EMERGING MARKETS-China data boosts Latam currencies; Petrobras up on tax change

martes 20 de enero de 2015 09:56 GYT

SAO PAULO, Jan 20 (Reuters) - Better than expected economic
growth data from China supported Latin American currencies on
Tuesday, while shares of Brazilian energy firms such as
state-run oil producer Petrobras gained following a change in
fuel taxes.
    The MSCI Latin American stock index erased
most of the previous session's losses.
    China, Brazil's top trade partner and a major purchaser of
Latin American commodity exports, reported a slowdown in the
pace of economic growth on Tuesday, though the data was slightly
better than many expected. 
    That helped support risk appetite for Latin American assets
and boosted the price of copper, Chile's main export. 
    The Chilean peso strengthened its most in nearly two
weeks, while the Brazilian real reversed nearly all of
the previous session's decline.
    Yields on Brazilian interest rate futures <0#DIJ:> fell at
the long end of the curve, with traders citing the government's
announcement of new tax measures late on Monday aimed at shoring
up the nation's fiscal accounts.
    Preferred shares of Petroleo Brasileiro SA, as
Petrobras is formally known, gained over 6 percent after the
company said it would pass higher taxes onto consumers rather
than absorb them itself. 
    Shares of ethanol producer Cosan SA rose their
most since October with the biofuel expected to become more
competitive in the marketplace compared to gasoline.
    Colombia's peso ended a four-day rally, weighed down
by a further drop in already-low prices for oil, the
country's top export.

    Key Latin American stock indexes and currencies at 1332 GMT:
 Stock indexes                           daily %     YTD %
                             Latest       change    change
 MSCI Emerging Markets          958.78      0.66      -0.4
 MSCI LatAm                    2648.66      1.05     -3.91
 Brazil Bovespa               48507.99      1.57     -3.00
 Mexico IPC                          0         0   -100.00
 Chile IPSA                    3738.88      0.14     -2.91
 Chile IGPA                   18416.52      0.12     -2.41
 Currencies                              daily %     YTD %
                                          change    change
 Brazil real                    2.6255      1.10      1.22
 Mexico peso                    14.613      0.03      0.90
 Chile peso                      626.8      0.19     -3.25
 Colombia peso                  2369.8     -0.75      0.77
 Peru sol                        3.014      0.00     -1.16
 (Reporting by Asher Levine; Editing by Chizu Nomiyama)