Latam stocks down; Brazil real weakens after minister switch

lunes 21 de diciembre de 2015 21:56 GYT

By Bruno Federowski
    SAO PAULO, Dec 21 (Reuters) - Latin American stocks were
mostly weaker on Monday as oil prices hit new lows and after
Brazil's appointment of a leftist economist as finance minister
raised concerns about the path that would be charted for the
    The decline came even as Chinese stocks rose and China
pledged additional policy support, which could rekindle the
appetite for high-yielding assets and boost commodity prices.
    The Chilean peso advanced to close to its highest
level in more than a month after a rally in copper prices,
though the country's stock index fell.
    The Colombian peso retreated slightly as oil prices
fell to their lowest level in more than 11 years on fears of
oversupply. The peso fell even though Colombia increased its
benchmark rates on Friday, which some investors believed should
have come sooner.    
    The only stock index in the region that gained was Mexico's
IPC index, boosted by a rise in shares in
telecommunications giant America Movil after it spun
off its cell towers into a new company. 
    The Brazilian real and stock index both fell after
President Dilma Rousseff named Nelson Barbosa as finance
minister, to replace fiscally conservative Joaquim Levy. Traders
saw the appointment as a step back from the fiscal rigor pursued
for most of this year. 
    Latin American stock indexes at 0110 GMT:
 Stock indexes                          daily %   YTD % change
 MSCI Emerging Markets          791.35    -0.01         -17.24
 MSCI LatAm                    1820.39    -2.16         -33.26
 Brazil Bovespa              43199.953    -1.62         -13.61
 Mexico IPC                   43160.61     0.52           0.03
 Chile IPSA                    3600.88    -0.71          -6.49
 Chile IGPA                   17782.74    -0.64          -5.76
 Argentina MerVal             11112.85    -2.55          29.54
 Colombia IGBC                 8408.12    -1.07         -27.73
 Venezuela IBC                14325.48    -0.54         271.25

 (Editing by Lisa Von Ahn and Leslie Adler)