Latin American Stocks Mostly Lower; Global Data, Spanish Reticence Sends All But Mexico Sliding


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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 ( 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%.

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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