EMERGING MARKETS-Latam stocks, currencies up on Japanese stimulus prospects

lunes 11 de julio de 2016 11:24 GYT
 

By Bruno Federowski
    SAO PAULO, July 11 (Reuters) - Most Latin American stocks
and currencies rose on Monday as prospects of fresh stimulus in
Japan steered investors toward riskier assets.
    Japanese Prime Minister Shinzo Abe said he ordered a new
round of fiscal stimulus after his coalition emerged victorious
from parliamentary elections. 
    His comments added to a bout of bullish sentiment triggered
by stronger-than-expected U.S. jobs data published last Friday.
 
    The Mexican  and Chilean pesos 
strengthened about 0.4 percent, while the Brazilian real 
was nearly unchanged as that country's central bank once again
intervened to weaken the currency after staying put on Friday. 
    Brazil's benchmark Bovespa stock index rose 1.4
percent, supported by shares of state-controlled oil company
Petróleo Brasileiro SA.
    Analysts at Itaú BBA improved its recommendation for
Petrobras, as the company is known, to "outperform" and
increased their price target to 14 reais from 9 reais.
    "Short- and medium-term challenges remain, but we believe
they have already been mapped out by the market," Itaú BBA
analyst Diego Mendes wrote in a report.
    Shares of education companies Estácio Participações SA
 and Kroton Educacional SA both rose after
Estácio's board endorsed Kroton's takeover bid. 
    Chile's stock market  was nearly flat in
morning trade, underperforming its peers. Cencosud fell
4 percent, the biggest loser in both benchmark indexes, after
the retailer's owners said they would sell a 5 percent stake in
the company. 
    
    Key Latin American stock indexes and currencies at 1520 GMT:
 Stock indexes                               daily %    YTD %
                                              change   change
                                  Latest              
 MSCI Emerging Markets               845.47     2.01     4.37
 MSCI LatAm                         2294.29     1.54    23.48
 Brazil Bovespa                    53867.41     1.37    24.26
 Mexico IPC                        46120.84     0.82     7.31
 Chile IPSA                         4026.36     0.03     9.41
 Chile IGPA                        19907.58     0.05     9.67
 Argentina MerVal                  15057.14      2.5    28.97
 Colombia IGBC                      9644.47     0.33    12.84
 Venezuela IBC                     11881.62     0.61   -18.55
                                                             
 Currencies                                  daily %    YTD %
                                              change   change
                                     Latest           
 Brazil real                         3.2998    -0.21    19.61
 Mexico peso                        18.4225     0.44    -6.47
                                                      
 Chile peso                           657.2     0.35     7.99
 Colombia peso                      2925.97     0.09     8.32
 Peru sol                             3.277     0.15     4.18
 Argentina peso (interbank)         14.7000     0.00   -11.68
                                                      
 Argentina peso (parallel)            14.85     0.40    -3.91
                                                      
 

 (Reporting by Bruno Federowski; Additional reporting by Paula
Arend Laier; Editing by Jonathan Oatis)