SAO PAULO, Brazil (AP) - Latin American stocks opened lower Wednesday in line with European markets, then rebounded after Wall Street investors calmly absorbed the latest evidence of a still-weakening economy.
Mexico's IPC index closed 1.7 percent higher at 20,147 after initially dropping 1.1 percent to 19,576.
Colombia also was on the rise, its IGBC index up 2.1 percent to 7,381 after opening 0.5 percent lower to 7,193. Argentina's Merval index rose 1.9 percent to 970 after opening down 1 percent at 942.
Brazilian stocks also began in negative territory — down 2.1 percent to 34,256 — but recovered in the afternoon to close up 0.8 percent at 35,293.
The country's currency, the real, closed at 2.5 to the U.S. dollar — its lowest level against the greenback since June 10, 2005.
Grim economic data from Europe helped drive down some Latin American stocks. Many of Latin America's big companies are major exporters, with their sales tied to worldwide demand for such products as iron ore, steel, copper and soy.
Chile's IPSA index opened lower and stayed that way, slipping 0.6 percent to 2,304 in afternoon trading.
(This version CORRECTS Merval numbers.) |