The Latin American markets are mixed today with the Ibovespa index weakening further while the Merval Buenos Aires index in Argentina has turned positive, albeit narrowly. Mexico's IPC index is gaining strength but Chilean stocks, as a group, are weakening, in part, because of a hard stumble today by Sociedad Quimica y Minera de Chile S.A.
Here's where the regional markets stand today:
- Ibovespa now down 180 points, was down 64.5 points.
- IPC (Mexico City) now up 250 points, was up 177.6 points.
- Santiago Index IPSA now down 38.1 points, was down 33.5 points.
- Merval Buenos Aires now up 0.5 points, was down 1 point.
In company news, ADS of Sociedad Quimica y Minera de Chile S.A ( SQM ) are down 6% today after the Chilean mining and chemical company reported Q3 earnings of $0.63 per share, up from a $0.54 profit in the year-ago quarter but missing the analyst consensus estimate by $0.10 a share. Revenues climbed 7% to $615.3 million, also trailing the Street view by about $54.18 million.
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