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Latin American Stocks Mixed; Gains by Gold Miners Offset Declines in Energy, Base Metal Sectors

Posted
9/18/2012 1:03:00 PM
By: MT Newswires
Referenced Stocks:GE;PBR

The Latin American markets are mixed today, with declines among energy and base-metal miners dragging on the major indexes. Gold miners were posting small gains, continuing to draw strength from plans by the U.S. Federal Reserve and other central bankers to pump additional liquidity into the global economies.

Here's where the Latin American markets stand today:

- Ibovespa down 41.88 (-0.07%) to 61,764.10.

- IPC (Mexico City) down 4.54 (+0.01%) to 40,616.92.

- Santiago Index IPSA up 33.23 (+0.79%) to 4,218.00.

- Merval Buenos Aires up 2.52 (+0.1%) to 2,481.76.

In company news, General Electric Co ( GE ) has signed a contract to supply 2.3 billion reais ($1.14 billion) in equipment to Brazil's state-led oil firm Petrobras ( PBR ), according to a release distributed to reporters on Tuesday.

The U.S. conglomerate will supply PBR with 380 oil exploration systems, the report said, as the oil giant tries to boost output. The deal is the largest between the two companies, which signed a similar accord worth $250 million in 2009. Petrobras ADRs are up about 0.46% today. GE also is up 0.45% and closer to year high levels.