February 13, 2013 / 1:55 AM / 5 years ago

EMERGING MARKETS-Mexican stocks down as investors await Obama speech

* Brazil closed for carnival through Wednesday

* Mexico’s IPC down 0.42 pct, Chile IPSA flat

By Lorena Segura

MEXICO CITY, Feb 12 (Reuters) - Mexican stocks ended slightly lower on Tuesday as investors adopted a wait-and-see approach to any economic announcements in U.S. President Barack Obama’s State of the Union address later in the day.

Brazil’s stock market, the region’s biggest trading hub, was closed through Wednesday for carnival.

Mexico’s IPC index ended the day down 0.42 percent, while Chile’s IPSA index was flat.

Tuesday began with Mexican conglomerate Alfa reporting a fourth-quarter profit of 1.497 billion pesos, leading its shares to decline 4.78 percent.

After the bell, the company said it would offer around $300 million in a debt issuance expected in the next few weeks.

America Movil, the telecommunications giant owned by Carlos Slim, reported an 8.2 percent fourth quarter loss after market close. Its shares had ended the day down 0.81 percent, while shares in Walmex, the region’s biggest retailer, rose 0.99 percent.

All eyes then turned to the United States, where Obama was set to address the nation.

“Obama’s speech is going to be about fiscal issues, lowering spending and lowering the deficit, but I‘m sure we won’t see anything too unexpected,” said Salvador Orozco, an analyst at Santander bank in Mexico City.

Chile’s IPSA index ended up 0.06 percent at 4,595.52 points.

Latin America’s key stock indexes at 0041 GMT:

0 : 0
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