EMERGING MARKETS-Latam stocks, currencies seesaw in holiday-thinned trade

lunes 30 de mayo de 2016 11:22 GYT
 

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)