EMERGING MARKETS-Latam stocks, currencies fall ahead of Fed, BOJ meetings
(Adds closing stock indexes, details) By Bruno Federowski SAO PAULO, July 25 (Reuters) - Latin American currencies and stocks ended mostly lower on Monday as traders avoided risky bets ahead of this week's U.S. Federal Reserve and Bank of Japan policy meetings. Traders overwhelmingly bet the Fed will hold interest rates steady on Wednesday, growing expectations that it could tighten policy later this year weighed on appetites for higher-yielding but riskier emerging market assets. In Mexico, the stock index closed down 0.86 percent, partly driven by Grupo Mexico which saw a 3.21 percent drop in its share price after posting weaker second-quarter results. Currencies from oil-rich countries tumbled as crude prices slid to their lowest since early May on lingering concerns of global oversupply and weak demand. The Mexican peso weakened more than 1 percent to an over two-week low, while the Colombian peso hit its lowest level in a month. Brazil's benchmark Bovespa stock index closed more than 0.2 percent lower after rising for six weeks in a row, its longest winning streak since 2010. Financials were among the biggest losers, but shares of state-owned lender Banco do Brasil SA rose after Deutsche Bank analysts improved their recommendation for the stock to "buy" from "hold." Key Latin American stock indexes at 2100 GMT: Stock indexes Latest Daily YTD pct pct change change MSCI Emerging Markets 869.10 -0.02 9.44 MSCI LatAm 2,371.19 -0.88 29.59 Brazil Bovespa 56,872.73 -0.23 31.19 Mexico IPC 47,130.41 -0.86 9.66 Chile IPSA 4,144.46 0.02 12.61 Chile IGPA 20,455.55 0.02 12.69 Argentina MerVal 15,712.61 -0.84 34.58 Colombia IGBC 9,786.84 -0.87 14.50 Venezuela IBC 12,462.66 -0.17 -14.57 (Reporting by Bruno Federowski, additional reporting by Paula Arend Laier, Miguel Gutierrez, editing by G Crosse)
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