EMERGING MARKETS-Latam currencies drop on U.S. rates outlook, Moody's Brazil call

martes 9 de septiembre de 2014 12:27 GYT
 

SAO PAULO, Sept 9 (Reuters) - Latin American currencies
weakened on Tuesday as investors changed their outlook on U.S.
interest rates, while Brazilian markets also reacted to a
warning from Moody's on the outlook for the country's credit
rating.
    The broader MSCI Latin American stock index 
fell its most in over two weeks, mostly due to a decline in
Mexican shares.
    The dollar gained worldwide on Tuesday after a research
document published Monday by the San Francisco Federal Reserve
suggested U.S. interest rates could rise sooner than many in the
market had expected. 
    All Latin American currencies weakened in response.
    The Chilean peso weakened its most in over a week,
also weighed down by a sharp decline in prices for copper
, the country's main export.
    Colombia's peso dropped its most since late July.
Colombia's government is proposing to raise its tax on capital
gains and to extend a financial transactions tax, Finance
Minister Mauricio Cardenas said on Monday. 
    The Brazilian real and the Bovespa stock index
 both dropped after Moody's Investors Service said it may
cut Brazil's credit rating in the next couple of years because
of a slow economy. 
    The move was "not entirely unexpected, especially after
Standard & Poor's downgraded Brazil's rating by one notch to
BBB- in March," wrote Citi analyst Kenneth Lam in a client note.
"It should not be a big deal but (it's) obviously not helping
sentiment today."
    Mexico's IPC stock index dropped the most in about
five weeks as investors took profits the day after the index
reached an all-time high.
    Telecommunications firm America Movil fell about
1.5 percent and contributed most to the index's decline. 
    
    Key Latin American stock indexes and currencies at 1610 GMT:
    
 Stock indexes                        daily %    YTD %
                             Latest    change   change
 MSCI Emerging Markets       1085.58    -0.86     9.21
                                               
 MSCI LatAm                  3532.91    -1.84    12.45
                                               
 Brazil Bovespa             58883.02    -0.52    14.32
                                               
 Mexico IPC                 45954.35    -0.87     7.55
                                               
 Chile IPSA                  4057.44    -0.06     9.68
                                               
 Chile IGPA                 19663.29    -0.05     7.88
                                               
 Argentina MerVal          10670.869     0.16    97.94
                                               
 Colombia IGBC              14355.84    -0.72     9.83
                                               
 Peru IGRA                  17217.42    -0.18     9.29
                                               
 Venezuela IBC               2675.58     0.74    -2.23
                                               
                                                      
 Currencies                           daily %    YTD %
                                       change   change
                              Latest           
 Brazil real                  2.2835    -0.85     3.21
                                               
 Mexico peso                 13.2095    -0.54    -1.36
                                               
 Chile peso                      591    -0.73   -10.98
                                               
 Colombia peso               1964.49    -0.92    -1.65
 Peru sol                      2.856    -0.14    -2.21
                                               
 Argentina peso               8.4000     0.06   -22.71
 (interbank)                                   
                                               
 Argentina peso                14.25     0.00   -29.82
 (parallel)                                    
                                               
 
        

 (Reporting by Asher Levine; Editing by Grant McCool)