EMERGING MARKETS-Brazil's Bovespa pauses after rally, Latam currencies mostly stable

jueves 16 de abril de 2015 12:19 GYT
 

SAO PAULO, April 16 (Reuters) - Brazil's Bovespa stock index
 fell the most it had in nearly three weeks on Thursday
as investors took profits following a recent rally.
    The broader MSCI Latin American stock index 
remained in positive territory for the third straight session,
though, while most currencies in the region were little-changed.
    The Bovespa is up about 13 percent over the last month and
on Wednesday nearly crossed the 55,000 point threshold, a level
it has not breached since late last year. 
    Many investors have been encouraged by low prices following
a sell-off earlier in the year, as well as by perceptions that
political infighting over Brazil's fiscal adjustment efforts had
diminished.
    Thursday's losses in the Bovespa were driven mostly by a 4
percent drop in shares of state-run oil producer Petroleo
Brasileiro SA, known as Petrobras.
    The stock had been hovering near its lowest price in over 10
years in recent months due to investigations of a corruption
scandal, but it rebounded about 55 percent since mid-March.
Bargain hunters and foreign investors seeking exposure to Brazil
led that rally on hopes the fallout from the scandal would not
be as bad as originally expected.
    Currency markets were mostly calm, though the Brazilian real
  fluctuated near the 3.03 per dollar level. 
    "The market is trying to find a new level, whether its at 3
or beyond that," said Flavio Serrano, senior economist with
investment bank BESI in Sao Paulo. "Without any relevant news
we'll see (the real) oscillating at this level"
    Colombia's peso weakened about 0.5 percent, weighed
down by a drop in the price for oil, the country's main export. 
    
    Key Latin American stock indexes and currencies at 1554 GMT:
    
 Stock indexes                           daily %     YTD %
                             Latest       change    change
 MSCI Emerging Markets         1052.34      1.49      8.42
                                                  
 MSCI LatAm                    2652.31       0.8     -3.53
                                                  
 Brazil Bovespa               54463.91     -0.83      8.91
                                                  
 Mexico IPC                    45194.1     -0.15      4.75
                                                  
 Chile IPSA                    4032.92      0.02      4.73
                                                  
 Chile IGPA                   19578.25      0.02      3.75
                                                  
 Argentina MerVal            11940.159     -1.55     39.18
                                                  
 Colombia IGBC                10439.22     -0.06    -10.27
                                                  
 Peru IGRA                    13067.63      0.36    -11.67
                                                  
 Venezuela IBC                 5474.34      0.04    100.04
                                                  
                                                          
 Currencies                              daily %     YTD %
                                          change    change
                                Latest            
 Brazil real                    3.0215      0.41    -22.00
                                                  
 Mexico peso                    15.221      0.39    -14.39
                                                  
 Chile peso                      611.5      0.86    -13.97
                                                  
 Colombia peso                 2495.24      0.47    -22.57
 Peru sol                       3.1241      0.00    -10.60
                                                  
 Argentina peso                 8.8650      0.03    -26.76
 (interbank)                                      
                                                  
 Argentina peso                  12.69      0.87    -21.20
 (parallel)                                       
                                                  
 


 (Reporting by Asher Levine and Flavia Bohone; editing by Gunna
Dickson)