EMERGING MARKETS-Brazil markets melt as oil, ruble spook investors

martes 16 de diciembre de 2014 09:07 GYT

SAO PAULO, Dec 16 (Reuters) - Brazilian financial markets
opened sharply lower on Tuesday as falling oil prices and a
plunge in the Russian ruble drove investors toward safer assets.
    The Brazilian real fell to 2.73 per dollar, near its
weakest in ten years, while the Bovespa stock index 
crossed below the 46,000-point mark for the first time since
    Brent crude fell over $1 per barrel on Tuesday to
below $60 for the first time since July 2009 as a global supply
glut continued to thrash prices.
    Russia said on Tuesday it would not cut oil output to help
prop up prices and refrained from calling on OPEC to do so
despite its economy showing signs of severe
    The ruble tumbled more than 10 percent for the second day on
Tuesday, with confidence in the central bank evaporating after
an ineffectual overnight rate hike. 
    Brazil's real, which has weakened nearly 6 percent this
month on uncertainty over the future of the central bank's
currency intervention program and the outlook for U.S. interest
rates, extended its losses into a fifth session.
    Yields on Brazilian interest rate futures <0#DIJ:> shot
higher, with investors betting on bigger rate hikes in the
future to help contain inflationary pressure from the weaker
    The Bovespa stock index opened with a decline of
more than 2 percent, though it returned part of the losses
shortly after.
    Preferred shares of Brazil's state-run oil producer Petroleo
Brasileiro SA fell for a seventh straight day,
sinking to their lowest since early 2005. The stock is down 45
percent this year, hurt by both an ongoing corruption
investigation at the company and the decline in oil prices. 

    Key Latin American stock indexes and currencies at 1450 GMT:
 Stock indexes                        daily %    YTD %
                             Latest    change   change
 MSCI Emerging Markets        912.67    -1.23    -7.84
 MSCI LatAm                 2,500.44    -1.32   -20.84
 Brazil Bovespa            46,500.25     -1.1    -9.72
 Mexico IPC                     0.00        -        -
 Chile IPSA                 3,748.57    -0.12     1.33
 Chile IGPA                18,445.50     -0.1     1.20
 Argentina MerVal               0.00        -        -
 Colombia IGBC             10,262.96        -        -
 Peru IGRA                      0.00        -        -
 Venezuela IBC                  0.00        -        -
 Currencies                           daily %    YTD %
                                       change   change
 Brazil real                  2.7246    -1.40   -13.50
 Mexico peso                 14.8100    -0.34   -12.02
 Chile peso                 622.2000     -      -15.45
 Colombia peso                0.0000     -        -
 Peru sol                     2.9660     -       -5.83
 Argentina peso               8.5500     0.03   -24.06
 Argentina peso              13.1200    -2.06   -23.78

 (Reporting by Asher Levine; Editing by Jeffrey Benkoe)