EMERGING MARKETS-Brazil stocks rise on investor hope for pro-market finmin

viernes 21 de noviembre de 2014 12:45 GYT
 

MEXICO CITY, Nov 21 (Reuters) - Brazilian stocks boosted
Latin American markets on Friday, surging to a three-week high
amid investor speculation the government will name a
market-friendly finance minister to juice up stagnant growth. 
    The Bovespa rose 2.1 percent to 54,508.70 as reports
speculated that President Dilma Rousseff was considering a
private sector executive for the post. The move would signal a
shift away from the leftist, interventionist policies that many
blame for Brazil's weak economic growth in recent years.
    Respected Brazilian banker Joaquim Levy is among three
finalists to become the country's next finance minister, and
Rousseff could announce her pick later Friday, a government
official told Reuters on Friday. 
    Brazil's real also rallied, gaining 1.88 percent to
2.5246 per U.S. dollar as investors hailed the decision of
China's central bank to cut its benchmark interest rate for the
first time in more than two years to boost its cooling economy.
    The People's Bank of China said it was cutting one-year
benchmark lending rates by 40 basis points to 5.6 percent. China
is a top customer for Brazilian raw materials. 
    China's move came after European Central Bank head Mario
Draghi said "excessively low" inflation had to be raised quickly
by whatever means necessary, kindling expectations the ECB will
move to stimulate the euro zone economy.
    Mexico's peso gained 0.32 percent to 13.6065 per
dollar, despite data on Friday that showed the economy slowed in
the third quarter on weak domestic demand and uneven industrial
output. 
    
    Latin American stocks and currencies at 1630 GMT:
    
 Stock indexes                    daily %     YTD %
                       Latest      change    change
 MSCI LatAm           3,095.87        3.1     -6.19
                                           
                                           
 Brazil Bovespa      54,695.37       2.42      6.19
                                           
 Mexico IPC          44,887.77       1.53      5.06
                                           
 Chile IPSA           4,001.99       0.65      8.19
                                           
 Chile IGPA          19,473.45       0.63      6.84
                                           
 Argentina MerVal     9,934.05        2.7     84.27
                                           
 Colombia IGBC       12,965.59       0.85     -0.81
                                           
 Peru IGRA           15,309.54       0.81     -2.82
                                           
 Venezuela IBC        2,908.08       0.39      6.27
                                           
                                                   
 Currencies                       daily %     YTD %
                                   change    change
                        Latest             
 Brazil real            2.5236       1.88     -6.61
                                           
 Mexico peso           13.6065       0.32     -4.24
                                           
 Chile peso           593.4000       0.74    -11.51
                                           
 Colombia peso       2140.2500       0.78     -9.73
                                           
 Peru sol               2.9150       0.21     -4.25
                                           
 Argentina peso         8.5150       0.00    -23.75
 (interbank)                               
                                           
 Argentina peso        13.3500       1.12    -25.09
 (parallel)                                
                                           
 
 (Reporting by Alexandra Alper; Editing by James Dalgleish)