EMERGING MARKETS-Mexico peso sinks on fears oil output freeze far off
(Recasts, updates prices) By Bruno Federowski and Miguel Gutierrez SAO PAULO, Feb 16 (Reuters) - Mexico's peso and stock market slid on Tuesday after initial optimism over a potential deal to freeze crude output and boost oil prices faded as it became clear that a move was not imminent. Top oil exporters Russia and Saudi Arabia agreed on Tuesday to freeze production levels but said the deal was contingent on other producers joining in - a major sticking point with Iran absent from the talks and determined to raise production. Mexico's budget depends on income from state oil giant Pemex , which has seen oil production fall from a 3.4 million barrel per day peak in 2004. Mexico's peso , which has rebounded since hitting an all-time low last Thursday, strengthened 0.6 percent on Tuesday before closing down 0.27 percent at 18.88 per dollar. The IPC index also sank by 0.24 percent to 43,100.32 points, dragged down by Walmex shares which tumbled 2.06 percent. After market close, the retailer reported an 18 percent slump in net profit despite a pick-up in sales. Latin American stock indexes and currencies at 03:32 AM GMT: Latin American market prices from Reuters Stock indexes daily % YTD % Latest change change MSCI Emerging Markets 729.31 -0.29 -7.9 MSCI LatAm 1711.66 -0.15 -6.46 Brazil Bovespa 40947.70 2.13 -5.54 Mexico IPC 43100.32 -0.24 0.29 Chile IPSA 3714.33 0.94 0.93 Chile IGPA 18222.45 0.7 0.39 Argentina MerVal 11553.66 0.86 -1.04 Colombia IGBC 8766.39 -0.52 2.56 Venezuela IBC 15590.00 2.92 6.87 Currencies daily % YTD % change change Latest Brazil real 4.0736 -0.14 -3.11 Mexico peso 18.88 -0.27 -8.83 Chile peso 709.2 0.00 0.07 Colombia peso 3413 0.00 -7.14 Peru sol 3.511 0.00 -2.76 Argentina peso (interbank) 14.8380 -0.26 -12.51 Argentina peso (parallel) 15.03 -0.20 -5.06 (Reporting by Bruno Federowski and Miguel Gutierrez; Writing by Alexandra Alper; Editing by Paul Simao and Jacqueline Wong)
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