Latin American markets are higher today, overcoming a surprise
0.5% drop in Brazilian retail sales during December, according to
government data today. Instead, traders appear to be buoyed by a
new report showing German investor sentiment rising to a three-year
The data boosted appetite for shares of commodities firms, whose
performance is often linked to global economic growth
Energy stocks are broadly higher, including a near 7% rise for
U.S.-listed shares of Braskem SA (
), the region's largest petrochemical firm, after Credit Suisse
analysts raised the stock to Outperform from Neutral, citing
potential tax benefits for naphtha purchases and possible import
tax hikes on polypropylene.
Here's where the regional markets stand today:
- Ibovespa was up 217.95 a short while ago. Now up 199.33
(+0.35%) to 57,813.2.
- IPC (Mexico City) up 444.26 (+1%) to 44,587.
- Santiago Index IPSA up 6.45 (+0.16%) to 3,970.95.
- Merval Buenos Aires up 7.68 (+0.2%) to 3,271.68.
In company news, ADRs of Bancolombia S.A. (
) is down slightly more than 3%with the Columbian bank today
announcing a deal to acquire HSBC Bank SA Panama for $2.1 billion.
The acquisition includes HSBC Panama's brokerage, fiduciary
services unit, banking business and its insurance company,
Bancolombia said in a regulatory filing obtained by Reuters.
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