EMERGING MARKETS-Latin American markets edge higher on Fed, steady oil

jueves 8 de enero de 2015 12:15 GYT
 

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)