EMERGING MARKETS-Latam markets seesaw on rising U.S. stocks, Brexit woes

viernes 22 de julio de 2016 12:10 GYT

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
    "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
 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
 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)