EMERGING MARKETS-Latam stocks, currencies rise as stimulus hopes boost markets
By Bruno Federowski
SAO PAULO, July 12 (Reuters) - Latin American stocks and currencies advanced on Tuesday as hopes of economic stimulus in Japan and Britain sustained investor appetite for higher-risk emerging market assets.
Japan's Prime Minister Shinzo Abe ordered a fresh fiscal package by the end of this month in an effort to stimulate tepid private consumption and investment.
Earlier on Tuesday, former U.S. Federal Reserve Chairman Ben Bernanke told Abe the Bank of Japan still has tools available to support the economy.
Traders also bet the Bank of England could take measures to protect Britain's economy from the fallout of last month's decision to leave the European Union following comments by Governor Mark Carney.
Mexico's IPC index hit a record high of 46,432.7 points, rising 0.55 percent on a pickup in oil prices, and helped by shares of Mexican conglomerate Alfa and cement maker Cemex.
Cemex announced a 106 million euro ($117.25 million) loan from the World Bank's private investment arm after the market close.
Brazil's real strengthened about 0.36 percent even as the central bank once again intervened to cushion the currency's rally, while the country's benchmark Bovespa stock index advanced 0.55 percent.
Shares of miner Vale SA jumped nearly 5 percent while tracking an increase in prices of China-listed iron ore contracts .IO62-CNI=SI.
Stocks of steelmakers Gerdau SA and Companhia Siderúrgica Nacional also ranked among the biggest gainers. ($1 = 0.9041 euros) (Reporting by Bruno Federowski; additional reporting by Paula Arend Laier and Alexandra Alper; editing by G Crosse and Diane Craft)
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