EMERGING MARKETS-Latam stocks track global markets higher

miércoles 3 de diciembre de 2014 14:56 GYT
 

SAO PAULO, Dec 3 (Reuters) - Latin American stocks advanced
on Wednesday after four days of weak performance as investors
reacted to encouraging U.S. economic data and picked up cheap
shares.
    The region's currencies were mostly stronger against the
dollar following recent losses that were sparked by a decline in
prices for oil and other commodities.
    Data released Monday showed the U.S. services sector grew
more than expected in November, helping support a gain in U.S.
shares. Latin American markets, battered in recent days by a
drop in risk appetite, followed suit, with investors picking up
shares of the most widely traded firms.
    Brazil's Bovespa stock index snapped a five-session
losing streak, led by shares in state-run oil producer Petroleo
Brasileiro SA, which tend to attract a large number
of foreign investors. Petrobras shares have lost over 20 percent
of their value this year as the company deals with political
uncertainty, declining oil prices and a developing corruption
scandal. 
    Mexico's IPC index rebounded from six-week lows, led
by shares of retail giant Walmex.
    The Brazilian real posted its biggest gain in a week
as traders eyed a likely 50 basis point hike in Brazil's
benchmark Selic interest rate, expected to be announced by the
central bank after the market close.
    "The (currency) outlook is still a bit undefined in the
short term," said Mario Battistel, head of currency trading at
brokerage Fair in Sao Paulo. "We'll have more signals of this
with the central bank decision, but we will also need to watch
other factors, such as the bank's meeting minutes and changes to
fiscal policy."
    
    Key Latin American stock indexes and currencies at 1844 GMT:
    
 Stock indexes             Latest        Daily  YTD pct
                                           pct   change
                                        change  
 MSCI Emerging Markets         985.42     0.09    -1.82
                                                
 MSCI LatAm                  2,912.67     1.31   -10.18
                                                
 Brazil Bovespa             52,317.45     1.37     1.57
 Mexico IPC                 43,296.23     0.67     1.33
 Chile IPSA                  3,952.71      0.1     6.85
 Chile IGPA                 19,301.17     0.08     5.89
 Argentina MerVal           9,520.779     1.51    76.60
 Colombia IGBC              11,909.65     1.07    -8.89
 Peru IGRA                  15,090.52     0.22    -4.21
 Venezuela IBC               2,955.08    -0.18     7.98
                                                       
 Currencies                    Latest    Daily  YTD pct
                                           pct   change
                                        change  
 Brazil real                   2.5552     0.72    -7.76
 Mexico peso                  14.0985     0.05    -7.58
 Chile peso                     610.2     0.62   -13.78
 Colombia peso                 2287.3     0.38   -15.53
 Peru sol                       2.944    -0.17    -5.13
 Argentina peso                8.5400     0.00   -23.98
 (interbank)                                    
                                                
 Argentina peso                 12.97     0.23   -22.90
 (parallel)                                     
                                                
 
        

 (Reporting by Bruno Federowski; Editing by Peter Galloway)