EMERGING MARKETS-Latam stocks gain; Chile peso drops on cenbank caution

martes 18 de noviembre de 2014 15:37 GYT
 

By Paula Laier
    SAO PAULO, Nov 18 (Reuters) - Latin American markets mostly
rose on Tuesday as the S&P 500 reached a record high, boosting
investor appetite for risk in general, but caution sent Chile's
peso to a six-month low before a central bank monetary policy
meeting.
    Brazil's benchmark Bovespa index gained more than 1
percent as a rise in banking stocks offset a fall in shares of
state-run oil company Petrobras, which has been hit
by a corruption scandal.
    Investors remained cautious, however, as they gauged the
political and economic impacts of an unprecedented money
laundering and bribery scandal at Petroleo Brasileiro SA, as
Brazil's oil company is formally known.
    Petrobras' shares fell about 2 percent as UBS analysts
estimated the company could write down $10 billion off its books
as it reassesses the value of assets based on whether bribes
were part of the purchase price.  
    Uncertainty about the future economic team of re-elected
President Dilma Rousseff's also left investors jittery.
    "Investors are between neutral and slightly pessimistic,"
said a fund manager in Rio de Janeiro who asked not to be
identified. "If we have a name inspiring confidence in the
finance ministry, then domestic assets could improve."
    Other Latin American bourses also rose, driving the
benchmark MSCI stock index for the region 1.2
percent higher.
    While most regional currencies posted gains, the Chilean
peso lost 0.48 percent to 598.10 per dollar as investors
turned cautious before a central bank monetary policy meeting.
    Although Chilean policymakers are not expected to further
cut interest rates this year, investors adopted a defensive
stance after economic data confirmed Chile's economy is growing
at its slowest pace in five years.

    Key Latin American stock indexes and currencies at 2020 GMT:
    
 Stock indexes                           daily %    YTD %
                                          change   change
                         Latest                   
 MSCI Emerging Markets      989.06          0.32    -1.68
                                                  
 MSCI LatAm                2942.01          1.24    -9.21
                                                  
 Brazil Bovespa           52061.86          1.57     1.08
                                                  
 Mexico IPC               43454.21          0.19     1.70
                                                  
 Chile IPSA                3930.41          0.21     6.25
                                                  
 Chile IGPA               19154.81          0.17     5.09
                                                  
 Argentina MerVal         9748.819          0.74    80.83
                                                  
 Colombia IGBC            12887.37         -0.35    -1.41
                                                  
 Peru IGRA                15171.44          0.49    -3.70
                                                  
 Venezuela IBC             2865.85         -1.48     4.72
                                                  
                                                         
 Currencies                              daily %    YTD %
                                          change   change
                            Latest                
 Brazil real                2.5891          0.45    -8.97
                                                  
 Mexico peso                13.544          0.32    -3.80
                                                  
 Chile peso                  598.1         -0.48   -12.04
                                                  
 Colombia peso              2149.8          0.43   -10.13
                                                  
 Peru sol                    2.927          0.07    -4.58
                                                  
 Argentina peso             8.5125          0.00   -23.73
 (interbank)                                      
                                                  
 Argentina peso               13.5         -0.15   -25.93
 (parallel)                                       
                                                  
 
 (Additional reporting by Froilan Romero in Santiago, writing by
Walter Brandimarte; Editing by Grant McCool)