EMERGING MARKETS-Brazil's real gains after hitting 9-year low

lunes 10 de noviembre de 2014 12:38 GYT
 

SAO PAULO, Nov 10 (Reuters) - Brazil's currency, the real
 , strengthened on Monday after hitting its weakest
intraday level in over nine years in the previous session. 
    Most other Latin American currency and stock markets were
littlechanged in a day with few major market drivers.
    The real gained nearly 1 percent against the dollar as
investors considered the currency's recent decline overdone. 
    The real had fallen about 10 percent over the past two
months, driven by weak economic data and uncertainty over
potential changes to newly re-elected President Dilma Rousseff's
economic policy.
    "The stars have aligned for continued real weakness,
including bad budget and current account deficits, slow growth,
and high inflation," wrote Brown Brothers Harriman's Marc
Chandler. "That trend should continue near-term."
    Brazil's Bovespa stock index fell slightly, though
exporters dropped more sharply. Exporters, which earn mostly in
dollars and have costs in reais, tend to outperform when the
real weakens. 
    
    Key Latin American stock indexes and currencies at 1633 GMT:

 Stock indexes                        daily %    YTD %
                             Latest    change   change
 MSCI Emerging Markets        997.72     1.02     -1.5
                                               
 MSCI LatAm                  3039.31     0.38     -5.4
                                               
 Brazil Bovespa             53198.85    -0.05     3.28
                                               
 Mexico IPC                 44622.61     0.02     4.44
                                               
 Chile IPSA                   3887.8    -0.01     5.10
                                               
 Chile IGPA                 18981.47    -0.03     4.14
                                               
 Argentina MerVal          10410.189    -1.68    93.10
                                               
 Colombia IGBC                     0        0  -100.00
                                               
 Peru IGRA                  15534.37     0.42    -1.39
                                               
 Venezuela IBC               2973.82    -0.34     8.67
                                               
                                                      
 Currencies                           daily %    YTD %
                                       change   change
                              Latest           
 Brazil real                  2.5377     0.99    -7.13
                                               
 Mexico peso                   13.54     0.00    -3.77
                                               
 Chile peso                    586.7     0.17   -10.33
                                               
 Colombia peso                2100.5    -0.07    -8.02
 Peru sol                      2.928    -0.03    -4.61
                                               
 Argentina peso               8.5100     0.00   -23.71
 (interbank)                                   
                                               
 Argentina peso                12.45     5.22   -19.68
 (parallel)                                    
                                               
 
 (Editing by W Simon)