EMERGING MARKETS-Brazil's real crosses 2.80 mark, weakest in 10 years

martes 10 de febrero de 2015 11:35 GYT

SAO PAULO, Feb 10 (Reuters) - The Brazilian real
  dropped to its weakest level since late 2004 on
Tuesday on disappointing economic data from top trade partner
China and concerns over the health of Latin America's largest
    Other currencies in the region also weakened, while the MSCI
Latin American stock index erased the previous
session's gains.  
    The real was trading near the 2.82 per dollar level in the
early afternoon after flirting with, but not surpassing, 2.80 in
the previous session.
    Data on Tuesday showed China's annual consumer inflation hit
a five-year low in January, adding to concerns the government
will move to cool demand in the biggest market for Latin
American raw-material exports. 
    The data added to an already somber mood in Brazil, with
investors increasingly concerned about stagnant economic growth
and skeptical of the government's ability to control spending
and reduce its budget deficit.
    In addition, influential money manager Luis Stuhlberger
wrote in a client letter on Tuesday that he sees a "perfect
alignment of negative circumstances that could trigger a
currency depreciation." 
    Recent volatility in the real could also scare off foreign
investors looking to profit from the Brazil carry trade, said
Joao Paulo de Gracia Correa, a broker with Correparti Curitiba,
    Other Latin American currencies weakened more modestly, with
Chile's peso down 0.45 percent on lower prices for copper
, the country's main export.  
    Brazil's Bovespa stock index fell for the third
session in four, driven mostly by profit-taking in shares of
mining firm Vale SA. 
    Key Latin American stock indexes and currencies at 1521 GMT:
 Stock indexes                           daily %     YTD %
                             Latest       change    change
 MSCI Emerging Markets           966.7     -0.63      1.73
 MSCI LatAm                    2602.51     -1.18     -3.45
 Brazil Bovespa               49025.19     -0.72     -1.96
 Mexico IPC                   43053.54      0.57     -0.21
 Chile IPSA                    3920.74     -0.08      1.81
 Chile IGPA                   19094.56     -0.05      1.19
 Argentina MerVal              9049.56     -0.77      5.48
 Colombia IGBC                10867.57     -0.74     -6.59
 Peru IGRA                    13594.64     -0.19     -8.11
 Venezuela IBC                 3494.12         0     -9.45
 Currencies                              daily %     YTD %
                                          change    change
 Brazil real                    2.8195     -1.52     -5.75
 Mexico peso                   14.9308     -0.64     -1.25
 Chile peso                      626.6     -0.45     -3.22
 Colombia peso                 2383.04     -0.75      0.21
 Peru sol                         3.07     -0.16     -2.96
 Argentina peso                 8.6650      0.03     -1.33
 Argentina peso                  13.14      0.30      6.54
 (Reporting by Asher Levine; Editing by Meredith Mazzilli)