Most Latin American Markets Lower; Buenos Aires Leads Those In Positive Turf

By Staff,

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The Latin American markets are mostly lower - the Merval Buenos Aires market is leading those that have managed to stay positive - with declines among shares of mining companies joining dips by most financial stocks to drag the primary market gauges underwater. Gains for energy stocks are working to limit losses.

Here's where the regional markets stand today:

- Ibovespa down 697.84 (-1.2%) to 57,138.94.

- IPC (Mexico City) down 61.56 (-0.15%) to 41,816.06.

- Santiago Index IPSA down 3.68 (-0.09%) to 4,232.44.

- Merval Buenos Aires now up 1.07 (+0.05%) to 2,377.56.

In company news, ADRs of Banco Bilbao Vizcaya Argentaria SA ( BBVA ) are steady today at $8.06 each after Oriental Financial Group Inc. ( OFG ) today priced an underwritten public offering of 4.39 million shares of its common stock at $11.10 each and generating about $48.7 million in gross proceeds. OFG plans on using net proceeds to fund a portion of its previously announced acquisition of BBVA's Puerto Rico-based operations.

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: BBVA , OFG

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