Referenced Stocks

Latin American Stocks Rise on Stimulus Hopes

By Midnight Trader,  July 18, 2012, 01:51:02 PM EDT

Latin American stocks are mostly higher today, supported by moderate gains among energy and technology issues. Shares also are rising on expectations central bankers in the United States and China will soon move to further stimulate economic growth, bolstering demand for raw goods.

Here's where the regional indices stood:

- Ibovespa up 539.53 (+1.00%) to 54,449.00

- IPC (Mexico City) down 131.39 (-0.32%) to 41,141.63

- Santiago Index IPSA up 7.67 (+0.17%) to 4,398.40

- Merval Buenos Aires up 69.99 (+2.91%) to 2,473.59

In company news, U.S.-listed shares of Banco Latinoamericano de Comercio Exterior S.A ( BLX ) were down over 3% and shy of year highs after the Panamian bank reported a $0.61 a share Q2 profit, beating the analyst consensus of $0.57 a share but trailing the year-ago comparison of $0.70 a share.

BLX blamed the smaller profit largely on $4.9 million in generic provisions for credit losses due to portfolio growth and changes in the portfolio composition.




The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.


This article appears in: Investing, Commodities

Referenced Stocks: BLX



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