EMERGING MARKETS-Latin America currencies buoyed by broad dollar fall
SAO PAULO, May 12 (Reuters) - Latin American currencies strengthened across the board on Tuesday, buoyed by global dollar weakness on a rise in German bond yields, while local stock markets moved slightly lower. German bond yields rose on optimism that inflation may have bottomed in the euro region, helping put the brakes on a recent dollar rally and lending support to slumping Latin American currencies. The Brazilian real clawed back part of the previous day's losses, rising about 1 percent to trade near 3.02 per dollar. "Volatility is still high but it seems like this level is more or less equilibrium," said Reginaldo Siaca, head of currency trading at brokerage TOV in Sao Paulo. Every other major Latin American currency gained as well, with the Chilean peso boosted by higher prices for copper , the country's main export. In equity markets, Brazil's Bovespa stock index was little-changed as a modest decline in shares of iron-ore producer Vale SA offset a nearly 7 percent gain in private university operator Kroton Educacional SA. Kroton reported a 57 percent rise in first-quarter net income before market open on Tuesday. The broader MSCI Latin American stock index eased about 0.25 percent lower. Key Latin American stock indexes and currencies at 1643 GMT: Stock indexes daily % YTD % Latest change change MSCI Emerging Markets 1030.38 -0.54 8.34 MSCI LatAm 2718.15 -0.31 -0.04 Brazil Bovespa 57079.18 -0.21 14.14 Mexico IPC 44978.28 -0.45 4.25 Chile IPSA 4124.98 -0.48 7.12 Chile IGPA 19979.85 -0.45 5.88 Argentina MerVal 12250.13 1.19 42.79 Colombia IGBC 10608.74 -0.25 -8.82 Peru IGRA #N/A The #N/A The #VALUE! record record could not could be found not be found Venezuela IBC 5593.8 -1.73 104.41 Currencies daily % YTD % change change Latest Brazil real 3.0236 0.94 -22.05 Mexico peso 15.3143 0.28 -14.92 Chile peso 603.3 1.08 -12.80 Colombia peso 2370.05 0.63 -18.48 Peru sol 3.1521 0.03 -11.39 Argentina peso 8.9350 -0.03 -27.34 (interbank) Argentina peso 12.49 0.24 -19.94 (parallel) (Reporting by Asher Levine and Bruno Federowski Editing by W Simon)
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