Latin American Markets Mostly Lower Today, Giving Back Early Gains From China Trade Data
Latin American markets are mostly lower in choppy late Friday trade, having given back earlier gains made after strong trade data out of China overnight pointed to more future demand for raw materials.
Brazil's markets will be closed from Monday morning until after lunch on Wednesday for the country's annual pre-lent Carnaval celebrations.
Here's where the regional markets stand today:
- Ibovespa was down 142.19. Now down 111 (-0.2%) to 58,261.5.
- IPC (Mexico City) was up 71.36. Now 81 higher (+0.18%) to 45,099.4.
- Santiago Index IPSA down 3.35 (-0.1%) to 3,955.5.
- Merval Buenos Aires down 24.66 (-0.75%) to 3,278.31.
In company news, Bunge Ltd ( BG ) shares are up 1.7%, not showing much ill effects after a downgrade of the agribusiness giant with operations throughout South America by analysts at Feltl & Co., which now rate BG as a Hold, down from Strong Buy.