EMERGING MARKETS-Latam currencies retreat modestly on Greece vote

lunes 6 de julio de 2015 10:51 GYT
 

SAO PAULO, July 6 (Reuters) - Latin American currencies
weakened on Monday after Greece overwhelmingly rejected a
bailout offer from creditors, though moves were muted as
investors bet the fallout would be limited.
    Nearly every currency dropped against the dollar. Equities
markets were broadly lower, with the MSCI Latin American stock
index falling for the second straight session.
    Greek electors on Sunday voted to reject the bailout
conditions imposed by international creditors, raising new
doubts about the nation's future in the euro zone and potential
economic contagion in the currency bloc.
    Investors took solace in expectations the European Central
Bank or the U.S. Federal Reserve would act to limit global risk
aversion, wrote Mark Haefele, chief investment officer for UBS
Wealth Management, in a Monday note.
    Colombia's peso posted the biggest loss among Latin
American currencies, impacted by a drop in the price for oil
, the nation's top export.
    Chile's peso also declined alongside the price of its
top export, copper.
    Chilean and Mexican stocks  fell slightly,
while Brazil's Bovespa stock index fluctuated between
small gains and losses throughout early trading.
    "The market sees the Greece problems as not having a big
impact here," said Paulo Petrassi, an economist with Leme
Investimentos in Florianopolis, Brazil.
    Gains in the Bovespa were driven by state-run enterprises
Banco do Brasil SA and Petroleo Brasileiro SA
, known as Petrobras. Iron-ore miner Vale SA
 fell about 1 percent, limiting the index's advances.
    Yields on Brazilian interest rate futures <0#DIJ:> rose
across the curve after a weekly central bank survey released on
Monday showed economists expect inflation to close the year at
9.04 percent, up from a 9.0 percent estimate a week earlier.

    Key Latin American stock indexes and currencies at 1441 GMT:
 
 Stock indexes                           daily %     YTD %
                             Latest       change    change
 MSCI Emerging Markets          944.09      -2.1      0.84
                                                  
 MSCI LatAm                    2476.82     -0.48     -8.76
                                                  
 Brazil Bovespa               52595.88      0.15      5.18
                                                  
 Mexico IPC                    44983.2     -0.18      4.26
                                                  
 Chile IPSA                    3826.21     -0.44     -0.64
                                                  
 Chile IGPA                   18675.79     -0.41     -1.03
                                                  
 Argentina MerVal             11619.63     -1.24     35.44
                                                  
 Colombia IGBC                10158.66     -0.27    -12.69
                                                  
 Venezuela IBC                 13366.3      0.05    246.39
                                                  
                                                          
 Currencies                              daily %     YTD %
                                          change    change
                                Latest            
 Brazil real                    3.1432     -0.15    -15.45
                                                  
 Mexico peso                   15.7818     -0.20     -6.58
                                                  
 Chile peso                      641.5     -0.82     -5.47
                                                  
 Colombia peso                  2665.3     -1.14    -10.40
 Peru sol                       3.1791     -0.10     -6.29
                                                  
 Argentina peso                 9.1025      0.00     -6.07
 (interbank)                                      
                                                  
 Argentina peso                  13.43      1.34      4.24
 (parallel)                                       
                                                  
 
 (Reporting by Asher Levine and Bruno Federowski; Editing by
Jeffrey Benkoe)