Latin American markets are mostly lower, although Mexican stocks
are managing to remain pretty steady, extending their strong
showing this summer. Traders appear to be taking their cues from
markets elsewhere, which are mostly lower following lackluster
German and Japanese economic data and Spain balking at a bailout of
its struggling financial system until it receives more information
on its terms.
Here's where the regional markets stand today:
- Ibovespa down 272.41 (-0.5%) to 57,081.78.
- IPC (Mexico City) down 0.94 (flat) to 39,910.
- Santiago Index IPSA down 28.76 (-0.69%) to 4,126.46
- Merval Buenos Aires down 32.74 (-1.3%) to 2,412.70.
In company news, ADRs of Argentina's state-controlled energy
company YPF (
)are down moe than 2% after saying it will need about $37.2 billion
in new investments through 2017, adding it expects to fund nearly
90% of that amount itself, according to a company presentation.
The company, which President Cristina Fernandez nationalized
earlier this year, set its dividend payout ratio at 5%. Before the
takeover, YPF had one of the most generous dividend policies in the
industry, with a ratio of about 75%.
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