EMERGING MARKETS-Latam currencies strengthen despite oil, China woes

jueves 25 de febrero de 2016 12:49 GYT
 

By Bruno Federowski
    SAO PAULO, Feb 25 (Reuters) - Latin American currencies
firmed on Thursday as slightly better sentiment toward the
region's emerging markets after their recent slump offset a drop
in oil prices and a tumble in Chinese stocks.
    Regional currencies, including the Mexican peso 
, the Colombian peso and the Brazilian real
, have all rebounded after falling to their respective
all-time lows in recent weeks.
    The move came despite persistent weakness in oil prices and
lingering concerns over China's economy, which have weighed on
global commodity prices.
    China's benchmark Shanghai Composite Index slid 6.4
percent on Thursday to post its biggest loss in a month, while
crude prices resumed their decline on concerns about oversupply
and weak global growth.  
    Emerging market assets should remain volatile until the
global outlook becomes clearer, Bank of America Merrill Lynch
analysts Alberto Ades wrote in a client note. The bank's
favorite "long picks" for emerging markets are Russia, India and
Brazil, he added. 
    Brazilian stocks seesawed following a heavy batch of
corporate results, with shares of Vale SA falling
after the miner reported its worst loss in 20 years.
 
    Banco do Brasil SA stocks were volatile after the
state-controlled lender published estimates that investors said
do not reflect the country's profound economic downturn.
 
    Shares of Gerdau SA shed nearly 7 percent after
federal police raided the steelmaker's offices and issued an
arrest warrant for its CEO on suspicions of tax evasion.
 
    
    Latin American stock indexes and currencies at 1400 GMT:
 Stock indexes                Latest     Daily   YTD pct
                                          pct     change
                                        change   
 MSCI Emerging Markets          734.76    -0.24     -7.25
                                                 
 MSCI LatAm                   1,776.02     0.28     -3.21
 Brazil Bovespa              41,712.12    -0.88     -3.78
 Mexico IPC                  43,063.28    -0.26      0.20
 Chile IPSA                   3,682.41     0.11      0.06
 Chile IGPA                  18,109.19      0.1     -0.23
 Argentina MerVal            12,822.51     1.54      9.83
 Colombia IGBC                9,076.03     0.88      6.19
 Venezuela IBC               16,760.06     0.51     14.89
                                                         
 Currencies                   Latest     Daily   YTD pct
                                          pct     change
                                        change   
 Brazil real                    3.9441     0.30      0.07
 Mexico peso                   18.1680     0.23     -5.16
 Chile peso                      692.4     0.49      2.50
 Colombia peso                3,315.47     0.61     -4.41
 Peru sol                       3.5301    -0.03     -3.29
 Argentina peso (interbank)    15.3650    -0.10    -15.51
                                                 
 Argentina peso (parallel)       15.57     0.06     -8.35
                                                 
 
 (Reporting by Bruno Federowski, additional reporting by Paula
Arend Laier; editing by G Crosse)