EMERGING MARKETS-Latam stocks, currencies slip on lack of ECB stimulus hints

jueves 8 de septiembre de 2016 13:32 GYT
 

SAO PAULO, Sept 8 (Reuters) - Most Latin American stocks and
currencies retreated on Thursday after the European Central Bank
refrained from offering any clear hint of additional stimulus.
    ECB President Mario Draghi said the bank will study policy
options to ensure it can pursue its unprecedented money-printing
program but did not signal any expansion of its asset purchases.
 
    His comments triggered sales of emerging market assets,
which tend to benefit from looser policy in developed economies.
    The Mexican peso  was by far the biggest
loser in the region as traders waited for the release of the
country's 2017 budget proposal, which new Finance Minister Jose
Antonio Meade said would be in line with market expectations.
 
    Rising oil prices  on Thursday did little to
soften the peso's underperformance, which has puzzled many
traders this year. Some analysts blame the peso's status as a
highly-liquid currency, which leads traders to use the peso to
hedge their exposure to the rest of Latin America.
    Others point to the possibility that if Donald Trump won the
U.S. presidential election he could make good on promises to
curtail Mexico-U.S. trade flows.
    Most stock markets were either slightly lower or nearly
flat, with Brazilian steelmakers Gerdau SA  
rising after a drop in Chinese steel exports.
    Shares of Brasil Pharma SA jumped 20 percent
after Reuters reported Brazil's third-biggest drugstore chain is
close to selling two units for about 1.2 bln reais. 
    
    Key Latin American stock indexes and currencies at 1630 GMT:
    
 Stock indexes                     Latest        Daily     YTD
                                                   pct     pct
                                                change  change
 MSCI Emerging Markets                 924.54    -0.16   16.61
 MSCI LatAm                          2,487.54    -0.64   36.83
 Brazil Bovespa                     60,093.90    -0.06   38.63
 Mexico IPC                         47,374.70    -0.05   10.23
 Chile IPSA                          4,108.80    -0.15   11.65
 Chile IGPA                         20,422.23    -0.08   12.51
 Argentina MerVal                   16,417.22     0.62   40.62
 Colombia IGBC                      10,438.42    -0.09   22.12
 Venezuela IBC                      11,991.70       -4  -17.80
                                                              
 Currencies                            Latest    Daily     YTD
                                                   pct     pct
                                                change  change
 Brazil real                           3.2009    -0.22   23.31
 Mexico peso                          18.6525    -1.49   -7.63
 Chile peso                             663.8    -0.35    6.91
 Colombia peso                        2,848.6     0.37   11.26
 Peru sol                               3.369    -0.21    1.34
 Argentina peso (interbank)           15.0675    -0.08  -13.84
                                                        
 Argentina peso (parallel)              15.23     0.46   -6.30
                                                        
 
 (Reporting by Bruno Federowski; Editing by Bernadette Baum)