EMERGING MARKETS-Brazil rises on Petrobras price, cabinet shake-up

miércoles 30 de septiembre de 2015 10:29 GYT

SAO PAULO, Sept 30 (Reuters) - Brazil's financial markets
rose on Wednesday, with the Bovespa stock index boosted by a
fuel price increase at state-run oil firm Petrobras and the
currency up on a potential shake-up in President Dilma
Rousseff's cabinet.
    Other Latin American financial markets rose as well as
investors took advantage of historic lows in asset prices.
    Preferred and common shares of Petroleo Brasileiro SA
 , as Petrobras is formally known, jumped
more than 7 percent after the company said late Tuesday it would
increase the price it charges for fuel at the refinery gate.
    Investors saw it as welcome news for the heavily-indebted
company, which has struggled this year with the fallout from a
massive corruption investigation.
    The advance in Petrobras shares helped put the battered
benchmark Bovespa index on track for its biggest
intraday gain in two weeks.
    The broader MSCI Latin American stock index,
which has been plumbing a nearly 7-year low in recent days, rose
by its most in over a month.
    Brazil's real rose 1.5 percent against the dollar,
with traders citing a Reuters report that President Rousseff
will replace Chief of Staff Aloizio Mercadante in an attempt to
end bickering within her ruling coalition. 
    Political gridlock in Brasilia has prevented the enactment
of the major fiscal reforms needed to stave off further
sovereign credit rating downgrades, dragging on the currency.
    Yields on Brazilian interest rate futures <0#DIJ:> fell
sharply across the curve as the rebound in the real, which has
weakened 33 percent against the dollar this year, eased the
outlook for inflation.
    Elsewhere in Latin America, Chile's peso rose about
0.8 percent on higher prices for copper, the country's
main export. 
    Colombia's peso rose by the same amount, boosted by
higher prices for its major export good petroleum.

    Key Latin American stock indexes and currencies at 1418 GMT:
 Stock indexes                        daily %    YTD %
                             Latest    change   change
 MSCI Emerging Markets        791.71     1.98   -18.82
 MSCI LatAm                  1888.51     3.13   -32.87
 Brazil Bovespa           45127.0286     2.26    -9.76
 Mexico IPC                 42542.43        1    -1.40
 Chile IPSA                  3697.21     1.09    -3.99
 Chile IGPA                 18123.67     0.93    -3.96
 Argentina MerVal                  -        -       -1
 Colombia IGBC               9225.81     0.91   -20.70
 Venezuela IBC                     -        -        -
 Currencies                           daily %    YTD %
                                       change   change
 Brazil real                  4.0061     1.29   -33.66
 Mexico peso                 16.9195     0.62   -12.86
 Chile peso                    697.9     0.77   -13.11
 Colombia peso                  3082     0.77   -22.52
 Peru sol                      3.218     0.50    -7.43
 Argentina peso               9.4150     0.00    -9.19
 Argentina peso                15.95     0.38   -12.23

 (Reporting by Bruno Federowski and Asher Levine; Editing by
Grant McCool)