EMERGING MARKETS-Latam stocks continue decline to long unseen lows

Wed Jun 12, 2013 5:34pm EDT

Related Topics

* Banorte announces global share offering, stock plummets
    * Mexico IPC down 1.03 pct, Brazil Bovespa 1.18 pct off

    By Asher Levine and Danielle Assalve
    SAO PAULO, June 12 (Reuters) - Mexican stocks fell to their
lowest in nearly a year on Wednesday, driven by a sharp fall in
the shares of Grupo Financiero Banorte, while
Brazilian stocks closed at their worst level in nearly two
    Banorte, Mexico's fourth-largest lender by assets, said the
up to $3 billion offer would include a primary public offering
in Mexico and a private offering in some foreign markets,
including the United States. 
    Banorte shares ended the day down 4.27 percent on the
outlook for dilution in the stock. The drop contributed to a
1.03 percent fall in Mexico's IPC index.
    Emerging markets such as Mexico have suffered recently on
fears the world's central banks might wind down asset-buying
    * Brazil's benchmark Bovespa stock index also fell,
losing 1.18 percent to close at 49,180.58 points, its lowest
since August 2011.  
    * The shares of troubled oil producer OGX, owned
by billionaire Eike Batista, drove losses, tumbling 11 percent. 
    * Chile's bourse lost nearly 1 percent, its sixth
straight day of losses that have shaved 6.5 percent off the
index. The shares of regional energy group Endesa Chile 
fell 2.38 percent. 

    Latin America's key stock indexes at 2048 GMT:
 Stock indexes                             daily %  year-to-da
                        Latest              change        te %
 MSCI LatAm                   3,267.10       -0.87      -13.97
 Brazil Bovespa              49,180.58       -1.18      -19.31
 Mexico IPC                  39,480.35       -1.03       -9.67
 Chile IPSA                   3,924.43       -0.97       -8.76
 Chile IGPA                  19,576.85       -0.83       -7.09
 Argentina MerVal             3,237.06       -3.15       13.41
 Colombia IGBC               13,090.64       -1.22        3.35
 Peru IGRA                   15,761.38         0.3      -23.60
 Venezuela IBC              853,299.25         0.2       81.00
Comments (0)
This discussion is now closed. We welcome comments on our articles for a limited period after their publication.