EMERGING MARKETS-Latam stocks, currencies tumble as oil price drops

martes 13 de septiembre de 2016 18:02 GYT

(Updates prices)
    By Bruno Federowski
    SAO PAULO, Sept 13 (Reuters) - Latin American stocks and
currencies stumbled on Tuesday, weighed by a slump in crude
prices and concerns over a possible U.S. interest 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.
    Oil prices fell up to 3 percent after the world's energy
watchdog and OPEC revised forecasts to signal the global crude
glut could persist far longer than expected. 
    Currencies from oil-producing economies, such as the
Colombian and Mexican pesos, slumped. Mexico's
currency reached an intraday low of 19.216, its lowest level
since June 27, and not far off the historic low of 19.5225.
    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, which ended the day
down 3 percent.
    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 2136 GMT:
 Stock indexes               Latest          Daily   YTD pct
                                               pct    change
 MSCI Emerging Markets            886.01     -0.38     11.57
 MSCI LatAm                     2,319.09     -2.46     26.74
 Brazil Bovespa                56,820.74     -3.01     31.07
 Mexico IPC                    46,154.20     -1.21      7.39
 Chile IPSA                     4,064.04     -0.09     10.43
 Chile IGPA                    20,223.21     -0.04     11.41
 Argentina MerVal              15,520.79     -3.34     32.94
 Colombia IGBC                 10,085.79     -1.51     18.00
 Venezuela IBC                 12,031.20      0.01    -17.53
 Currencies                       Latest     Daily   YTD pct
                                               pct    change
 Brazil real                      3.3168     -2.09     19.00
 Mexico peso                     19.0825     -1.44     -9.71
 Chile peso                        678.2     -1.24      4.64
 Colombia peso                     2,975     -1.36      6.53
 Peru sol                          3.405     -0.23      0.26
 Argentina peso (interbank)      14.9875     -0.25    -13.38
 Argentina peso (parallel)         15.32      0.59     -6.85
 (Reporting by Bruno Federowski; Editing by Chris Reese)