Latin American Stocks Largely Flat Late Tuesday; Brazilian Market Bouncing Back From Monday Drubbing


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Latin American markets are largely unchanged late Tuesday although the Ibovespa Index tracking Brazilian equities is up more than 2% today, bouncing back from Monday declines triggered by regulators agreeing to renew utility licenses starting in 2015 - but only in exchange for big rate cuts for customers.

Gold stocks are helping lead the gains for Brazilian stocks, following a 2% rise in bullion prices today in commdoties trading.

Here's where the Latin American markets stand today:

- Ibovespa up 1,240.17 (+2.13%) to 59,449.92

- IPC (Mexico City) down 22.14 (-0.05%) to 41,700.00

- Santiago Index IPSA up 3.23 (+0.08%) to 4,269.58

- Merval Buenos Aires up -0.28 (-0.01%) to 2,394.85

In company news, shares of Bancolombia SA ( CIB ), Colombia's largest bank, are up about 0.3% at $63.57 a share following a Bloomberg report today it will assume control of Interbolsa SA's local peso bond operations.

Regulators last week moved to take control of Interbolsa - the nation's largest stock brokerage firm - after warning it was suffering from liquidity problems.

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

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