Latin American Stock Markets Losing Ground Late Afternoon Tuesday

By Staff,

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The Latin American markets are losing ground late afternoon. For example, Brazilian stocks have lost most of their earlier gains and are, in fact, in danger of losing them all. Declines elsewhere throughout the region are increasing. Here's where the regional markets stand today:

- Ibovespa was up 241.25 points. Now up around 41 points to near 56,770.

- IPC (Mexico City) was down 28.80. Now down 77 points to near 41,795.

- Santiago Index IPSA was down 5.17. Now down 10.4 to near 4,126.30.

- Merval Buenos Aires down 5.63 (-0.24%) to 2,334.29.

In company news, ADS of Cemex ( CX ) are down about 0.8% after Mexico's largest cement maker said it sees its U.S. operations growing though 2016.

Karl Watson, president of Cemex USA operations, told analysts during an investor presentation today in San Antonio, Texas, the company expects U.S. housing starts to rise 16% next year, reaching 873,000. Cement demand is seen growing 14% in 2013, he said.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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

This article appears in: Investing Commodities
Referenced Stocks: CX

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