Latin American equities sluggish on Greece fears

Latin American stocks were mixed on Friday as investors focused on a key vote in Greece needed to help the country avoid becoming the first member of the Eurozone to default on its debt. Brazil's benchmark Bovespa stock index retreated 0.3 per cent, as plunging oil prices hit energy stocks after a Thursday market holiday that sapped Friday volumes. Uncertainty over passage of Greek austerity measures also erased early gains on bourses in Mexico and Chile. "If a new fiscal plan and the sale of assets is approved [by the Greek parliament], the bourse could see some short-term enthusiasm," said Caue Pinheiro, an analyst with Brazil's SLW brokerage. Energy companies led losses in Brazil as preferred shares of state-controlled Petrobras gave up 1.7 per cent, and its common stock lost 2 per cent. From / Gulf News