Latin American markets are mixed today with stocks in Mexico and
Brazil trending higher. Mining issues are helping support those
advances as gold reverses several days of declines to climb past
$1,600 a share in New York commodities trade.
A 3.2% gain for LLX Logistica SA (LLXL3.SA) after the Brazilian
shipping and logistics company reported its Q4 financial results
last night also is supporting Sao Paulo's Ibovespa index.
Here's where the regional markets stood in afternoon
- Ibovespa up 299.74 (+0.54%) to 55,971.13
- IPC (Mexico City) up 183.05 (+0.42%) to 43,847.78
- Santiago Index IPSA down 13.90 (-0.31%) to 4,426.60
- Merval Buenos Aires down 18.05 (-0.53%) to 3,399.27
In individual company news, shares of Wal-Mart de Mexico SAB De
CV (WALMEXV.MX), the Mexican subsidiary of the retailing giant (
) were up 1.7% in local trading after the parent company last night
disclosed in a regulatory filing it is conducting an internal
inquiry in possible violations of the Foreign Corrupt Practices Act
involving some of its foreign units, including WALMEXV.MX.
WMT said it expects the investigations will result in additional
costs above the $157 mln it spent on probes during FY13. It also
said there likely will be more government and media scrutiny of the
company as a result of the inquiries, which "could impact the
perception of our role as a corporate citizen among certain
U.S.-listed shares of Companhia de Saneamento Basico do Estado
de Sao Paulo (
) were down 1% to $446.87 after the company said regulators in
Brazil late last week signed off on revised tariff formulas for the
water and sanitation company.
A separate resolution allow SBS to pass on any tariff increases
to its customers.