EMERGING MARKETS-Latam currencies up as Yellen offers few hints of imminent hike

viernes 26 de agosto de 2016 12:03 GYT

SAO PAULO, Aug 26 (Reuters) - Most Latin American currencies
strengthened on Friday after U.S. Federal Reserve Chair Janet
Yellen refrained from hinting at a September rate hike in her
widely anticipated speech at the Jackson Hole meeting of global
central bankers.
    Yellen did not indicate when the U.S. central bank might
increase rates but said the case for a rise has strengthened in
recent months. 
    Before the speech, many traders feared a stronger sign of an
imminent rate hike. New York Fed President William Dudley had
said last week a September increase was "possible". 
    "What is new is that apparently Yellen is closer to those
who want to hike by the end of the year than to those who want
to hike now," B&T brokerage trader Marcos Trabbold said.
    Keeping U.S. rates low for longer would benefit emerging
markets, which often attract foreign investors with high yields.
    Most stock markets also rose, with Brazil's benchmark
Bovespa stock index leading the gains.
    Shares of Petróleo Brasileiro SA  
advanced after Credit Suisse analysts raised their
recommendation for U.S. listed stocks of Petrobras, as the of
state-controlled oil company is known, to neutral from
    But Mexico's IPC stock index slipped 0.2 percent,
with shares of ICA slumping 12 percent after rising
sharpy for the four previous sessions.
    The construction company reported on Thursday a much wider
loss in the second quarter compared with the year-earlier
period, as revenue was nearly halved and financial costs rose.
    Key Latin American stock indexes and currencies at 1550 GMT:
 Stock indexes                                 daily %   YTD %
                                      Latest    change  change
 MSCI Emerging Markets                 902.16     0.45   13.09
 MSCI LatAm                           2455.90      1.3   32.49
 Brazil Bovespa                      58343.18     1.08   34.59
 Mexico IPC                          47605.55    -0.27   10.77
 Chile IPSA                           4142.67    -0.25   12.57
 Chile IGPA                          20535.39     -0.2   13.13
 Argentina MerVal                    15983.55     0.52   36.90
 Colombia IGBC                       10118.90     0.28   18.39
 Venezuela IBC                       11975.02        0  -17.91
 Currencies                                    daily %   YTD %
                                                change  change
 Brazil real                           3.2075     0.72   23.06
 Mexico peso                          18.2955     0.39   -5.82
 Chile peso                             664.2    -0.18    6.85
 Colombia peso                        2880.32     0.42   10.03
 Peru sol                                3.34     0.24    2.22
 Argentina peso (interbank)           14.9375    -0.32  -13.09
 Argentina peso (parallel)              15.43     0.39   -7.52

 (Reporting by Bruno Federowski; Editing by XX)