EMERGING MARKETS-Brazil's real up on outlook for policymaking team

martes 25 de noviembre de 2014 12:22 GYT
 

SAO PAULO, Nov 25 (Reuters) - Brazil's currency strengthened
on Tuesday as investors latched on to the likely nomination this
week of market-friendly banker Joaquim Levy as finance minister
during President Dilma Rousseff's second term.
    Other Latin American currencies and stock indexes were
little changed, although Chile's peso weakened for the
second straight day.
    Rousseff will likely name Levy as her new finance minister
on Thursday as well as announce the rest of her second-term
economic team, a government official told Reuters on Tuesday.
    Levy, a University of Chicago-trained economist and a fiscal
hawk, is expected to take over the ministry on Dec. 1, the
official told Reuters. 
    "The market is in a good mood," said Jaime Ferreira, head of
currency trading at Intercam in Sao Paulo. "The new (economic)
team calmed the pessimism quite a bit."
    Ferreira said investors would likely await the new finance
minister's first public comments before pushing the real,
currently at 2.535 per dollar, towards a much stronger level. 
    Expectations for the finance minister announcement also
boosted Brazil's Bovespa stock index, with shares of
state-run firms such as oil producer Petroleo Brasileiro SA
, known as Petrobras, rising on the outlook for less
government intervention in the business.
    Elsewhere in Latin America, Chile's peso weakened
about 0.4 percent on declining prices for copper, the
country's main export. 
    
    Key Latin American stock indexes and currencies at 1612 GMT:
    
 Stock indexes                        daily %    YTD %
                             Latest    change   change
 MSCI Emerging Markets       1008.78    -0.24     0.85
                                               
 MSCI LatAm                  3097.31     0.15    -3.38
                                               
 Brazil Bovespa             55582.99     0.32     7.91
                                               
 Mexico IPC                 44604.84    -0.04     4.39
                                               
 Chile IPSA                  3974.63     0.07     7.45
                                               
 Chile IGPA                 19371.01     0.01     6.28
                                               
 Argentina MerVal           10006.14     0.29    85.61
                                               
 Colombia IGBC              12712.54    -0.93    -2.74
                                               
 Peru IGRA                  15316.05    -0.18    -2.78
                                               
 Venezuela IBC               2974.85     1.91     8.71
                                               
                                                      
 Currencies                           daily %    YTD %
                                       change   change
                              Latest           
 Brazil real                  2.5355     0.47    -7.05
                                               
 Mexico peso                  13.638     0.14    -4.46
                                               
 Chile peso                    598.2    -0.45   -12.05
                                               
 Colombia peso               2161.25    -0.02   -10.61
 Peru sol                      2.917    -0.17    -4.25
                                               
 Argentina peso               8.5150     0.03   -23.75
 (interbank)                                   
                                               
 Argentina peso                13.28     0.75   -24.70
 (parallel)                                    
                                               
 


 (Reporting by Bruno Federowski; Writing by Asher Levine)