EMERGING MARKETS-Latin American stocks mostly flat, Peru down

Mon Feb 11, 2013 5:37pm EST

Related Topics

* Brazil closed for carnival through Wednesday
    * Drop in gold hits Peruvian miner Buenaventura
    * Mexico's IPC down 0.06 pct, Chile IPSA up 0.08 pct

    MEXICO CITY, Feb 11 (Reuters) - Latin American stocks were
little changed on Monday with Brazil on holiday and Mexican
stocks mostly flat, while shares in Peru fell as a drop in gold
prices hit local miners.
    Brazil's stock market, the region's biggest trading hub, is
closed on Monday through Wednesday for carnival.
    Peru's main index lost 0.76 percent as precious
metals miner Buenaventura shed more than 4 percent 
following a drop in gold prices to a one-month low.
    Gold prices were hit by technical selling after prices slid
through support at $1,650 an ounce. Analysts said downward moves
in commodities were exaggerated since major Asian markets were
closed this week for Lunar New Year. 
    Chile's bourse and Mexico's benchmark IPC 
were little changed. Mexican stocks have slipped off a record
high, hit last month, while Chilean equities dipped last week
off their highest level in about 10 months.
    "We are seeing less demand from foreign investors and they
could start to take profits," said Arturo Curtze a trader a
Chilean brokerage Vantrust Capital.
    Chilean retailer Falabella rose 0.88 percent, while
mobile telephone operator Entel lost 0.94 percent.
    Shares in Mexican brewer Grupo Modelo were
nearly unchanged after it said fourth-quarter profit fell 2
percent as higher taxes offset an increase in revenue.
 
    Latin America's key stock indexes at 2200 GMT:
     
 MSCI LatAm               3,893.56    -0.22     2.52
                                             
 Brazil Bovespa          58,497.83   Closed    -4.03
                                             
 Mexico IPC              45,063.88    -0.06     3.11
                                             
 Chile IPSA               4,592.62     0.08     6.77
                                             
 Chile IGPA              22,289.02     0.04     5.78
                                             
 Argentina MerVal         3,279.96    -0.69    14.91
                                             
 Colombia IGBC           14,891.01    -0.88     1.19
                                             
 Peru IGRA               21,613.02    -0.76     4.77
                                             
 Venezuela IBC           566,926.7     0.21    20.26
                                 5
FILED UNDER:
Comments (0)
This discussion is now closed. We welcome comments on our articles for a limited period after their publication.