Markets
ERJ

Broad Market Losses For Latin American Stocks; Gold Miners Helping Limit Losses

The Latin American markets are either lower and moving further into negative turf or slightly higher and losing some gains this afternoon, with gains for some gold and other mining stocks not quite limiting declines for the broader market gauges.

Here's where the regional markets stand today:

- Ibovespa down 300.85 (-0.5%) to 58,621.

- IPC (Mexico City) down 418.5 (-1%) to 41967.

- Santiago Index IPSA down 29.73 (-0.7%) to 4,235.65

- Merval Buenos Aires up 3.48 (+0.14%) to 2,431.53

In ADR news, Embraer ( ERJ ) is down in afternoon trade ahead, with the Latin American jet manufacturer tomorrow expected to report its best quarterly profit in more than a year although weaker sales and slowing aircraft deliveries continuing to raise questions whether ERJ will meet it yearly goals.

Analysts currently are project EJR to post about $103 million in net income during the three months ended in September, according to a survey of nine analyst estimates by Reuters. A year ago, its profit was only $2 million, due - in part - to adverse currency effects.

Yet analysts say any upward momentum for EJR shares likely depends on new orders for its regional jets from the major airlines in the United States, helping boost the company's backlog - currently at its lowest level in over five years.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Copyright (C) 2016 MTNewswires.com. All rights reserved. Unauthorized reproduction is strictly prohibited.


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

In This Story

ERJ

Other Topics

Commodities