EMERGING MARKETS-Latam markets slide on oil, China concern

lunes 8 de diciembre de 2014 14:41 GYT
 

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)