Latam Airlines Slumps as BofA Lowers Stock to Equivalent of Hold

Latam Airlines Group SA dropped the most in 11 months as Bank of America Corp. lowered its recommendation to the equivalent of hold, citing the “negative effects” of the World Cup.

Shares of Latam declined 5.3 percent to 7,098.70 pesos in Santiago trading, the biggest drop on the benchmark IPSA index, which slid 0.2 percent. The airline’s New York-traded shares dropped 5.4 percent to $12.51.