EMERGING MARKETS-Latin American markets edge higher on Fed, steady oil
SAO PAULO, Jan 8 (Reuters) - Latin American financial markets rose on Thursday, the day after the U.S. Federal Reserve indicated it would take its time before raising interest rates even as data showed the job market in the world's largest economy was strengthening. The bourses of Brazil and Mexico rallied more than 1.3 percent. That mirrored gains on Wall Street, where investors bought stock for a second day following a string of positive job data, including a drop in claims for unemployment benefits. Despite signs that the U.S. labor market is gaining traction, investors held on to the Fed's promise to be "patient" before raising rates. That pledge was repeated in the minutes of the bank's latest monetary policy released on Wednesday afternoon, when most Latin American markets were already closed. "The Fed minutes eased market concerns somewhat," said Reginaldo Siaca, head of currency trading at TOV brokerage in Brazil. Also supporting investors' appetite for risk was a second day of stable oil prices, following a recent sell-off that took Brent crude to its lowest since April 2009. In Brazil, a government decision to limit discretionary spending until Congress approves this year's budget also encouraged investors, contributing to a 0.75 percent rise in the real. Key Latin American stock indexes and currencies at 1600 GMT: Stock indexes daily % YTD % change change Latest MSCI Emerging 959.46 1.94 -1.58 Markets MSCI LatAm 2698.29 2.01 -3.02 Brazil Bovespa 50175.06 1.44 0.34 Mexico IPC 42486.11 1.61 -1.53 Chile IPSA 3789.12 0.33 -1.61 Chile IGPA 18625.39 0.28 -1.30 Argentina MerVal 8355.109 1.32 -2.61 Colombia IGBC 10936.14 0.3 -6.00 Peru IGRA 14511.25 0.15 -1.91 Venezuela IBC 3944.39 0 2.22 Currencies daily % YTD % change change Latest Brazil real 2.6780 0.90 -0.77 Mexico peso 14.638 0.54 0.72 Chile peso 612.1 0.51 -0.93 Colombia peso 2397.5 1.31 -0.40 Peru sol 2.989 0.03 -0.33 Argentina peso 8.5900 -0.06 -0.47 (interbank) Argentina peso 13.81 0.29 1.38 (parallel) (Reporting by Bruno Federowski and Walter Brandimarte)
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