EMERGING MARKETS-Colombia's peso spikes on higher oil prices

martes 9 de junio de 2015 12:37 GYT
 

SAO PAULO, June 9 (Reuters) - Colombia's peso rose the most
in nearly eight weeks on Tuesday, driven by higher prices for
oil, the country's biggest export.
    Other Latin American currencies advanced less sharply
against the dollar, while the MSCI Latin American stock index
 added 1.2 percent, rising for a second straight
day.
    The Colombian peso had weakened about 10 percent over
the last month, hit by expectations for higher interest rates in
the United States. In the last 12 months, the currency lost 39
percent of its value, mainly linked to lower oil prices.
    The currency recovered part of those losses on Tuesday as
oil prices rose, driven by higher seasonal demand in
developed economies and expectations of falling U.S. shale
production. 
    "It's an adjustment to the international scenario after the
public holiday we had yesterday, given the large bounce in
commodities prices, especially oil," said Fernando Chacon,
foreign exchange analyst at the Acciones y Valores brokerage in
Bogota.
    "We should have relative stability at current levels until
the Fed meeting, given this week there will be no important
fundamental data," he said.
    Chile's peso, which is more sensitive to copper
prices, also gained on Tuesday as the red metal's price rose the
most in nearly a month. Copper is Chile's primary export.
    Brazil's real  moved slightly higher against the
dollar as the government announced a concession program aimed at
drawing about $64 billion in private investment. 
    Equities markets were mixed, though Brazil's benchmark
Bovespa index was on track to end a three-session slump,
boosted by shares of state-run oil producer Petroleo Brasileiro
SA, known as Petrobras.
    Shares of private education firms Kroton Educacional SA
 and Estacio Participacoes SA advanced
after Brazil's education minister announced the extension of a
popular government student loan program. 
    
    Key Latin American stock indexes and currencies at 1537 GMT:

 Stock indexes                           daily %     YTD %
                             Latest       change    change
 MSCI Emerging Markets          971.62     -0.56      2.17
                                                  
 MSCI LatAm                    2521.46      1.15     -8.62
                                                  
 Brazil Bovespa               53139.06      0.62      6.26
                                                  
 Mexico IPC                   44471.21     -0.16      3.07
                                                  
 Chile IPSA                     3923.6     -0.59      1.89
                                                  
 Chile IGPA                    19141.3     -0.52      1.44
                                                  
 Argentina MerVal            11391.359       1.7     32.78
                                                  
 Colombia IGBC                 10288.5     -0.18    -11.57
                                                  
 Peru IGRA                 -            -            -
                                                  
 Venezuela IBC                13029.64      3.28    237.67
                                                  
                                                          
 Currencies                              daily %     YTD %
                                          change    change
                                Latest            
 Brazil real                    3.1007      0.23    -14.29
                                                  
 Mexico peso                    15.556      0.49     -5.22
                                                  
 Chile peso                      625.6      0.86     -3.07
                                                  
 Colombia peso                  2564.7      1.69     -6.89
 Peru sol                       3.1511      0.13     -5.46
                                                  
 Argentina peso                 9.0150      0.06     -5.16
 (interbank)                                      
                                                  
 Argentina peso                  12.57      0.40     11.38
 (parallel)                                       
                                                  
 

 (Reporting by Nelson Bocanegra in Bogota and Asher Levine in
Sao Paulo; Editing by Jeffrey Benkoe)