EMERGING MARKETS-Brazil stocks edge higher on oil prices
SAO PAULO, Dec 29 (Reuters) - Brazil's Bovespa stock index rose for the fourth session in five on Monday, boosted by higher prices for oil and iron-ore, two of the country's main export products. Other Latin American stock indexes edged higher, while the region's currencies were mixed in thin trading. Brent crude oil rose to around $60 per barrel on Monday, supported by concerns about disruption to output from Libya due to a rocket attack last week on oil storage tanks. Iron ore prices .IO62-CNI=SI also moved higher after reaching 4-1/2 year lows last week. The price moves helped boost shares of Brazil's state-run oil producer Petroleo Brasileiro SA, known as Petrobras, and iron-ore miner Vale SA. "Commodities are up today and that is positive for our market," said Thiago Montenegro, a trader with Quantitas Asset Management in Porto Alegre, Brazil. He also warned that the day could see higher volatility due to very thin trading volumes ahead of the New Year holiday. Brazil's currency, the real, weakened about 0.5 percent against the dollar, though not enough to erase the previous session's gains. Trading volume was low, with most market participants awaiting an announcement from Brazil's central bank over expected modifications to its daily currency intervention program. The bank has helped support the real by providing hedging protection to local businesses via currency swaps, though it remains unclear how the program will be scaled down next year. "The market already did what it had to do last week and at this point no one is opening new positions," said Reginaldo Gallardo, head of currency trading at Treviso Corretora in Sao Paulo. Key Latin American stock indexes and currencies at 1543 GMT: Stock indexes daily % YTD % Latest change change MSCI Emerging Markets 958.15 0.59 -5 MSCI LatAm 2728.35 0.56 -15.23 Brazil Bovespa 50527.19 0.76 -1.90 Mexico IPC 43243.97 0.56 1.21 Chile IPSA 3848.41 0.78 4.03 Chile IGPA 18844.35 0.62 3.39 Argentina MerVal 8519.279 1.73 58.03 Colombia IGBC 11673.49 0.28 -10.69 Peru IGRA 14632.72 -0.25 -7.12 Venezuela IBC 3794.02 0 38.64 Currencies daily % YTD % change change Latest Brazil real 2.6860 -0.51 -12.26 Mexico peso 14.707 0.09 -11.40 Chile peso 606.3 0.16 -13.23 Colombia peso 2380 -0.55 -18.82 Peru sol 2.986 -0.20 -6.46 Argentina peso 8.5525 0.00 -24.09 (interbank) Argentina peso 13.53 -1.11 -26.09 (parallel) (Reporting by Flava Bohone and Priscila Jordao; Writing by Asher Levine; Editing by Nick Zieminski)
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