EMERGING MARKETS-Latam currencies strengthen on oil, better sentiment

jueves 25 de febrero de 2016 17:29 GYT

(Updates prices)
    By Bruno Federowski
    SAO PAULO, Feb 25 (Reuters) - Latin American currencies
firmed on Thursday, supported by higher oil prices and slightly
better sentiment toward the region's emerging markets after
their recent slump.
    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 real closed up 0.2 percent at 3.9458 to the dollar,
nearly erasing its losses for the year, while the Chilean peso
hovered close to its highest in more than three months.
    Latin American markets were supported by a 3 percent jump in
crude oil futures after major producers confirmed a meeting and
news of project delays and job cuts in the industry suggested
production could slow. 
    The upward momentum came despite lingering concerns over
China's economy, which have weighed on global commodity prices
and the region's major commodity producers.
    In contrast, China's benchmark Shanghai Composite Index
 slid more than 6 percent on Thursday to post its biggest
loss in a month. 
    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, ending down 0.6 percent and underperforming
regional markets. Shares of Vale SA fell after the
miner reported its worst loss in 20 years. 
    Latin American stock indexes and currencies at 2100 GMT:
 MSCI Emerging Markets            735.61     -0.12     -7.25
 MSCI LatAm                      1780.62      0.54     -3.21
 Brazil Bovespa                 41724.60     -0.86     -3.75
 Mexico IPC                     43434.55      0.60      1.06
 Chile IPSA                      3693.51      0.41      0.36
 Chile IGPA                     18153.95      0.35      0.01
 Argentina MerVal               12935.94      2.44     10.80
 Colombia IGBC                   9106.15      1.21      6.54
 Venezuela IBC                  16819.73      0.87     15.30
 Currencies                                daily %     YTD %
                                            change    change
 Brazil real                      3.9458      0.18     -0.04
 Mexico peso                     18.1265      0.46     -5.20
 Chile peso                          692      0.55      2.49
 Colombia peso                   3308.19      0.83     -4.38
 Peru sol                         3.5271      0.06     -3.31
 Argentina peso (interbank)      15.3850     -0.23    -18.51
 Argentina peso (parallel)         15.61     -0.19     -9.39
 (Reporting by Bruno Federowski, additional reporting by Paula
Arend Laier and Anna Yukhananov; editing by G Crosse, Diane