EMERGING MARKETS-Brazil stocks gain on poll chatter

martes 14 de octubre de 2014 13:00 GYT
 

SAO PAULO, Oct 14 (Reuters) - Brazilian stocks rose on
Tuesday, erasing early losses on market chatter that upcoming
polls would boost optimism about the prospects of challenger
Aecio Neves to defeat President Dilma Rousseff in this month's
election.
    The Bovespa stock index rose about 1.1 percent, a
day after posting its biggest one-day gain in more than three
years.
    Shares initially fell on profit taking after Monday's 4.8
percent jump, which was fueled by investor perceptions that
Neves is better-placed to defeat Rousseff.
    Many investors believe a new administration would enact
policies that are more favorable to minority shareholders in
state-run companies and help lower the risk premium on local
assets.
    The Bovespa flipped into positive territory later in the
session as market players began to speculate that two new polls
expected to be released later this week will show Neves gaining
ground, traders said.
    Gains were led by shares of the most widely-traded firms,
including lenders Itau Unibanco SA and Banco Bradesco
SA, both of which gained about 2.25 percent.
    The Brazilian real weakened as the safe-haven U.S.
dollar rose globally on the back of worrying economic data from
Europe, though the poll speculation limited the real's drop.
    Elsewhere in Latin America, Chile's peso edged higher
on rising prices for copper, the country's main export. 
    The Mexican peso also posted modest gains. Central
bank chief Agustin Carstens said on Tuesday that Mexican
inflation will converge toward the central bank's target of 3
percent by the middle of next year, despite food price shocks
that have pushed up the annual rate. 

    Key Latin American stock indexes and currencies at 1650 GMT:
    
 Stock indexes                        daily %    YTD %
                             Latest    change   change
 MSCI Emerging Markets        993.28     0.18    -1.12
                                               
 MSCI LatAm                  3304.13     0.75     2.46
                                               
 Brazil Bovespa              58604.7     1.12    13.78
                                               
 Mexico IPC                 43196.77     0.25     1.10
                                               
 Chile IPSA                  3854.19    -0.11     4.19
                                               
 Chile IGPA                 18912.79    -0.13     3.76
                                               
 Argentina MerVal           9989.899     -0.5    85.31
                                               
 Colombia IGBC              12920.03    -0.38    -1.16
                                               
 Peru IGRA                  15581.05    -0.13    -1.10
                                               
 Venezuela IBC               2890.93     0.05     5.64
                                               
                                                      
 Currencies                           daily %    YTD %
                                       change   change
                              Latest           
 Brazil real                  2.3970    -0.22    -1.68
                                               
 Mexico peso                  13.397     0.40    -2.74
                                               
 Chile peso                    587.7     0.14   -10.48
                                               
 Colombia peso               2048.05     0.00    -5.67
 Peru sol                      2.904     0.00    -3.82
                                               
 Argentina peso               8.4750    -0.09   -23.39
 (interbank)                                   
                                               
 Argentina peso                14.75     1.36   -32.20
 (parallel)                                    
                                               
 
 (Reporting by Asher Levine; Editing by David Gregorio)