EMERGING MARKETS-Latam stocks gain on hope Fed may delay rate hike

jueves 15 de enero de 2015 13:38 GYT

RIO DE JANEIRO, Jan 15 (Reuters) - Latin American stocks
rose on Thursday on bets the U.S. Federal Reserve may take
longer to raise rates while the European Central Bank prepares
to launch a massive bond-buying program.
    Prospects that global liquidity may remain ample throughout
the year encouraged investors to buy riskier, higher-yielding
emerging market assets despite volatility in the price of oil
and other commodities.
    Some investors bet the Fed may avoid raising rates this year
after data on the U.S. mid-Atlantic region from the Philadelphia
Federal Reserve showed business activity weakened
more-than-expected in January. 
    "Prospects for more European (monetary) stimulus and for
interest rates to remain low for longer in the United States are
favorable to the Brazilian market," said Alfredo Barbutti, chief
economist with BGC brokerage in Brazil. 
    Brazil's benchmark Bovespa stock index climbed 1.4
percent, boosted by a 9 percent jump in shares of state-run oil
company Petroleo Brasileiro SA.
    Petrobras, as the Brazilian oil firm is known, said after
markets closed on Wednesday that it intends to release its
third-quarter earnings on Jan. 27. The results have been delayed
since November as PricewaterhouseCoopers refused to certify
Petrobras' accounts after a corruption scandal raised questions
about the value of its assets. 
    Other Latin American bourses posted more modest gains, with
Mexico's IPC stock index gaining 0.3 percent after data
showed domestic consumer spending rose 1.1 percent in October
from September, suggesting the economy is gaining traction.
    "Mexican economic growth has accelerated materially from its
subdued 2013-2014 pace, and should register a very solid year in
2015," said Bill Adamns, senior international economist for PNC
Financial Services Group.

    Key Latin American stock indexes and currencies at 1520 GMT:
 Stock indexes                    daily %    YTD %
                                   change   change
 MSCI Emerging            960.69     0.52    -0.06
 MSCI LatAm              2634.53     0.21    -3.62
 Brazil Bovespa         48329.21     1.43    -3.36
 Mexico IPC             41004.94     0.05    -4.96
 Chile IPSA              3756.22     0.19    -2.46
 Chile IGPA             18489.46     0.16    -2.02
 Argentina MerVal         8567.1     1.68    -0.14
 Colombia IGBC          10581.26     0.11    -9.05
 Peru IGRA              13644.96     1.06    -7.77
 Venezuela IBC              3929        0     1.82
 Currencies                       daily %    YTD %
                                   change   change
 Brazil real              2.6325    -0.45     0.95
 Mexico peso             14.6132    -0.87     0.90
 Chile peso                625.5     0.08    -3.05
 Colombia peso           2408.14     0.70    -0.84
 Peru sol                  2.999    -0.10    -0.67
 Argentina peso           8.5950     0.00    -0.52
 Argentina peso             13.6     0.15     2.94

 (Reporting by Walter Brandimarte; editing by Andrew Hay)