EMERGING MARKETS-Latam markets slide on oil, China concern
RIO DE JANEIRO, Dec 8 (Reuters) - Brazil led Latin American financial markets lower on Monday as weak Chinese economic data and plunging oil prices hurt the outlook for commodity exporters. Brazil's benchmark Bovespa index lost 2.9 percent, weighed down by a 4.6 percent drop in shares of state-run oil company Petroleo Brasileiro SA. Petrobras, as the oil company is known, has been under increased pressure from a growing corruption scandal that has forced it to delay the release of its third-quarter earnings. More recently, lower oil prices have contributed to doubts about the viability of some of the company's exploration projects. Brent and U.S. crude oil each fell more than $2 to a five-year low on market fear that oversupply would extend well into 2015. Data showing China's imports unexpectedly shrank in November while exports grew at a slower-than-expected pace also weighed on commodity prices. The Brazilian real dropped 0.8 percent to 2.6125 per dollar, on track to close at its weakest level since April 2005. Mexico's peso followed suit, sliding 0.6 percent. Sustained weakness in the Mexican peso could fuel inflation and potentially prompt higher interest rates, central bank governor Agustin Carstens was quoted as saying on Monday. Chilean markets were closed for a local holiday. Key Latin American stock indexes and currencies at 1815 GMT: Stock indexes daily % YTD % change change Latest MSCI Emerging 977.41 -0.84 -1.7 Markets MSCI LatAm 2792.15 -2.31 -10.71 Brazil Bovespa 50496.79 -2.88 -1.96 Mexico IPC 42906.12 -0.75 0.42 Chile IPSA 3968.12 0.67 7.27 Chile IGPA 19357.98 0.62 6.20 Argentina MerVal 9580.55 0.22 77.71 Colombia IGBC 11748.01 1.06 -10.12 Peru IGRA 14749.03 -1.49 -6.38 Venezuela IBC 3064.61 3.09 11.99 Currencies daily % YTD % change change Latest Brazil real 2.6115 -0.75 -9.75 Mexico peso 14.442 -0.57 -9.78 Chile peso 611.75 0.00 -14.00 Colombia peso 2316.5 0.07 -16.60 Peru sol 2.956 0.00 -5.51 Argentina peso 8.5450 0.06 -24.02 (interbank) Argentina peso 12.73 1.49 -21.45 (parallel) (Reporting by Walter Brandimarte)
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