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EMERGING MARKETS-Latam stocks mostly lower as Brazil corporate earnings eyed
May 10, 2013 / 9:31 PM / in 4 years

EMERGING MARKETS-Latam stocks mostly lower as Brazil corporate earnings eyed


    By Asher Levine and Danielle Assalve
    SAO PAULO, May 10 (Reuters) - Latin American stocks were
mostly lower on Friday as Brazil's benchmark Bovespa index fell
following a mixed bag of corporate earnings reports.
    Chile's bourse was down by 0.68 percent, while
Mexico's IPC index edged up 0.14 percent.  
    Brazil's Bovespa traded lower for the third straight
session, losing 0.61 percent to 55,107.80 points. 
    "The outlook for this market is still very uncertain ... the
recent results have not made things much clearer," said Debora
Morsch, a partner with Zenith Asset Management in Porto Alegre.
    Shares of heavily-weighted OGX Petroleo e Gas Participacoes
SA, the oil company controlled by Brazilian
billionaire Eike Batista, slipped 1.21 percent after the company
said its quarterly net loss nearly tripled from the last three
months of 2012. 
    Shares of homebuilder PDG Realty SA rose 4.09
percent after the company posted a worse-than-expected first
quarter loss on Friday, with analysts citing signs of progress
in the company's turnaround strategy. 
    In Mexico, the IPC index eked out a slight gain to
41,741.54 points following two straight days of losses.
    Cement manufacturer Cemex rose nearly 4 percent,
contributing most to the index's gains.
    Chile's IPSA index fell for the second straight
session, losing 0.68 percent to 4,319.96 as shares of
conglomerate Copec slipped 1.5 percent.
    Latin America's key stock indexes at 2043 GMT:
 Stock indexes                                       % change
 MSCI LatAm                          3,747.87           -0.98
 Brazil Bovespa                     55,107.80           -0.61
 Mexico IPC                         41,741.54            0.14
 Chile IPSA                          4,319.96           -0.68
 Chile IGPA                         21,185.52           -0.47
 Argentina MerVal                    3,712.51            -3.9
 Colombia IGBC                      13,190.88           -0.99
 Peru IGRA                          17,801.38           -0.06
 Venezuela IBC                     698,861.56            2.08

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