EMERGING MARKETS-Latam currencies pare gains as oil slides; stocks fall

miércoles 10 de agosto de 2016 12:35 GYT

By Bruno Federowski
    SAO PAULO, Aug 10 (Reuters) - Latin American currencies
pared gains on Wednesday as crude prices turned negative, taking
the shine off an extended rally in emerging markets.
    Most stock markets in the region fell, tracking declines in
Wall Street triggered by the losses in oil. But most currencies
remained in positive territory, with investors still chasing
higher yields amid prospects of rock-bottom interest rates
abroad and a gradual but sturdy global economic recovery.
    Oil prices  slid nearly 2 percent after a
surprise build in U.S. inventories reinforced concerns about
global oversupply.
    Brazil's real posted fresh one-year highs close to
3.10 per U.S. dollar but reduced gains in early afternoon trade.
The currency rose for the seventh straight trading day, while
Colombia's peso posted its sixth daily gain.
    Also weighing on some regional stock indexes was a batch of
bearish corporate reports.
    Shares in builder Cyrela SA were the biggest
losers in Brazil's benchmark Bovespa stock index after
the company reported a 62 percent drop in second-quarter income.
    But stocks in Gerdau SA rose 3 percent following
its results. The steelmaker posted higher earnings in the second
quarter compared to the first, as well as lower debt ratios.

    Key Latin American stock indexes and currencies at 1625 GMT:
 Stock indexes                                daily %    YTD %
                                     Latest    change   change
 MSCI Emerging Markets                903,02     0,36     13,3
 MSCI LatAm                          2461,33    -0,41    35,06
 Brazil Bovespa                     56850,59    -1,45    31,14
 Mexico IPC                         47648,31     0,04    10,87
 Chile IPSA                          4136,05    -0,29    12,39
 Chile IGPA                         20439,24    -0,27    12,60
 Argentina MerVal                   15306,92    -0,95    31,11
 Colombia IGBC                       9719,75    -0,33    13,72
 Venezuela IBC                      12255,10    -0,53   -15,99
 Currencies                                   daily %    YTD %
                                               change   change
 Brazil real                          3,1285     0,38    26,16
 Mexico peso                         18,3410     0,51    -6,06
 Chile peso                            649,3     0,45     9,30
 Colombia peso                       2959,24     0,74     7,10
 Peru sol                              3,306     0,03     3,27
 Argentina peso (interbank)          14,7250     0,44   -11,83
 Argentina peso (parallel)             15,26     0,59    -6,49
 (Reporting by Bruno Federowski; Editing by David Gregorio)