LATIN AMERICAN MARKETS: Brazil, Mexico Stocks Edge Higher; Gol
Gets Lift
By Laura Mandaro
Brazilian stocks posted modest gains Tuesday, as rising telecom stocks and
airline stocks, which got a lift after Gol Linhas Aereas Inteligentes increased
its outlook, offset falling bank stocks.
Mexican shares also tipped higher, while Chilean and Argentine benchmark
indexes sank.
Brazil's Bovespa added 89 points, or 0.1%, to 66,303.
U.S.-listed shares of Gol (GOL) rose 0.8% after the discount airline operator
said late Monday it swung to a profit in the third quarter and lifted its 2009
traffic outlook, according to Dow Jones Newswires.
Rival Tam (TAM) shares rose 0.1%. Aircraft maker Embraer's (ERJ) U.S. shares
sank 0.4%.
Shares of Vivo Participacoes (VIV) and Tim Participacoes (TSU) were some of
the biggest advancers in Sao Paulo. Weighing on the index, shares in exchange
operator Bovespa fell 2% and investment bank Bradespar fell 1.7% in Sao Paulo.
Mexico's IPC rose 0.5% to 30,788. Chile's IPSA index fell 0.4% to 3,389.
Energy prices didn't give much of a lift to the region's resource companies.
The U.S.-listed shares of Brazil's Petrobras Petroleo Brasileiro (PBR) gained
0.5%.
Crude-oil futures briefly traded above $80 a barrel Tuesday, but turned lower
in the afternoon as U.S. stocks fell and the dollar strengthened, pressuring
dollar-denominated oil prices.
(END) Dow Jones Newswires
11-10-091645ET
Copyright (c) 2009 Dow Jones & Company, Inc.
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