EMERGING MARKETS-Brazil stocks rally with steelmakers; real trims gains

miércoles 7 de enero de 2015 13:45 GYT

SAO PAULO, Jan 7 (Reuters) - Brazil's benchmark Bovespa
stock index rose nearly 4 percent on Wednesday as investor
appetite for risk increased and steelmakers rallied for a second
straight day, boosted by reports of steel price increases in the
domestic market.
    Other Latin American bourses and currencies also posted
gains as bets that the European Central Bank will unleash
another round of monetary stimulus fueled appetite for risk
across the globe. 
    Some of that optimism fizzled, however, after data showed
U.S. private employers added more jobs than expected in
December, suggesting interest rates may soon go up in the
world's largest economy.
    The Brazilian real trimmed gains following the U.S.
jobs data. It last traded 0.3 percent stronger after jumping as
much as 1 percent earlier.
    Brazil's Bovespa index climbed 3.9 percent as shares
of heavyweight banks such as Itau Unibanco and
Bradesco jumped 5 percent.
    Stocks of steelmaker Companhia Siderurgica Nacional
 soared 10 percent while peers Usiminas and
Gerdau rose more than 7 percent each on reports that
the companies were raising steel prices in Brazil by 5 percent
to 8 percent.
    "We see the announcements as positive, but highlight hikes
were somewhat expected," analysts with Bank of America Merrill
Lynch wrote in a report.  
    Key Latin American stock indexes and currencies at 1735 GMT:
 Stock indexes                   daily %    YTD %
                                  change   change
 MSCI Emerging           941.75     0.75    -2.26
 MSCI LatAm             2659.37     2.62       -5
 Brazil Bovespa        49852.98     3.86    -0.31
 Mexico IPC            41811.95     1.17    -3.09
 Chile IPSA             3789.26     0.33    -1.60
 Chile IGPA            18611.42     0.27    -1.37
 Argentina MerVal       8150.77     1.15    -4.99
 Colombia IGBC         10904.58     0.42    -6.27
 Peru IGRA             14536.12    -0.03    -1.75
 Venezuela IBC          3944.39    -0.91     2.22
 Currencies                      daily %    YTD %
                                  change   change
 Brazil real             2.6925     0.32    -1.30
 Mexico peso            14.7707     0.84    -0.18
 Chile peso              615.25     0.16    -1.44
 Colombia peso           2422.1     1.07    -1.41
 Peru sol                 2.987    -0.13    -0.27
 Argentina peso          8.5850    -0.12    -0.41
 Argentina peso            13.8    -0.14     1.45
 (Reporting by Paula Laier and Walter Brandimarte; Editing by
Meredith Mazzilli)