EMERGING MARKETS-Latam stocks fall on Syria uncertainty

Tue Aug 27, 2013 7:27pm EDT

Related Topics

* Possible U.S. military action drives shares down
    * Oil watchdog rejects OGX plan to modify production site
    * Brazil Bovespa down 2.6 pct, Mexico IPC falls 1.89 pct


    MEXICO CITY, Aug 27 (Reuters) - Latin American stocks
tracked world markets lower on Tuesday, as uncertainty over
potential U.S. military action against the Syrian government
drove investors away from risky assets.
    Mexico's IPC index declined for the fifth session in
a row, while Chile's bourse approached its lowest levels
in nearly four years.
    Concern over a possible U.S. military strike against the
Syrian government of Bashar al-Assad roiled global markets. The
S&P 500 closed under its 100-day moving average for the first
time since June 24, a sign of weak near-term momentum. 
    Brazil's benchmark Bovespa stock index fell for the
second session in a row, dipping 2.6 percent to 50,091.55
points.
    Shares of OGX Petroleo e Gas Participacoes SA,
the oil company controlled by Brazilian tycoon Eike Batista,
fell 14.81 percent after Reuters reported that Brazil's oil
industry watchdog plans to reject OGX's proposal to modify
development of Tubarao Azul, its first producing offshore oil
field. 
    Shares of Batista's shipbuilding firm, OSX Brasil SA
, fell 20.8 percent after the company said on Tuesday
that Batista would be injecting as much as $50 million into the
company with proceeds from the sale of part of his holdings in
the company. 
    Mexico's IPC index lost nearly 2 percent, as shares
of some of Mexico's biggest companies, including miner Grupo
Mexico, retailer Walmex and
conglomerate Alfa fell between 2 and 5 percent. 
   Chile's IPSA index fell 2.28 percent to 3,558.24, its
ninth session of losses in ten. The IPSA has shed 17.28 percent
this year.
    
    Latin America's key stock indexes at 2248 GMT:
    
 Stock indexes                             daily %  year-to-da
                        Latest              change        te %
                                                        change
 MSCI LatAm                   3,007.94       -3.01       -20.8
                                                    
 Brazil Bovespa              50,091.55        -2.6      -17.82
                                                    
 Mexico IPC                  39,656.00       -1.89       -9.27
                                                    
 Chile IPSA                   3,558.24       -2.28      -17.28
                                                    
 Chile IGPA                  17,681.52       -2.18      -16.08
                                                    
 Argentina MerVal             3,848.02       -1.26       34.82
                                                    
 Colombia IGBC               13,569.63       -0.22        7.14
                                                    
 Peru IGRA                   16,506.57       -2.07      -19.99
                                                    
 Venezuela IBC            1,324,585.41        0.08      180.97
FILED UNDER: