EMERGING MARKETS-Brazil real hit by Moody's concern, Mexico peso slumps

jueves 10 de diciembre de 2015 19:00 GYT
 

(Recasts with peso losses on oil slump, updates prices)
    By Bruno Federowski
    SAO PAULO, Dec 10 (Reuters) - Brazil's real sank and stocks
fell on Thursday on concern Moody's Investors Service will cut
the country's debt ratings to junk, while Mexico's peso weakened
to an 11-week low as oil prices dropped to their lowest since
2009.
    The Brazilian real bid 1.7 percent weaker and the
benchmark Bovespa stock index fell more than 1 percent
after Moody's warned it may downgrade the country's Baa3 rating.
    Risks of political turmoil have escalated after the lower
house opened impeachment proceedings against President Dilma
Rousseff, Moody's said. 
    Many traders had prepared for another downgrade into junk
following Standard & Poor's September decision. 
    "The event of losing two investment grade ratings is widely
anticipated as political crisis and stagflation continues with
no improvement on restoring the fiscal anchor," said Siobhan
Morden, head of Latin America fixed-income strategy at Nomura
Securities in New York.
    Moody's also cut the rating of Petroleo Brasileiro SA, or
Petrobras, deeper into junk, citing weak oil prices
and a stalled asset sale program. Shares fell 2.6 percent.
 
    The Mexican peso weakened 0.8 percent as oil prices
  fell on concerns of global supply glut, while a
stronger dollar weighed on commodities. Mexico is a major crude
oil producer and exporter to the United States. 
    Mexico's central bank sold $200 million in an auction to
support the peso. 
    
    Latin American stock indexes at 2230 GMT:
      
 Latin American market prices from                             
 Reuters                                                
                                                        
 Stock indexes                                 daily %    YTD %
                                                change   change
                                    Latest              
 MSCI Emerging Markets                 789.02    -0.78   -17.49
 MSCI LatAm                           1914.51    -1.09   -29.81
 Brazil Bovespa                     45630.709    -1.04    -8.75
                                           31           
 Mexico IPC                          42447.77     0.12    -1.62
 Chile IPSA                           3564.32     0.14    -7.44
 Chile IGPA                           17625.5     0.13    -6.60
 Argentina MerVal                   13106.529    -1.47    52.77
 Colombia IGBC                        8029.09     1.18   -30.99
 Venezuela IBC                       14885.17     1.57   285.75
                                                               
 
 (Additional reporting by Miguel Angel Gutierrez in Mexico City;
Editing by James Dalgleish)