EMERGING MARKETS-Latam currencies drop with commodities prices

jueves 13 de noviembre de 2014 10:44 GYT
 

SAO PAULO, Nov 13 (Reuters) - Latin American currencies
mostly weakened on Thursday due to falling commodities prices,
with Brazil's real pressured further by uncertainty over future
economic policy.
    The MSCI Latin American stock index fell for
the third session in four.
    Prices for commodities, which make up the bulk of
Latin American exports, edged lower on Thursday. They are down
about 13 percent since the start of July and are currently
hovering at their lowest level since June 2012. Most of that has
been driven by excess supply and weaker growth in China, a major
purchaser of products such as soybeans, iron ore and copper. 
    Data on Thursday showed China's economy lost more momentum
in October and is on track to grow at its weakest pace in 24
years. 
    Currency losses were somewhat limited in Latin America,
however, by bets that the data would lead the Chinese government
to unleash new stimulus measures.
    "It was a hopeful bet that didn't gain traction" said Pedro
Tuesta, an economist with 4Cast. "In general the data is not
very supportive."
    Chile's peso weakened slightly on lower prices for
copper, the country's main export, while Mexico's peso
 edged lower.
    Brazil's real weakened about 0.4 percent against the dollar,
with traders also citing lingering concerns over who recently
re-elected President Dilma Rousseff will nominate for finance
minister. The currency has swung in recent days on market
chatter over potential names, some of which are seen as
market-friendly and some of which are not.
    Brazil's Bovespa stock index moved up slightly,
mostly driven by encouraging corporate earnings.
    Shares of meat producer JBS SA climbed after the
company reported a five-fold increase in third-quarter profit
from a year earlier. 
    Shares of Lojas Americanas SA jumped about 4
percent after the retailer announced an expansion plan despite a
third-quarter profit decline.
    The Mexican and Chilean benchmark stock indexes
  were little changed.
    Peru's central bank will meet later on Thursday, while
economic growth data for September is expected on Friday.
 

    Key Latin American stock indexes and currencies at 1435 GMT:
    
 Stock indexes                   daily %    YTD %
                                  change   change
                      Latest              
 MSCI Emerging           996.08        0    -0.66
 Markets                                  
 MSCI LatAm             2992.14    -0.51    -6.04
                                          
 Brazil Bovespa        53156.82     0.34     3.20
                                          
 Mexico IPC            43778.63     0.08     2.46
                                          
 Chile IPSA             3927.09     0.14     6.16
                                          
 Chile IGPA            19142.86      0.1     5.02
                                          
 Argentina MerVal     10101.699     0.29    87.38
                                          
 Colombia IGBC         13097.99    -0.34     0.20
                                          
 Peru IGRA              15501.7     0.14    -1.60
                                          
 Venezuela IBC           2860.1        0     4.51
                                          
                                                 
 Currencies                      daily %    YTD %
                                  change   change
                         Latest           
 Brazil real             2.5726    -0.38    -8.39
                                          
 Mexico peso            13.5753    -0.15    -4.02
                                          
 Chile peso               594.8    -0.17   -11.55
                                          
 Colombia peso          2127.95    -0.23    -9.21
                                          
 Peru sol                 2.933     0.00    -4.77
                                          
 Argentina peso          8.5100     0.00   -23.71
 (interbank)                              
                                          
 Argentina peso           13.68    -3.87   -26.90
 (parallel)                               
                                          
 

 (Reporting by Asher Levine; Editing by Meredith Mazzilli)