EMERGING MARKETS-Brazil stocks rise as CPFL jumps in thin trade

lunes 4 de julio de 2016 12:22 GYT

By Bruno Federowski and Paula Arend Laier
    SAO PAULO, July 4 (Reuters) - Brazilian equities rose on
Monday as shares of CPFL Energia SA jumped on news
that the world's largest utility, China's State Grid
International Development Ltd, will buy a controlling stake in
the company for 5.85 billion reais ($1.8 billion).
    CPFL led the gains in Brazil's benchmark Bovespa stock index
 after Camargo Corrêa SA agreed to sell a 23 percent
stake in the country's largest power distributor to the Chinese
    Credit Suisse analysts raised their price target for shares
of CPFL to 25 reais from 18.54 reais and reiterated their
"outperform" recommendation.
    In foreign exchange markets, the Brazilian real 
slipped as the central bank intervened for a second trading day
to weaken the currency.
    Central bank chief Ilan Goldfajn said on Friday he saw a
window of opportunity to reduce the bank's exposure to currency
movements after the real posted its best monthly performance in
13 years in June. 
    Trading volumes were thin all over the region due to the
U.S. July Fourth public holiday, with the Mexican peso 
 slightly lower as oil prices fell .
    Signs of slowing demand for crude in Asia offset comments by
Saudi Energy Minister Khaled Al-Faleh, who said that the market
was heading toward balance.
    Key Latin American stock indexes and currencies at 1600 GMT:
 Stock indexes                                daily %   YTD %
                                               change  change
 MSCI Emerging Markets                843.91     0.56    5.68
 MSCI LatAm                          2295.37     0.48   24.85
 Brazil Bovespa                     52664.58     0.83   21.49
 Mexico IPC                         46406.39     0.42    7.98
 Chile IPSA                          4038.77     0.23    9.74
 Chile IGPA                         19914.26      0.2    9.71
 Argentina MerVal                   15315.86     1.35   31.18
 Colombia IGBC                       9768.57     0.06   14.29
 Venezuela IBC                      12507.11    -2.68  -14.27
 Currencies                                   daily %   YTD %
                                               change  change
 Brazil real                          3.2392    -0.24   21.85
 Mexico peso                         18.3750    -0.14   -6.23
 Chile peso                            657.4     0.58    7.96
 Colombia peso                       2931.91     0.00    8.10
 Peru sol                              3.284     0.06    3.96
 Argentina peso (interbank)          15.0000     0.07  -13.45
 Argentina peso (parallel)             15.04    -0.07   -5.12

 (Reporting by Bruno Federowski and Paula Arend Laier; Writing
by Bruno Federowski; Editing by Andrea Ricci)