EMERGING MARKETS-Latam markets rebound as global markets recover

viernes 17 de octubre de 2014 13:57 GYT

SAO PAULO, Oct 17 (Reuters) - Latin American currencies and
stocks rebounded on Friday, tracking global markets higher as
concerns over U.S. economic growth eased.
    The MSCI Latin American stock index nearly
erased the previous session's losses, with Brazilian markets
buoyed by election bets.
    Global equities rallied on Friday on strong U.S. earnings
reports eased concerns about the impact of weak global demand on
U.S. growth and businesses. 
    Brazil's Bovespa stock index and real currency
 followed suit as investors stepped up demand for riskier
assets after a two-session sell-off.
    "We had some exaggerated pessimism in recent days and that
is being corrected today, both here and abroad," said Andre
Santoro, an analyst with Brasif Gestao in Rio de Janeiro.
    The real gained almost 1 percent, while the Bovespa rose
about 2 percent. Traders said the gains were supported by
perceptions that market-friendly challenger Aecio Neves won a
debate with President Dilma Rousseff late on Thursday.
    Brazil goes to the polls on Oct. 26. Many investors hope a
new administration would enact policies that are more favorable
to state-run enterprises.
    Elsewhere in Latin America, both the Colombian and Mexican
pesos  strengthened about 0.25 percent, while
Chile's peso gained about 0.3 percent.
    Chile's central bank cut the benchmark interest rate by 25
basis points to 3.0 percent on Thursday, as widely expected, but
removed its easing bias in a likely signal a year-long loosening
cycle was over. 
    Key Latin American stock indexes and currencies at 1748 GMT:
 Stock indexes                        daily %    YTD %
                             Latest    change   change
 MSCI Emerging Markets        977.22     0.68     -3.2
 MSCI LatAm                  3155.51     2.19    -3.53
 Brazil Bovespa             55483.47     2.18     7.72
 Mexico IPC                 43409.08     1.17     1.60
 Chile IPSA                  3773.39    -0.12     2.01
 Chile IGPA                 18562.33    -0.05     1.84
 Argentina MerVal           10451.96     4.74    93.88
 Colombia IGBC              13130.06     1.06     0.45
 Peru IGRA                  16194.06     1.89     2.80
 Venezuela IBC               3056.66    -0.04    11.70
 Currencies                           daily %    YTD %
                                       change   change
 Brazil real                  2.4418     0.87    -3.48
 Mexico peso                 13.5182     0.31    -3.61
 Chile peso                   586.58     0.33   -10.27
 Colombia peso               2062.99     0.25    -6.35
 Peru sol                      2.903     0.03    -3.79
 Argentina peso               8.4725     0.03   -23.37
 Argentina peso                14.68    -0.20   -31.88
 (Reporting by Bruno Federowski; Writing by Asher Levine;
Editing by David Gregorio)