EMERGING MARKETS-Latam stocks, currencies mostly slip on Fed rate hike worries

lunes 12 de septiembre de 2016 11:23 GYT
 

By Bruno Federowski
    SAO PAULO, Sept 12 (Reuters) - Most Latin American stocks
and currencies fell on Monday as concerns over a possible U.S.
interest rate increase sapped appetite for emerging market
assets.
    Boston Federal Reserve President Eric Rosengren said on
Friday the U.S. central bank increasingly faces risks if it
waits too long to tighten policy. 
    His remarks rekindled bets that the Fed could raise rates
this year despite a recent bout of weak U.S. economic figures.
    Traders now await a speech by Fed Board Governor Lael
Brainard on Monday for further hints over the Fed's intentions.
    The Mexican peso  weakened as much as 1.4
percent but later pared losses as prices of crude oil 
 turned higher. The Brazilian real slipped 0.1
percent.
    Most stock markets in the region also dropped, but Brazil's
benchmark Bovespa stock index rose 0.3 percent.
    Common shares of Petróleo Brasileiro SA provided
the biggest boost to the index after the state-controlled oil
company's output hit a record high in August.
    Shares of Vale SA also rose, offering support to
the benchmark index. JPMorgan analysts improved their
recommendation for U.S.-listed stocks in the miner to
"overweight" and increased their price target to $7 from $5.
    Shares of infrastructure operators were mixed ahead of an
expected government announcement of a new plan of concessions
and privatizations.
    Local newspaper Folha de S.Paulo reported on Monday that the
government plans to seize and relaunch some airport and road
concessions that are well behind schedule on those projects.
    Analysts with Bradesco BBI said that if that proves to be
true, operators CCR SA and Ecorodovias Infraestrutura
e Logística SA could participate in the auctions.
    Shares of both companies rose on Tuesday, while stocks in
Rumo Logística Operadora Multimodal SA dropped 1.9
percent.
    
    Key Latin American stock indexes and currencies at 1500 GMT:
 Stock indexes                               daily %    YTD %
                                              change   change
                                   Latest             
 MSCI Emerging Markets               887.95    -2.35     14.5
 MSCI LatAm                         2356.53    -1.11    30.23
 Brazil Bovespa                    58181.28     0.31    34.21
 Mexico IPC                        46066.25    -0.85     7.19
 Chile IPSA                         4057.93    -0.85    10.26
 Chile IGPA                        20187.13    -0.79    11.21
 Argentina MerVal                  15909.31    -0.41    36.27
 Colombia IGBC                     10261.65    -0.61    20.06
                                                             
 Currencies                                  daily %    YTD %
                                              change   change
                                                      
                                     Latest           
 Brazil real                         3.2856    -0.23    20.13
 Mexico peso                        19.1250    -1.07    -9.91
 Chile peso                           673.2    -0.40     5.42
 Colombia peso                      2936.47    -0.63     7.93
 Peru sol                             3.403    -0.26     0.32
 Argentina peso (interbank)         14.9950     0.07   -13.42
                                                      
 Argentina peso (parallel)            15.27     0.39    -6.55
                                                      
 
 (Reporting by Bruno Federowski; Editing by James Dalgleish)