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Laatin American Markets Mostly Higher As OECD Sees Growth, Speculation Over Economic Stimulus Returns

By: MT Newswires
Posted: 1/14/2013 1:25:00 PM
Referenced Stocks: AMX;ERJ

Latin American markets are mostly higher today after the Organization for Economic Cooperation and Development said the outlook for growth in most industrialized countries is improving and also on speculation central bankers in the U.S. and Japan will take more steps to spur growth.

IBOVSEPA up around 450 points or 0.7% at 61,945.5.

MERVAL BUENOS AIRES up 4.7 points at 3,112.4.

Santiago Stock Exchange IPSA Index down 1.95 at 4,434.7.

In individual company news, U.S.-listed shares of Embraer SA ( ERJ ), the world's largest maker of regional jets, are up about 2.5% after the company announced

an order for 20 new planes from an unnamed customer on Monday. The deal, received in Q4, calls for ERJ to deliver 15 of its E-190 aircraft and five of its E-175 jets, according to a securities filing.

Also today, America Movil S.A.B. de C.V. ( AMX ) is getting a boost after the telecommunication firm controlled by Carlos Slim was raised to Buy from Hold at, citing robust revenue growth, expanding profit margins and rising net income and share price over the past year.