Referenced Stocks

Mining, Energy Stocks Leading Latin American Markets in Broad-Based Rallies

By MT Newswires,  June 29, 2012, 01:47:22 PM EDT

Latin American Stocks are broadly higher today after European leaders announced plans for a banking supervisor to oversee financial institutions throughout the 17-country eurozone. Mining and energy stocks are getting the biggest push higher with gains in commodity prices.

Here's where the regional market gauges stand this afternoon:

- Ibovespa up 1,226.44 (+2.33%) to 53,878.6914

- IPC (Mexico City) up 262.52 (+0.66%) to 39,900.18

- Santiago Index IPSA up 37.92 (+0.87%) to 4,374.28

- Merval Buenos Aires up 55.88 (+2.46%) to 2,323.99

In company news, Anheuser-Busch InBev SA ( BUD ) shares are up 6% and have hit year highs today after the brewer completed its $20.1-billion acquisition of Grupo Model, its Mexican business partner. Coupled with the deal, Constellation Brands bought out the 50% stake in its Crown Imports joint venture with Grupo Model -- carrying its shares to a 24.7% rise.




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: BUD



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