May 9, 2013 / 10:26 PM / 5 years ago

EMERGING MARKETS-Latam stocks fall, Mexico hits 6-month low

* Weak corporate earnings weigh on Brazil's Bovespa
    * Bovespa falls 0.64 pct, Mexico's IPC down 1 pct

    By Asher Levine and Danielle Assalve
    SAO PAULO, May 9 (Reuters) - Latin American stocks fell on
Thursday, tracking a late fall in U.S. markets and hurt by a
string of weak Brazilian corporate earnings. 
    Mexico's IPC index fell to its lowest level in nearly
six months, while Chile's bourse dropped 0.15 percent. 
    Shares rose early in the session after data showed U.S.
jobless claims fell to their lowest level in nearly 5-1/2 years
last week, supporting demand for the most widely traded stocks.
    But disappointing corporate earnings weighed on Brazil's
benchmark Bovespa stock index, which closed down 0.64
percent at 55,447.56 points. 
    "Markets abroad are at very high levels and that limits the
room we have for new advances," said Silvio Campos Neto, an
economist with Tendencias Consultoria in Sao Paulo. "We are in a
period of uncertainty, without big movements in the Bovespa in
either direction."
    Commodities and oil producers drove losses in Brazil. Oil
company OGX, which is owned by billionaire Eike
Batista, fell 6.25 percent, while steelmaker Usiminas 
lost 3.03 percent. 
    Weak corporate results also limited the Bovespa's gains.
    Shares of Brazil's biggest electricity distributor, 
Eletropaulo Metropolitana Eletricidade de São Paulo SA
 fell 1.17 percent after the company reported a slight
net loss in the first quarter. 
    Shares of homebuilder Brookfield Incorporacoes 
fell 7.14 percent after the firm posted a surprise first-quarter
net loss on Wednesday, citing cost overruns that have plagued
its performance in recent years. 
    Mexico's IPC index fell 1.00 percent to 41,682.64, as
a 1.85 percent drop by retailer Elektra weighed. 
    Chile's IPSA index was down 0.15 percent at
4,349.46, with a 0.96 percent decline by airline LAN 
driving the index lower. 
    Latin America's key stock indexes at 2158 GMT:
 Stock indexes                                    % change
 MSCI LatAm                          3,785.10        -0.33
 Brazil Bovespa                     55,447.56        -0.64
 Mexico IPC                         41,682.64           -1
 Chile IPSA                          4,349.46        -0.15
 Chile IGPA                         21,286.42        -0.02
 Argentina MerVal                    3,863.19        -4.33
 Colombia IGBC                      13,323.40         0.40
 Peru IGRA                          17,812.75         1.35
 Venezuela IBC                     684,598.25         0.29
0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below