EMERGING MARKETS-Colombia peso sinks for 2nd day; miners support Brazil bourse

martes 6 de enero de 2015 13:44 GYT

RIO DE JANEIRO, Jan 6 (Reuters) - The Colombian peso sold
off for a second consecutive day on Tuesday as oil prices fell
further, although other Latin American currencies moved up as
markets recovered part of recent losses.
    In Brazil, shares of mining and steel companies drove the
benchmark Bovespa index higher while the real 
erased early losses to gain 0.4 percent, in a move largely seen
by analysts as a technical rebound.
    The real and the Mexican peso are "correcting from previous
weakness," analysts with 4Cast consultancy wrote in a note to
    "Sustained gains will depend on U.S. ADP data tomorrow,"
they added, referring to private-sector jobs data that could
help U.S. policymakers determine the future of U.S. interest
    Mexico's peso rose 0.5 percent. Both the Mexican and the
Brazilian currencies had weakened around 0.5 percent in the
previous session.
    The Colombian peso plunged more than 1 percent,
however, as investors expect the local economy to suffer with
falling prices of oil, the country's main export product. 
    Global oil prices slid for a fourth consecutive session on
Tuesday but iron ore prices recovered in China as bad weather in
Australia, the world's biggest producing nation, threatened to
disrupt shipments. 
    Shares of Brazilian miners and steel makers rose as a
result. Vale SA, the world's largest iron ore
producer, jumped 3 percent while steel maker Gerdau SA
 gained 2.8 percent. 
    Key Latin American stock indexes and currencies at 1720 GMT:
 Stock indexes                   daily %    YTD %
                                  change   change
 MSCI Emerging           932.58    -0.86    -1.63
 MSCI LatAm             2565.21     0.31    -6.25
 Brazil Bovespa         47508.6    -0.02    -5.00
 Mexico IPC            40903.24    -0.48    -5.20
 Chile IPSA             3786.49     -0.3    -1.67
 Chile IGPA            18608.45    -0.25    -1.39
 Argentina MerVal       8007.53    -1.43    -6.66
 Colombia IGBC         10823.19    -0.35    -6.97
 Peru IGRA             14635.97     0.65    -1.07
 Venezuela IBC          3980.76     1.13     3.16
 Currencies                      daily %    YTD %
                                  change   change
 Brazil real             2.6984     0.36    -1.52
 Mexico peso             14.877     0.50    -0.89
 Chile peso              616.25     0.08    -1.60
 Colombia peso          2455.09    -1.05    -2.73
 Peru sol                 2.984     0.10    -0.17
 Argentina peso          8.5700    -0.06    -0.23
 Argentina peso            13.7     0.36     2.19

 (Reporting by Walter Brandimarte; Editing by Meredith Mazzilli)