Latin American stocks are broadly lower as commodities and resource-related stocks tumble late today in a global selloff sparked by lower-than-expected growth in China reported overnight.
Here's where the regional markets stand today:
- Ibovespa down 1,058.82 (-1.93%) to 53,909.83.
- IPC (Mexico City) was down 692.52. Now down 718.17 (-1.66%) to 43,273.05.
- Santiago Index IPSA down 57.70 (-1.4%) to 4,275.55.
- Merval Buenos Aires down 58.30 (-1.65%) to 3,406.18.
In individual company news, U.S.-traded shares of Petroleo Brasileiro SA ( PBR ), also known as Petrobras, are down 3.4% at $16.02 apiece with the state-owned energy giant today saying it has signed a four-year agreement with FMC Technologies ( FTI ) for subsea services in its offshore fields in the Atlantic Ocean. FTI will provide equipment commissioning and offshore technical services in addition to maintenance, modification, storage and logistics for PBR' subsea fields. FTI shares are down 3.5% at around $51 each.
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