EMERGING MARKETS-Latam markets seesaw on rising U.S. stocks, Brexit woes
By Bruno Federowski SAO PAULO, July 22 (Reuters) - Latin American stocks and currencies seesawed on Friday as rising U.S. shares counterweighted renewed woes over the economic fallout from Britain's decision to leave the European Union. Brazil's benchmark Bovespa stock index tracked the S&P 500 higher, with shares of Localiza Rent a Car SA leading the gains. The car rental company's stock jumped to a two-year high after it posted strong second-quarter results and announced a share buyback program. Shares in BRF SA also rose on a Bloomberg report saying that the processed food maker is considering a $1.5 billion initial public offering of its Sadia Frozen Food unit. But currencies such as Brazil's real and Mexico's peso slipped after a survey of business confidence showed the British economy shrinking following last month's "Brexit" vote. The figures rekindled concerns in emerging markets, which had largely brushed off the issue on bets that financial turbulence could trigger fresh stimulus from global central banks. "The global backdrop is one of caution and traders are well-advised to avoid big bets," Glauber Romano, trader with Intercam brokerage in São Paulo, said. Key Latin American stock indexes and currencies at 1600 GMT: Stock indexes daily % YTD % change change Latest MSCI Emerging Markets 868.16 -0.35 9.7 MSCI LatAm 2384.87 -0.37 30.82 Brazil Bovespa 56916.06 0.48 31.29 Mexico IPC 47449.21 0.18 10.40 Chile IPSA 4145.59 0.59 12.65 Chile IGPA 20450.93 0.53 12.67 Argentina MerVal 15688.89 -0.56 34.38 Colombia IGBC 9832.91 -0.13 15.04 Venezuela IBC 12480.23 -0.14 -14.45 Currencies daily % YTD % change change Latest Brazil real 3.2867 -0.17 20.09 Mexico peso 18.6125 -0.22 -7.43 Chile peso 651.9 -0.17 8.87 Colombia peso 2940.42 0.04 7.78 Peru sol 3.315 0.36 2.99 Argentina peso (interbank) 14.9500 0.33 -13.16 Argentina peso (parallel) 15.33 0.00 -6.91 (Reporting by Bruno Federowski; Additional reporting by Paula Arend Laier; Editing by Meredith Mazzilli)
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