Mexican shares set for first loss in six sessions
NEW YORK (MarketWatch) -- Mexican equities fell Thursday, with the market's benchmark stock index poised for its first decline in six sessions, pressured by a decline in shares of Wal-Mart de Mexico. Mexico's IPC index fell 0.7% to 38,712.56. Wal-Mart de Mexico shares slipped 4.3%, weighing on the index, after the company announced it would need several extra months to complete this year's expansion plan. But Grupo Elektra S.A. continued to surge, gaining 3.5% in morning trade. Brazil's Ibovespa index fell 0.8% to 56,698.32, with steel companies loosing the most. Shares of Steelmaker Usinas Siderurgicas de Minas Gerais declined 2.5% and MMX Mineracao fell 3%. Chile's IPSA equity index fell 0.4% to 4,380.03.