UPDATE 1-AIG CEO may reduce buybacks, focus on acquisitions
June 28 American International Group Inc CEO Brian Duperreault said on Wednesday the company would likely slow the pace of share buybacks and instead spend on acquisitions.
(Updates prices) By Bruno Federowski SAO PAULO, May 17 Latin American markets and currencies weakened on Wednesday as speculation U.S. President Donald Trump could face the threat of impeachment triggered worldwide profit-taking on riskier assets. The Brazilian real slipped 1.23 percent, while the Mexican peso fell 0.71 percent. Both currencies had strengthened in the last six trading days. News reports emerged on Tuesday that Trump had asked then-Federal Bureau of Investigation Director James Comey to end the agency's investigation into ties between former White House national security adviser Michael Flynn and Russia. The reports fueled questions over whether Trump could be charged with obstruction of justice, potentially opening the door for an early exit from office. Uncertainty over his future drove investors away from higher-risk assets, while also fostering doubt over the implementation of his fiscal expansion pledges, traders said. Stock markets also fell, with MSCI's emerging markets equity index down 0.63 percent. MSCI's Latin American stock index fell 1.71 percent, following a 6 percent rally in the last six sessions. All of Latin American benchmark stock indexes were down, with Brazil's Bovespa index the worst performer, dropping 1.67 percent. Shares of banking giant Itau Unibanco lost 2.04 percent, while those of fellow bank Bradesco fell 1.97 percent. Iron ore producer Vale also suffered, with its shares down 1.93 percent. Mexico's IPC stock index was not immune from the pain, losing 1.44 percent during Wednesday's session. Shares of bottler and retailer Fomento Economico Mexicano (Femsa) lost 1.93 percent after Coca-Cola Femsa, a joint venture with Coca-Cola Co, ditched plans to acquire certain distribution territories in the United States. Shares of dairy producer Grupo Lala fell 3.90 percent on Wednesday, the same day the Wall Street Journal reported the company was the lead bidder for Danone's Stonyfield Farm, a U.S. yogurt maker. Key Latin American stock indexes and currencies at 2307 GMT: Stock indexes daily % YTD % Latest change change MSCI Emerging Markets 1008.63 -0.63 16.97 MSCI LatAm 2714.34 -1.71 15.97 Brazil Bovespa 67540.25 -1.67 12.14 Mexico IPC 48747.95 -1.44 6.80 Chile IPSA 4853.49 -0.45 16.91 Chile IGPA 24357.55 -0.37 17.48 Argentina MerVal 21674.24 -0.72 28.11 Colombia IGBC 10721.89 -0.97 5.86 Venezuela IBC 65376.60 1.49 106.20 Currencies daily % YTD % change change Latest Brazil real 3.1337 -1.23 3.69 Mexico peso 18.7825 -0.71 10.44 (Reporting by Bruno Federowski; Editing by Andrea Ricci and Cynthia Osterman)
June 28 Shaw Communications Inc on Wednesday reported strong quarterly subscriber gains at its revamped cable business and notched wireless profit growth even as it spent heavily to build up both businesses.
WASHINGTON, June 28 U.S. securities regulators on Wednesday filed civil accounting fraud charges against Canada-based oil and gas company Penn West Petroleum Ltd and several of its former top finance executives.