Latin American stocks are mixed Tuesday, as positive data on
U.S. home sales was overshadowed by weaker-than-expected retail
sales in Mexico. Energy and material stocks are mostly lower,
following declines in commodity prices.
In the U.S., existing-home sales rose a seasonally adjusted 3.4%
in April and 10% year-over-year. But Mexican retail sales slowed
during March, slipping 0.53% from February while rising 4.3% from
year-ago levels, according to the National Statistics
Here's where the Latin American markets stand this
- Ibovepsa down 1,120.17 (-1.98%) to 55,470.07
- IPC (Mexico City) up 66.97 (+0.18%) to 37,579.38
- Santiago Index IPSA up 40.11 (+0.95%) to 4,279.82
- Merval Buenos Aires up 51.78 (+2.36%) to 2,245.49
In company news, U.S.-listed shares of Net Communications
) are up slightly more than 2% this afternoon after the telecom
stock got an upgrade from TheStreet Ratings from hold to buy.
In its commentary explaining the upgrade, TheStreet said NETC is
demonstrating strong revenue growth, expanding profit margins and
good cash flow from operations outweighing the company's rather
weak EPS growth in recent quarters.
NETC reported earnings of $0.19 per share during its December
2011 quarter, down from a $0.23 cents per share in the year-ago
quarter. It blamed the decline in net income on higher tax
Copyright (C) 2014 MTNewswires.com. All rights reserved. Unauthorized reproduction is strictly prohibited.