Latin American Stocks Strengthening Further In Late Trade, Supported By Chinese Growth Prospects, EU Economic Data


The Latin American markets have strengthened further in lat trade today, with most industry sectors rising after China signaled wider policy support for an economic revival, likely increasing demand for raw goods from the region. Equities also are finding support after a new Purchasing Managers Index for the European Union countries came up with a combined 46.5 score for November, up 0.8% from the prior month and also topping the initial flash estimate for the month.

Here's where the regional markets stand:

- Ibovespa was up 70.48 points a short time ago. Now up more than 170 points to near 57,700.

- IPC (Mexico City) was up 181.77. Now up nearer 100 points to 42,435.

- Santiago Index IPSA was up 4.74. Now up 7.67 to 4,149.72.

- Merval Buenos Aires was up 22.59. Now up 18.5 to 2,47.5.

In company news, Brazil-based miner Vale SA ( VALE ) is over 3% higher today following an announcement by the Malawi president the company was selected to build a new, $1 billion railroad to ferry passengers and minerals through the landlocked African nation. VALE currently mines coal in Mozambique and some of that product will be shipped through Malawi for the local market, as well as to export abroad, according to a Reuters report.

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.

Copyright (C) 2014 All rights reserved. Unauthorized reproduction is strictly prohibited.

This article appears in: Investing , Commodities

Referenced Stocks: VALE

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