EMERGING MARKETS-Mexican stocks rally on Greece bailout extension

viernes 20 de febrero de 2015 16:53 GYT
 

RIO DE JANEIRO, Feb 20 (Reuters) - Mexican stocks gained
late on Friday, with investor appetite for riskier assets
boosted by news that euro zone finance ministers reached an
agreement to extend financial aid to Greece for an additional
four months.
    Other Latin American stock and currency markets closed
before news of the Greek deal broke, ending lower as investors
were mostly skeptical before the deal was confirmed.
    Mexico's IPC stock index gained 0.8 percent late on
Friday as the agreement removed the immediate risk of Greece
running out of money next month and possibly being forced out of
the euro zone. 
    Brazil's benchmark Bovespa index was already closed
when news of the deal broke. The index ended 0.1 percent lower,
a sign that investors were unconvinced that an agreement would
be possible after a prolonged stand-off with Germany.
    "After so much drama, investors became more skeptical,"
Jaime Ferreira, head of currency trading at Sao Paulo brokerage
Intercam, said before Greece's bailout extension. 
    Weighing on the Bovespa index was a 3.5 percent drop in
shares of TIM Participacoes, the country's
second-largest mobile network operator. 
    Telecom Italia, TIM's parent company, on Friday said it will
spend billions of dollars in the next three years to upgrade its
mobile network in Brazil. It also played down prospects of
making new acquisitions. 
    Shares of Brazil's state-run oil firm Petrobras also weighed
on the Bovespa index as they closed 0.8 percent lower. Analysts
are recommending investors avoid Petrobras stock as they are
likely to keep suffering from the negative news related to an
ongoing corruption investigation into the company.
    In an interview with Reuters, Moody's senior analyst Mauro
Leos said Petrobras could cost the Brazilian Treasury as much as
5 percent of the country's gross domestic product, in case a
bailout is needed. 
    
    Key Latin American currencies and stock indexes at 2030 GMT
    
 Stock indexes                  daily %    YTD %
                                 change   change
                     Latest              
 MSCI Emerging           982.9    -0.22     3.01
 Markets                                 
 MSCI LatAm            2632.45    -0.24    -3.26
                                         
 Brazil Bovespa        51237.7    -0.11     2.46
                                         
 Mexico IPC           43561.43     0.76     0.96
                                         
 Chile IPSA            3994.14    -0.05     3.72
                                         
 Chile IGPA           19430.81    -0.06     2.97
                                         
 Argentina MerVal     9436.739     0.51    10.00
                                         
 Colombia IGBC        10499.56    -1.11    -9.76
                                         
 Peru IGRA            13725.06    -0.99    -7.23
                                         
 Venezuela IBC         3415.27    -2.53   -11.49
                                         
                                                
 Currencies                     daily %    YTD %
                                 change   change
                        Latest           
 Brazil real            2.8773    -0.44    -7.64
                                         
 Mexico peso           15.0167    -0.11    -1.82
                                         
 Chile peso              615.5     0.32    -1.48
                                         
 Colombia peso         2458.15    -0.58    -2.85
                                         
 Peru sol                3.085     0.03    -3.44
                                         
 Argentina peso         8.7000    -0.03    -1.72
 (interbank)                             
                                         
 Argentina peso          13.02    -1.31     7.53
 (parallel)                              
                                         
 
 (Reporting by Walter Brandimarte in Rio de Janeiro and Bruno
Federowski in Sao Paulo; Editing by Chizu Nomiyama)