Latin American Markets Mostly Higher; Kimberly-Clark Subsidiary in Mexico Lifts IPC Index
Latin American markets lost some ground and were mixed late Thursday. There was a near 1% rise for the Mexican IPC Index as the U.S. listed stock of Kimberly-Clark hit year higha. Kimberly-Clark de Mexico reported a 33% jump in Q4 profit to 1.22 bln pesos ($94.7 mln), helped by reduced costs as well as a 9% jump in Q4 revenue over the year-ago period to 7.7 bln pesos ($624.9 mln).
Here's where the regional markets stand today:
- Ibovespa was up 19.55 an hour ago. Now down 40 (-0.1%) to 55,995.
- IPC (Mexico City) up 412.36 (+0.94%) to 44,077.09
- Santiago Index IPSA was up 2.28. Now down 8.2 (-0.04%) to 4,432.14
- Merval Buenos Aires down 36.54 (-1.07%) to 3,380.78
In individual company news, ADRs of Empresa Nacional de Electricidad ( EOC ), also known as Endesa Chile, was up more than 1% after analysts at Bank of America raised their rating for shares of the electric utility to Neutral from Underperform.
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