Latin America stocks down following U.S. data
Tuesday, February 23rd, 2010LOS ANGELES (MarketWatch) — Major equity markets in Latin America fell Tuesday, with risk aversion spurred in part by a poor showing in monthly confidence among U.S. consumers.
The Bovespa index in Sao Paulo dropped 1.6% to 66,108.33, as only five of the 63 stocks on the index finished higher. Department-store operator Lojas Renner (BR:LOJAS RENNER 39.30, +1.79, +4.77%) shares jumped 4.8%, with UBS Pactual backing its buy rating on the company after it posted “impressive” growth in fourth-quarter earnings before interest, taxes, depreciation and amortization on Monday.
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