EMERGING MARKETS-Latam stocks, currencies seesaw in holiday-thinned trade
By Bruno Federowski SAO PAULO, May 30 (Reuters) - Latin American stocks and currencies seesawed on Monday on thin trading volume due to market holidays in the United States and the United Kingdom. U.S. and U.K. markets were closed for the Memorial Day and spring bank holidays, respectively. "Local markets get stale when U.S. markets are closed," said João Paulo de Gracia Corrêa, a trader with SLW brokerage in Brazil. The Brazilian real rose 0.4 percent after weakening more than 2 percent last week, while the Mexican peso declined 0.2 percent. Latin American markets fell on Friday after U.S. Federal Reserve Chair Janet Yellen hinted the central bank could increase rates soon, reducing the allure of high-yielding bonds. Concerns that interim Brazilian President Michel Temer could struggle to pass austerity measures in Congress helped drive the country's benchmark Bovespa stock index lower on Monday. Shares of state-controlled oil company Petroleo Brasileiro SA slipped 0.3 percent, tracking a decline in crude prices. Shares of state-owned lender Banco do Brasil SA rose more than 1 percent after falling to an almost three-month low on Friday. Brazilian Finance Minister Henrique Meirelles said on Monday the government is not in a hurry to sell shares owned by the country's sovereign fund, including about 2 billion reais ($557 million) in the lender's stock. Meirelles had said last week the government would consider dismantling the sovereign fund, triggering a sell-off in Banco do Brasil shares. Key Latin American stock indexes and currencies at 1505 GMT: Stock indexes daily % YTD % change change Latest MSCI Emerging Markets 808.00 -0.04 1.78 MSCI LatAm 2060.69 0.1 12.5 Brazil Bovespa 48898.27 -0.31 12.80 Mexico IPC 46164.89 0.09 7.42 Chile IPSA 3953.57 0.16 7.43 Chile IGPA 19514.77 0.18 7.51 Argentina MerVal 12705.51 -0.17 8.82 Colombia IGBC 9674.23 -0.02 13.18 Venezuela IBC 15453.26 0.67 5.93 Currencies daily % YTD % change change Latest Brazil real 3.5947 0.41 9.80 Mexico peso 18.4820 -0.19 -6.77 Chile peso 689.2 -0.51 2.97 Colombia peso 3061.3 0.22 3.53 Peru sol 3.361 -0.33 1.58 Argentina peso (interbank) 13.9000 0.14 -6.60 Argentina peso (parallel) 14.63 0.27 -2.46 (Reporting by Bruno Federowski; Additional reporting by Paula Arend Laier; Editing by Dan Grebler)
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