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