EMERGING MARKETS-Most Latam stocks, currencies rise on global risk appetite
By Bruno Federowski SAO PAULO, Aug 8 (Reuters) - Most Latin American stocks and currencies rose on Monday as global appetite for risky assets remained firm following Friday's solid U.S. jobs report. Many traders saw the figures as a sign of strength in the world's No. 1 economy, which could spill over into emerging markets despite the possibility that U.S. rates could rise sooner as a result. Currencies from crude exporters led the gains, with Colombia's peso rising by the most in a month. Prices of oil jumped nearly 3 percent on Monday amid speculation that major producers would try to limit output. But Brazil's real weakened 0.5 percent after a local magazine reported that construction magnate Marcelo Odebrecht has told prosecutors he contributed illegally to the election campaign of now-interim President Michel Temer in 2014, when he was vice president and seeking re-election on the ticket of now-suspended President Dilma Rousseff. "Emerging market currencies are higher today but the real has been sidelined on political concerns," B&T brokerage trader Marcos Trabbold said. The country's benchmark Bovespa stock index rose, supported by shares of state-controlled oil company Petróleo Brasileiro SA . Analysts with Bradesco BBI and Santander Brasil raised their recommendation for the stocks. Shares in BB Seguridade Participações SA, the insurance unit of state-controlled Banco do Brasil SA , fell 1.8 percent after it cuts its estimate for net income growth this year. Key Latin American stock indexes and currencies at 1545 GMT: Stock indexes daily % YTD % change change Latest MSCI Emerging Markets 895.54 1.13 11.51 MSCI LatAm 2447.90 1.08 32.35 Brazil Bovespa 57839.64 0.31 33.42 Mexico IPC 47426.29 0.49 10.35 Chile IPSA 4130.47 0.23 12.23 Chile IGPA 20411.33 0.21 12.45 Argentina MerVal 15434.92 0.26 32.20 Colombia IGBC 9664.54 0.19 13.07 Currencies daily % YTD % change change Latest Brazil real 3.1800 -0.37 24.12 Mexico peso 18.5770 1.04 -7.25 Chile peso 654.6 0.34 8.42 Colombia peso 2991.47 1.55 5.94 Peru sol 3.311 0.60 3.11 Argentina peso (interbank) 14.7900 0.14 -12.22 Argentina peso (parallel) 15.26 -0.13 -6.49 (Editing by Jeffrey Benkoe)
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