EMERGING MARKETS-Latam stocks, currencies seesaw ahead of Fed minutes

martes 11 de octubre de 2016 12:58 GYT
 

By Bruno Federowski
    SAO PAULO, Oct 11 (Reuters) - Latin American stocks and
currencies seesawed on Tuesday as traders awaited minutes from
the Federal Reserve's policy meeting for clues over the
possibility of a rate hike this year.
    Expectations that U.S. rates will rise in December have been
growing ahead of Wednesday's release of the minutes from the
Fed's September policy meeting.
    "An increase later this year is gradually becoming more
likely," analysts with Guide Investimentos brokerage wrote in a
report.
    Higher U.S. rates could drive capital away from
high-yielding emerging markets, though markets generally believe
any further increases will be slow.
    The Mexican peso weakened 0.1 percent after
strengthening over 2 percent the day before.
    The peso has rebounded after touching a record low in
September, on fading expectations that Republican nominee Donald
Trump could become the next U.S. president.
    A drop in oil prices also weighed on demand for assets from
crude exporters after calls for Russia to curb output received
mixed responses from key officials. 
    Crude prices had hit a one-year high on Monday after Russia
said it was ready to join OPEC in reducing oil production.
 
    Brazil's benchmark Bovespa stock index fell 0.8
percent, dragged down by shares of state-controlled oil company
Petróleo Brasileiro SA .
    Shares in retailer GPA SA were also among the
biggest decliners following weak e-commerce figures.
 

    Key Latin American stock indexes and currencies at 1640 GMT:
 Stock indexes                               daily %   YTD %
                                              change  change
                                   Latest             
 MSCI Emerging Markets               905.19    -1.47   15.68
 MSCI LatAm                         2482.79    -0.51   36.38
 Brazil Bovespa                    61155.63    -0.83   41.07
 Mexico IPC                        48155.63    -0.23   12.05
 Chile IPSA                         4087.39     0.29   11.06
 Chile IGPA                        20303.04    -0.07   11.85
 Argentina MerVal                  17059.11    -0.44   46.11
 Colombia IGBC                      9971.53    -0.14   16.66
 Venezuela IBC                     13412.44    -0.48   -8.06
                                                            
 Currencies                                  daily %   YTD %
                                              change  change
                                                      
                                     Latest           
 Brazil real                         3.2067    -0.16   23.09
 Mexico peso                        18.9520    -0.14   -9.09
 Chile peso                             667     0.42    6.40
 Colombia peso                      2925.29     0.01    8.34
 Peru sol                             3.399    -0.15    0.44
 Argentina peso (interbank)         15.1900     0.07  -14.53
                                                      
 Argentina peso (parallel)            15.54     0.06   -8.17
                                                      
 

 (Reporting by Bruno Federowski; Editing by Nick Zieminski)