Brazilian stocks slip, Mexican stocks edge up
LOS ANGELES (MarketWatch) -- Brazilian stocks fell Tuesday, slightly extending their 3% slump in the previous session that was led by a 9% slide in oil firm Petrobras on energy-pricing concerns. Brazil's Ibovespa recently slipped 0.3% to 53,629, but Petrobras edged up 0.8%. Steel stocks were a drag on the index Tuesday, with MMX Mineracao e Metalicos down 3.4% and Vale off 0.1%. Mexico's IPC index was up 6 points at 39,163 after two consecutive days of gains. Brewer Grupo Modelo dropped 4%, pulling back from its 19% jump on Monday in anticipation of a takeover by Anheuser-Busch InBev . In economic news, Mexico's Inegi statistics agency said the economy grew 4.7% in April compared with the same period a year ago. Analysts polled by Dow Jones Newswires had expected growth of 4.3%.
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