Latin American Stocks Rising as Traders Bid Up Energy Producers, Miners

By Staff,

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Energy stocks are leading the Latin American markets higher for a third session, including a 7% gain today for U.S.-listed shares of Brazilian oil and gas major Petrobras ( PBR ). Mining stocks - other than gold ones - likewise are enjoying a boost as traders speculate whether the Federal Reserve and global banks are preparing stimulus programs in a bid to trigger new growth.

Financial stocks also are rallying. Spanish banks such as Banco Santander S.A. ( SAN ), which also boast a significant regional presence, are gaining today as immediate worries over eurozone economics appear to be diminishing following Sunday's parliamentary elections in Greece. At last look, SAN shares are up around 4.5% this afternoon.

Here's where the major regional indices stand this afternoon:

- Ibovespa is up 1,055.39 (+1.88%) to 57,250.6016

- IPC (Mexico City) is up 677.68 (+1.78%) to 38,738.50

- Santiago Index IPSA is up 15.66 (+0.36%) to 4,353.09

- Merval Buenos Aires is up 68.61 (+3.02%) to 2,338.40

In company news,

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
Referenced Stocks: PBR , SAN

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