EMERGING MARKETS-Latam stocks, currencies up as Brexit jitters fade

viernes 17 de junio de 2016 12:10 GYT

By Bruno Federowski and Priscila Jordão
    SAO PAULO, June 17 (Reuters) - Most Latin American stocks
and currencies advanced on Friday as traders bet the killing of
a pro-EU British lawmaker could tip the scale in favor of a
"Remain" vote in an impeding referendum over Britain's future in
the European Union.
    Lawmaker Jo Cox was shot and stabbed on Thursday by a man
who witnesses said shouted "Britain first." Both campaigns
suspended operations following the incident and rumors
circulated that the June 23 vote could be delayed. 
    Although economic links between Britain and Latin American
countries are limited, concerns over financial turmoil stemming
from a possible "Leave" victory have weighed on investor
appetite for assets from the region.
    "Potential adverse impacts from a possible 'Brexit' would
stem from lower prices of commodity and weaker rates for the
euro and the pound against the U.S. dollar," INVX Global Asset
Management chief economist Eduardo Velho said.
    Crude prices rose for the first time in seven days, lifting
currencies from oil-producing countries such as the Mexican peso
    Shares of Brazilian state-controlled oil company Petróleo
Brasileiro SA  rose 4.4 percent, adding the
most points to the country's benchmark Bovespa stock index
    Petrobras, as the company is known, received offers for its
fuel distribution unit BR Distribuidora, the company's chief
executive officer told a local TV station.
    Shares of education companies Kroton Educacional SA
 and Estácio Participações SA also advanced
after Reuters reported Kroton could improve terms of a takeover
bid for Estácio. Estácio shares have jumped about 40 percent so
far this month. 
    Shares of Oi SA, not a part of the benchmark
index, rose 1.5 percent after Brazil's most indebted wireless
carrier laid out terms of a restructuring proposal aiming to
reduce the company's obligations by more than half. 
    Key Latin American stock indexes and currencies at 1600 GMT:
 Stock indexes                               daily %    YTD %
                                              change   change
 MSCI Emerging Markets               806.11     0.79     0.71
 MSCI LatAm                         2105.38     1.59    13.26
 Brazil Bovespa                    49654.55     0.49    14.54
 Mexico IPC                        45180.50     -0.1     5.13
 Chile IPSA                         3987.08      0.6     8.34
 Chile IGPA                        19701.89      0.5     8.54
 Argentina MerVal                  13073.38    -0.32    11.98
 Colombia IGBC                      9831.36      0.9    15.02
 Venezuela IBC                     14118.99    -0.24    -3.22
 Currencies                                  daily %    YTD %
                                              change   change
 Brazil real                         3.4302     1.10    15.07
 Mexico peso                        18.8705     0.35    -8.69
 Chile peso                           684.6     0.64     3.67
 Colombia peso                       3016.5    -0.05     5.06
 Peru sol                            3.3109     0.67     3.11
 Argentina peso (interbank)         13.9000    -1.10    -6.60
 Argentina peso (parallel)            14.37     0.63    -0.70

 (Reporting by Bruno Federowski and Priscila Jordão; Writing by
Bruno Federowski; Editing by Meredith Mazzilli)