Referenced Stocks

Latin American Stocks Rising Ahead of FOMC Meeting, German ESM Court Decision

By Midnight Trader,  September 11, 2012, 01:07:21 PM EDT

Latin American markets are higher today ahead of this week's Federal Open Market Committee meeting, which is expected to lead to market stimulus. Traders also are waiting for Germany's Federal Constitutional Court tomorrow to give the all clear on the country's participation in the European Stability Mechanism.

Here's where the regional markets stand this afternoon:

- Ibovespa up 825.5 (+1.4%) to 59,229.6.

- IPC (Mexico City) up 80.29 (+0.2%) to 40,072.

- Santiago Index IPSA up 12.55 (+0.3%) to 4,187.

- Merval Buenos Aires up 31.6 (+1.3%) to 2,403.

In company news, Brazilian state-led oil company Petroleo Brasileiro SA ( PBR ) is up about 2% today after reportedly starting production from its floating production, storage and offloading vessel Cidade de Anchieta in a subsalt field in the Campos Basin.

PBR expects the vessel to reach peak production of 100,000 barrels of oil equivalent a day next February, Reuters reports, citing a regulatory filing today by the company.




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: PBR



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