Latin American Markets Mixed; Struggling Miners Snap Three-Day Rally For Brazilian Stocks
Latin American markets are mixed today, with the Brazil's Ibovespa index falling for the first time in three days after new data showed a decrease in industrial production. Declines for energy and material stocks - which account for roughly 40% of the Bovespa's value - are down sharply with lower metal prices in commodities trading. Financial stocks also are weaker.
Industrial output fell 0.6% in Brazil during November from the prior month, the country's economic data agency reported this morning. Economists had been expecting a 0.9% decrease, according to the median forecast of analysts in a Bloomberg survey.
Here's where the regional markets stand today:
- Ibovespa down 673 points (-1.1%) to 62,639.54.
- IPC (Mexico City) up 133.3 (+0.30%) to 44,504.
- Santiago Index IPSA up 18.6 (+0.5%) to 3,780.5.
- Merval Buenos Aires was down 3.05. Now up 2.2 points (+0.1%) to 2,977.8.
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