EMERGING MARKETS-Mexican peso, stocks fall on oil price slump

lunes 8 de febrero de 2016 19:02 GYT
 

MEXICO CITY, Feb 8 (Reuters) - Mexico's peso sank on Monday
and stocks fell, dragged down by  fears of a global economic
slowdown and a drop in the price of oil, a key export for Latin
America's second-largest economy. 
    Brazilian markets were closed for the Carnival holiday. 
    Global oil markets fell 3 percent to settle down for a third
straight day on worries that U.S. crude stockpiles had reached
record highs, while a Saudi-Venezuela meeting to boost prices
showed little progress. 
    Mexico's peso  tumbled more than 1 percent to
18.6750 per dollar, slumping for a third straight day toward a
recently set record low of 18.80 per greenback.
    The central bank sold $400 million in two auctions to
support the currency.  
    Due to the sharp drop in oil prices, Mexican Finance
Minister Luis Videgaray said Mexico should prepare for budget
cuts next year and that state oil giant Pemex was already
working to curb its own spending. 
    Mexico's IPC index slid 1.05 percent to 454.82
points, hit by a slump in shares of Cemex <CMXCPO.MX, which fell
7.46 percent, cutting into big gains last week after it reported
a surprise fourth-quarter profit. 
    
 Latin American stock indexes and currencies at 2250 GMT:
 Stock indexes                             daily %     YTD %
                               Latest       change    change
 MSCI Emerging Markets            734.13     -0.74     -7.56
                                                    
 MSCI LatAm                      1732.24     -1.11     -5.33
                                                    
 Brazil Bovespa                 40592.09    Closed     -6.36
                                                    
 Mexico IPC                     42774.85     -1.05     -0.47
                                                    
 Chile IPSA                      3651.39     -0.14     -0.78
                                                    
 Chile IGPA                     17963.23     -0.12     -1.04
                                                    
 Argentina MerVal               11400.34     -0.18     -2.35
                                                    
 Colombia IGBC                   8701.74     -0.06      1.81
                                                    
 Venezuela IBC                  14372.64     -2.03     -1.48
                                                    
 
    
    

 (Reporting by Alexandra Alper; Editing by Dan Grebler)