EMERGING MARKETS-Brazil markets take profits after poll-inspired rally

martes 22 de abril de 2014 14:53 GYT
 

RIO DE JANEIRO, April 22 (Reuters) - Brazilian financial
markets fell on Tuesday, as investors returned from a four-day
weekend to pocket some recent gains inspired by bets that
President Dilma Rousseff would lose support in an influential
opinion poll.
    Other Latin American markets also lost ground as
geopolitical concerns in Ukraine added to ongoing fears of an
economic slowdown in China, the biggest consumer of the region's
commodities exports.
    MSCI's benchmark stock index for Latin America
 dropped 0.53 percent despite a positive
performance on Wall Street, while most regional currencies were
in the red. Investors feared another round of Western sanctions
against Russia after pro-Russian rebels seized control of
eastern towns and cities in Ukraine. 
    "Lack of agreement in Ukraine continues to worry investors,
who are rushing to the dollar as they seek protection," said
Reginaldo Siaca, a manager at the currency desk of Advanced
brokerage in Sao Paulo.
    Brazilian stocks and currency also fell as investors
pocketed part of Thursday's rally, which was sparked by hope
that a drop in Rousseff's approval ratings would increase the
chances of a more market-friendly government in 2015.
 
    Brazil's benchmark Bovespa index dropped 0.28
percent after jumping 1.8 percent on Thursday, shortly before
pollster Ibope said a survey showed Rousseff's disapproval
rating outstripped her approval rating for the first time.
 
    Although the poll confirmed market expectations, some
analysts said Thursday's rally may have been exaggerated.
    Shares of state-run companies that are more vulnerable to
government intervention were among the main decliners as they
gave up part of Thursday's gains.
    Petrobras' preferred shares slid 2.3 percent
after jumping 3.8 percent on Thursday. The state-run oil
company, also known as Petroleo Brasileiro SA, has suffered from
a government policy that forces it to import and sell fuels
domestically at prices below international market levels.
    Preferred shares of Brazil's iron ore exporter Vale
 dropped 1.6 percent on news that mining in India's
top iron ore exporting state is likely to restart in January
2015, increasing the global supply of the commodity.
 
    In the foreign exchange market, the Chilean peso ended 0.78
percent lower, the biggest drop among Latin American currencies.
The currency slid as copper prices declined earlier in London on
concern over China's demand for the metal, Chile's main export
product. 

 
    
    Key Latin American stock indexes and currencies at 1825 GMT:
    
     Stock indexes      Latest        Daily pct   YTD pct
                                      change      change
 MSCI Emerging Markets   1,008.75     -0.2        0.8
                                                  
 MSCI LatAm              3,256.59     -0.53       2.28
                                                  
 Brazil Bovespa         51,963.72     -0.28       0.89
                                                  
 Mexico IPC             40,525.4      -0.32       -5.15
                                                  
 Chile IPSA              3,874.66     -0.34       4.74
                                                  
 Chile IGPA             19,036.56     -0.22       4.44
                                                  
 Argentina MerVal        6,584.05      2.03       22.13
                                                  
 Colombia IGBC          13,652.58     -0.85       4.45
                                                  
 Peru IGRA              14,743.34      0.35       -6.41
                                                  
 Venezuela IBC           2,456.51     -0.64       -10.23
                                                  
                                                  
 Currencies             Latest        Daily pct   YTD pct
                                      change      change
 Brazil real            2.2433        -0.38       5.06
                                                  
 Mexico peso            13.0478       -0.18       -0.14
                                                  
 Chile peso             562.1         -0.78       -6.40
                                                  
 Colombia peso          1,931         -0.65       0.05
                                                  
 Peru sol               2.783         -0.25       0.36
                                                  
 Argentina peso         8.0000         0.03       -18.84
 (interbank)                                      
                                                  
 Argentina peso         10.35          0.48       -3.38
 (parallel)                                       
                                                  
    

 (Reporting by Walter Brandimarte, Priscila Jordao and Bruno
Federowski; editing by G Crosse)