Brazil stocks fall after three-day gains
7/20/12 11:13 AM ET (MarketWatch)
NEW YORK (MakretWatch) -- Brazilian equities traded lower on Friday, following a decline in U.S. stocks as companies posted weaker results due to the economic slowdown. The Ibovespa , the main equity index in Brazil, fell 1.4% to 54,571, on track to break a three-day winning streak. Steel stocks weighed on the index, with mining company MMX Mineracao e Metalicos down 4.6% and Vale lost 1.7%. Elsewhere in Latin America, Mexico's IPC index ticked 0.1% lower to 40,730. Shares of cement maker Cemex climbed 5.4% and were top performers. The company reported higher sales in the U.S., partially offsetting weaker sales in Mexico and Europe. Chile's IPSA lost 0.2% to 4,384.
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