EMERGING MARKETS-Latam currencies strengthen on oil price recovery
(Updates prices) By Bruno Federowski SAO PAULO, Dec 23 (Reuters) - Most Latin America currencies strengthened in thin trading on Wednesday as a recovery in oil prices boosted the demand for risky assets ahead of this week's Christmas holiday. Crude prices extended their recovery from 11-year lows after an unexpected drop in U.S. oil stocks, dragging other commodities along. Expectations of fresh stimulus in China, the world's biggest consumer of metals, also helped lift sentiment. The Brazilian real advanced 0.91 percent against the dollar, a two-day surge in which the currency has risen 1.75 percent. The Colombian peso rose 2.96 percent. Trading volumes were thin as many investors were away ahead of Christmas holiday later this week. Most Latin American markets will close early on Thursday and will not open on Friday. "Markets are winding down ahead of the holidays," Scotiabank analysts wrote in a client note. Latin American stock indexes and currencies at 2140 GMT: Stock indexes daily % YTD % Latest change change MSCI Emerging Markets 803.13 1.07 -16.02 MSCI LatAm 1858.83 1.79 -31.85 Brazil Bovespa 44014.93404 1.25 -11.98 Mexico IPC 43579.67 0.58 1.01 Chile IPSA 3661.24 1.47 -4.93 Chile IGPA 18047.66 1.27 -4.36 Argentina MerVal 12040.85 5.25 40.35 Colombia IGBC 8645.56 2.89 -25.69 (Reporting by Bruno Federowski Editing by W Simon)
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