EMERGING MARKETS-Latam stocks, currencies up for 2nd day as Brexit woes fade

miércoles 29 de junio de 2016 11:31 GYT
 

By Bruno Federowski and Priscila Jordão
    SAO PAULO, June 29 (Reuters) - Latin American stocks and
currencies rose for a second day on Wednesday as prospects of
central bank stimulus overshadowed concerns over Britain's
decision to leave the European Union.
    Traders also hunted for bargains after the "Brexit"
referendum last week sparked a two-day selloff in global
markets, erasing about $3 trillion in value.
    Banking shares, which were among the most affected by
Britain's decision, extended their rebound on Wednesday. Traders
bet global central banks would be quick to offer fresh stimulus
if market turmoil threatens the economic outlook.
    Lender Itaú Unibanco SA added the most points to
Brazil's benchmark Bovespa index, though the index
remained about 1 percent lower than pre-referendum levels.
    Reports of corporate deals in Brazil's education sector also
helped boost equities.
    "The volume of mergers and acquisitions means we're feeling
optimistic about a possible improvement in investor sentiment,"
Guide Investimentos analysts wrote in a report.
    College operator Estácio Participações SA rose
4.3 percent after smaller rival Ser Educacional 
sweetened a merger bid. Ser is competing for Estácio with Kroton
Educacional SA and the Zaher family, currently
Estácio's No. 2 shareholder. 
    GAEC Educação SA also announced on Tuesday it
will acquire rival Allis Educacional for 46 million reais ($14.2
million) lifting its stock by 6.4 percent. Shares of Anima
Educação, as GAEC is commonly known, are not part of the
country's benchmark index.
    In foreign exchange markets, the Brazilian real 
soared over 2 percent as the country's central bank refrained
from intervening despite the currency's recent rally. 
    Central bank efforts to cushion gains in the real had led
some traders to bet it meant to shield Brazilian exports but the
bank has stood pat since mid-May.

    Key Latin American stock indexes and currencies at 1520 GMT:
 Stock indexes                               daily %    YTD %
                                              change   change
                                   Latest             
 MSCI Emerging Markets               823.07     2.21      1.4
 MSCI LatAm                         2234.57     4.25    17.14
 Brazil Bovespa                    51058.01      2.1    17.78
 Mexico IPC                        45374.97     1.48     5.58
 Chile IPSA                         3967.76     0.81     7.81
 Chile IGPA                        19603.26     0.71     8.00
 Argentina MerVal                  14401.17     1.83    23.35
 Colombia IGBC                      9768.54     0.64    14.29
 Venezuela IBC                     12993.30    -0.56   -10.93
                                                             
 Currencies                                  daily %    YTD %
                                              change   change
                                                      
                                     Latest           
 Brazil real                         3.2345     2.16    22.03
 Mexico peso                        18.5400     1.60    -7.07
 Chile peso                           659.9     1.03     7.55
 Colombia peso                      2909.47     2.49     8.93
 Peru sol                             3.302     0.00     3.39
 Argentina peso (interbank)         14.8600     0.47   -12.63
                                                      
 Argentina peso (parallel)             14.8     1.49    -3.58
                                                      
 

 (Reporting by Bruno Federowski and Priscila Jordão; Writing by
Bruno Federowski; Editing by Chris Reese)