EMERGING MARKETS-Brazil stocks sink to 2009 low on finance minister shake up

viernes 18 de diciembre de 2015 18:31 GYT
 

SAO PAULO, Dec 18 (Reuters) - Latin American stocks fell on
Friday on worries about global growth and a drop in oil prices,
while Brazilian markets were poised for more losses next week
after a leftist economist was named finance minister to replace
a fiscal conservative.
    After local market close, Brazilian President Dilma Rousseff
tapped close aid Nelson Barbosa to replace Finance Minister
Joaquim Levy, signaling a potential break with deficit-cutting
policies. 
    Earlier, Brazil's benchmark Bovespa stock index sank
nearly 3 percent, breaking past a key support level to close at
its lowest level since early 2009, amid rumors of Levy's
departure while the real currency also tumbled.
    Analysts said concerns about policy may continue to weigh.
    "The market will see this negatively. Barbosa is seen as
more lenient, less radical when it comes to fiscal adjustment,"
said Andre Perfeito, Chief Economist, Gradual Investments.
    Seeking to contain those fears, Barbosa said late Friday he
will maintain the fiscal stability needed to pull Latin
America's biggest economy out of recession. 
    Other Latin American stocks fell, tracking U.S. stocks lower
as crude prices posted their third straight weekly loss, and
stock and index options contracts expired.
    Mexico's peso  weakened, trading past the 17
per dollar level even after the country's central bank hiked
interest rates on Thursday, matching the magnitude of the U.S.
Federal Reserve's move, in a bid to support the peso.
 
        
    Latin American stock indexes and currencies at 2130 GMT:
 Latin American market prices                              
 from Reuters                                       
 Stock indexes                  Latest       Daily  YTD pct
                                               pct   change
                                            change  
 MSCI Emerging Markets             789.71    -1.11   -17.42
                                                    
 MSCI LatAm                       1,860.5    -1.74   -31.79
 Brazil Bovespa                 43,910.59    -2.98   -12.19
                                      841           
 Mexico IPC                     42,936.63     -1.3    -0.48
 Chile IPSA                      3,626.47       -1    -5.83
 Chile IGPA                     17,897.21    -0.84    -5.16
 Argentina MerVal               11,404.56    -4.47    32.94
 Colombia IGBC                   8,498.79    -0.09   -26.95
 Venezuela IBC                  14,403.59    -0.41   273.27
                                                           
 Currencies                        Latest    Daily  YTD pct
                                               pct   change
                                            change  
 Brazil real                       3.9842    -0.97   -33.30
 Mexico peso                        17.12    -0.41   -13.88
 Chile peso                         698.7     1.37   -13.21
 Colombia peso                      3,328     0.51   -28.25
 Peru sol                           3.377     0.03   -11.79
 Argentina peso (interbank)       13.0500     2.53   -34.48
                                                    
 Argentina peso (parallel)          14.15     1.48    -1.06
                                                    
 
 (Reporting by Paula Arend Laier and Anthony Boadle. Writing by
Michael O'Boyle; Editing by Diane Craft)