EMERGING MARKETS-Latam stocks, currencies slump as oil tumbles
By Bruno Federowski SAO PAULO, Sept 13 (Reuters) - Latin American stocks and currencies fell on Tuesday, weighed down by a slump in crude prices and concerns over a possible U.S. rate increase this year. Although comments by Federal Reserve policymaker Lael Brainard on Monday initially offered some relief for nervous markets, sentiment turned sour as prices of oil tumbled. The move came as a series of predictions of weak demand growth fostered bets that global crude oversupply could persist for much longer than previously expected. Currencies from oil-producing economies, such as the Colombian and Mexican pesos, slumped. Mexico's currency hovered near three-month lows. Volatility has spiked in emerging markets as traders seek to decipher the Fed's strategy for dealing with mixed economic figures and financial market weakness abroad. Stock markets also slumped, with blue-chips leading losses in Brazil's benchmark Bovespa index. Shares of lenders Bradesco SA and Itaú Unibanco SA, as well as state-controlled oil company Petróleo Brasileiro SA, ranked among the biggest losers. Steel makers also fell sharply after the U.S. International Trade Commission decided to raise anti-dumping and anti-subsidy duties on hot-rolled steel imports from Brazil. Key Latin American stock indexes and currencies at 1455 GMT: Stock indexes daily % YTD % change change Latest MSCI Emerging Markets 885.78 -0.41 12 MSCI LatAm 2335.29 -1.78 29.94 Brazil Bovespa 57354.72 -2.1 32.31 Mexico IPC 46269.44 -0.97 7.66 Chile IPSA 4054.91 -0.32 10.18 Chile IGPA 20172.79 -0.29 11.14 Argentina MerVal 15739.52 -1.98 34.81 Colombia IGBC 10141.27 -0.96 18.65 Venezuela IBC 12030.39 0 -17.53 Currencies daily % YTD % change change Latest Brazil real 3.2943 -1.42 19.81 Mexico peso 19.1360 -1.70 -9.96 Chile peso 672.4 -0.39 5.55 Colombia peso 2975 -1.36 6.53 Peru sol 3.412 -0.44 0.06 Argentina peso (interbank) 14.8750 0.50 -12.72 Argentina peso (parallel) 15.35 0.39 -7.04 (Reporting by Bruno Federowski; Editing by Nick Zieminski)
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