Mexico In The Spotlight Amid Talk Of Benchmark Rate Cut; Santiago Little Changed; Brazil and Argentina Closed


With markets in Brazil and Argentina closed today for Carnival celebrations, Mexico has been in the spotlight. The Mexican IPC index is down about 100 points amid talk that policy makers Wednesday will indicate plans to cut its benchmark rate from a record low 4.5%. But bucking the trend is Mexican concrete manufacturer Cemex ( CX ), which is enjoying a 2%-plus advance this afternoon ahead of its yearly investor day on Thursday.

Elsewhere, the IPSA Santiago Index is barely higher, although it has scratched its way back from earlier declines.

In company news, NII Holdings Inc. ( NIHD ) is up more than 2% today after the telecom services provider in Latin American last night priced an upsized, $750 million private placement of 11.375% senior notes maturing in 2019 at par. The size of the offering was increased from its original $400 million and is slated to close on Feb. 19.

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: CX , NIHD

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