EMERGING MARKETS-Latam currencies inch up on oil rebound; Brazil assets jump

miércoles 9 de diciembre de 2015 10:52 GYT
 

SAO PAULO, Dec 9 (Reuters) - Most Latin American currencies
inched up on Wednesday after a rebound in oil prices rekindled
investor appetite for commodity-linked currencies, while
Brazilian assets jumped as investors cheered a fresh setback to
leftist President Dilma Rousseff.
    The Mexican peso advanced 0.2 percent as crude prices
rose  on strong Japanese economic data and lower
oil storage figures in the United States, though worries about
global oversupply lingered. 
    The Colombian peso fell 0.3 percent, adjusting to
oil`s slump to 2009 lows on Tuesday, when markets were closed
for a holiday. 
    Brazilian assets outperformed with the real rising
1.7 percent and the benchmark Bovespa stock index 
jumping 3.3 percent.
    Investors cheered after Rousseff's government suffered a new
blow on Tuesday, when the lower house of Congress appointed a
committee full of her opponents to study whether to impeach her.
 
    Some traders believe an impeachment could help Brazil fight
what is likely to be its longest recession since the 1930s by
ushering in more market-friendly policies. 
    Others warn that political wrangling could delay efforts to
cut spending and raise taxes, possibly triggering a downgrade of
the country's sovereign debt.
    "The current interpretation is that yesterday's events
represent a defeat for the government and this is positive for
the market," said João Paulo de Gracia Correa, a trader at
Correparti brokerage in Curitiba. "But it is still too early and
the situation is too premature to have a medium-term
assessment".
    Grupo BTG Pactual SA shares dropped 9 percent to
a record low as investors worried that the arrest of its former
Chief Executive André Esteves could hamper the bank's
performance. The stock has shed more than half its value since
Esteves was taken into custody.
    
    Latin American stock indexes and currencies at 1425 GMT:
 Stock indexes                              daily %    YTD %
                                             change   change
                                Latest               
 MSCI Emerging Markets             795.17     -0.04   -16.82
                                                     
 MSCI LatAm                       1926.92      2.21   -30.88
 Brazil Bovespa                  45920.96      3.32    -8.17
 Chile IPSA                       3570.92     -0.53    -7.27
 Chile IGPA                       17656.6     -0.48    -6.43
 Argentina MerVal                       0         0  -100.00
 Colombia IGBC                    7858.87         0   -32.45
 Venezuela IBC                   14826.65      4.35   284.24
                                                            
 Currencies                                 daily %    YTD %
                                             change   change
                                   Latest            
 Brazil real                       3.7440      1.71   -29.02
                                                     
 Mexico peso                      16.9756      0.22   -13.15
                                                     
 Chile peso                         704.9      0.23   -13.97
 Colombia peso                       3317     -0.29   -28.01
 Peru sol                          3.3761      0.00   -11.76
                                                     
 Argentina peso (interbank)        9.7325     -0.03   -12.15
                                                     
 Argentina peso (parallel)          14.76     -0.20    -5.15
                                                     
 
    

 (Reporting by Bruno Federowski; Editing by Nick Zieminski)