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Latin American Markets Mostly Lower; Draghi Comments Lifts Gold Miners But Depresses Financial Stocks

Posted
12/6/2012 1:12:00 PM
By: MT Newswires
Referenced Stocks:OMAB

Latin American markets are mostly lower today following comments today by European Central Bank President Mario Draghi the eurozone is unlikely to see an economic turn around before the second half of next year. Both the ECB and the Bank of England left interest rates unchanged, likely helping support gold mining stocks. Financial stocks are mostly lower amid concerns about the slow pace of global economic growth.

Here's where the regional markets stand today:

- Ibovespa now down 258.94 (-0.45%) to 57,415.

- IPC (Mexico City) now up near 200 points (+0.5%) to 42,630.

- Santiago Index IPSA down 7.30 (-0.2%) to 3,583.

- Merval Buenos Aires down 27.40 (-1.1%) to 2,442.6.

In company news, Grupo Aeroportuario del Centro Norte ( OMAB ) is up nearly 3% at 52 week highs after the Mexican airline carrier last night said terminal passenger traffic at its 13 airports increased 8.3% in November compared to the year-ago period. Domestic traffic rose 9.2% while international traffic climbed 2.5%. The number of takeoffs and landings during in the month also increased 1.0% over the same month last year. Domestic operations increased 1.2% with international takeoffs and landings declining 0.5% last month.