos Aires up 0.90 (+0.04%) to 2,297.65.

In company news, Spanish oil major Repsol is suing Chevron Corp ( CVX ), making good on its threat to challenge partners of YPF Sociedad Anonima ( YPF ) after the Argentina government earlier this year seized majority control of the state-owned exploration and production company from Respol.

A company spokesperson said that "Repsol will continue to take all legal action necessary to protect its interests."

CVX shares are down about 0.6% this afternoon while YPF is up nearly 2% at $10.30 per ADR.



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: CVX , YPF

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