EMERGING MARKETS-Latam currencies, stocks recover as Turkey coup thwarted
(Updates prices) SAO PAULO, July 18 (Reuters) - Most Latin American stocks and currencies rose on Monday as traders unwound safety bets after a military coup attempt in Turkey proved unsuccessful. The Mexican currency closed up 1.12 percent despite a slide in crude prices driven by global oversupplies. Brazil's real was nearly flat after rising for four straight trading days, but first-month futures contracts strengthened by about 0.9 percent. Brazil's Bovespa stock index rose 1.63 percent to its highest close since May 2015, helped by a rise in the shares of state-run oil company Petrobras. Late on Friday, investors sold emerging market assets as the attempted military coup in Turkey unfolded, with the Mexican peso closing down 1.29 percent. Spot markets in Brazil had already closed when the news of the attempted coup broke, but futures contracts on the real currency lost more than 1 percent to 3.30 on the dollar. Risk appetite recovered after President Tayyip Erdogan thwarted the attempted coup, arresting 6,000 members of the armed forces and judiciary as of Sunday. "After a busy and somewhat fraught end to the trading week, markets are relatively calm as the situation in Turkey stabilizes," Scotiabank analysts wrote in a client note. Shares in Embraer SA fell 1.2 percent after Brazilian news reports said an executive at the planemaker signed a whistleblowing agreement related to accusations of bribery in the Dominican Republic. Key Latin American stock indexes and currencies at 2051 GMT: Stock indexes Latest Daily YTD pct pct change change MSCI Emerging Markets 870.13 0.26 9.57 MSCI LatAm 2,384.57 1.3 30.32 Brazil Bovespa 56,484.22 1.63 30.30 Mexico IPC 46,961.25 0.53 9.27 Chile IPSA 4,112.28 0.33 11.74 Chile IGPA 20,284.19 0.28 11.75 Argentina MerVal 15,999.10 2.27 37.04 Colombia IGBC 9,948.71 0.03 16.40 Venezuela IBC 12,413.34 2.33 -14.91 Currencies Latest Daily YTD pct pct change change Brazil real 3.2497 0.11 21.46 Mexico peso 18.3875 1.12 -6.30 Chile peso 648.5 0.57 9.44 Colombia peso 2,920.6 -0.05 8.51 Peru sol 3.283 -0.15 3.99 Argentina peso (interbank) 15.1400 -1.19 -14.25 Argentina peso (parallel) 15.34 -0.52 -6.98 (Reporting by Bruno Federowski and Paula Arend Laier, additional reporting by Luciano Costa; Editing by Cynthia Osterman and Paul Simao)
© Thomson Reuters 2016 All rights reserved.