EMERGING MARKETS-Latin American currencies mostly lower on China data

miércoles 15 de abril de 2015 13:26 GYT
 

SAO PAULO, April 15 (Reuters) - Latin American currencies
traded mostly lower on Wednesday after data showed a slowdown in
the economic growth of major trade partner China, though
Colombia's peso and Brazil's real bucked the regional trend.
    Equities were broadly higher, with the MSCI Latin American
stock index rising its most in over a week.
    China grew at its slowest pace in six years in the first
quarter, as expected, though some analysts caution that some
components in the data suggest additional underlying weakness.
 
    China is Brazil's top trading partner and a purchaser of
Latin American commodity exports such as soybeans, iron ore and
copper.
    But Brazil's real  also climbed 0.6 percent as
better-than expected domestic economic activity data offset
concern about China. 
    "We could still see moments of turbulence (in the exchange
rate) due to political uncertainty but it seems like we've
arrived at a place with less fluctuation," said Tarcisio
Rodrigues, head of foreign exchange at Sao Paulo's Banco
Paulista.
    However, Chile, which counts copper as its top export, saw
its peso drop about 0.5 percent against the dollar.
    Mexico's peso and Peru's nuevo sol posted
similar-sized drops.
    Colombia's peso, meanwhile, posted its biggest
intraday rise in about three weeks, supported by a sharp rise in
oil prices following a lower-than-expected build of crude
oil stocks in the United States. 
    Traders are watching closely for signs that President Dilma
Rousseff's government is making progress towards a fiscal
adjustment program aimed at staving off a credit downgrade.
    Brazil's Bovespa stock index more than made up for
the previous session's losses, driven by shares of widely-traded
firms such as state-run oil producer Petroleo Brasileiro SA
, known as Petrobras, and steelmaker Usiminas SA
.
    Shares of Usiminas soared after securities industry
regulator CVM demanded its two top shareholders extend a tender
offer for the rest of the steelmaker's common shares. Preferred
shares rose about 7 percent while common shares gained about 13
percent. 
    
    Key Latin American stock indexes and currencies at 1715 GMT:
    
 Stock indexes                 daily %    YTD %
                                change   change
                    Latest              
 MSCI Emerging        1038.76     0.19     8.41
 Markets                                
 MSCI LatAm            2638.8     1.19     -4.4
                                        
                                        
 Brazil Bovespa      54405.99     0.79     8.80
                                        
 Mexico IPC          45394.77     0.87     5.21
                                        
 Chile IPSA           4026.04     0.18     4.55
                                        
 Chile IGPA          19551.18     0.14     3.61
                                        
 Argentina MerVal    11893.02    -0.17    38.63
                                        
 Colombia IGBC       10456.63     0.87   -10.12
                                        
 Peru IGRA            12989.4     0.44   -12.20
                                        
 Venezuela IBC        5472.22     0.01    41.81
                                        
                                               
 Currencies                    daily %    YTD %
                                change   change
                       Latest           
 Brazil real           3.0428     0.64   -12.66
                                        
 Mexico peso          15.3052    -0.25    -3.67
                                        
 Chile peso            616.75    -0.41    -1.68
                                        
 Colombia peso        2513.19     1.66    -4.98
                                        
 Peru sol               3.125    -0.19    -4.67
                                        
 Argentina peso        8.8650    -0.06    -3.55
 (interbank)                            
                                        
 Argentina peso         12.64    -0.95    10.76
 (parallel)                             
                                        
 
 (Reporting by Asher Levine and Flavia Bohone Editing by W
Simon)