Latin American markets are mostly lower in late trading on losses for mining and energy stocks after China reported a higher-than-expected 2.0% rise in inflation during November, sparking concern the Chinese government will soon withdraw its stimulus measures and undercut demand for raw materials.
Here's where the regional markets stand today:
- Ibovespa was down 245.4. Now down 308.5 (-0.5%) to 61,369.79.
- IPC Mexico now down around 32.3 (+0.05%) to 44,822.
- Santiago Index IPSA down 19.14 (-0.4%) to 4441.25.
- Merval Buenos Aires down 13.2 (-0.4%) to 3,101.
In company news, U.S.-traded shares of retailer Grupo Pao de Acucar SA ( CBD ) are down more than 2% after the company today said Q4 sales growth slowed and it opened fewer stores than promised last year. It also may be affected by CBD today launching an auction of 13 million preferred shares with a minimum price of 88 real ($43.32) apiece on the Sao Paulo stock exchange.
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