EMERGING MARKETS-Latam currencies rise on China stimulus measures

lunes 29 de febrero de 2016 11:20 GYT
 

By Bruno Federowski
    SAO PAULO, Feb 29 (Reuters) - Most Latin American currencies
strengthened on Monday after China announced fresh stimulus
measures, but the Chilean peso was steady as weak economic data
boosted bets that the central bank could hold rates steady for
longer.
    Chile's industrial output fell in January, hit by weakness
in mining activity as copper production slumped 13.8 percent
from the year before. Miners have been scaling back their
operations as weak demand in top-consumer China keeps copper
prices near multi-year lows.  
    "All in all, today's data suggest the economy remained weak
at the start of 2016," Adam Collins, assistant economist with
Capital Economics, wrote in a client note. "Monetary policy is
also likely to remain accommodative given the fragile nature of
the economy."
    Chile's central bank held its benchmark rate steady at 3.5
percent in February, but minutes from the meeting showed
policymakers considered an increase. 
    Other Latin American currencies strengthened after China's
central bank cut its reserve requirements ratio as it seeks to
cushion a painful transition to a consumption-driven economy.
 
    Higher crude prices also helped lift currencies from
oil-heavy economies, such as the Mexican peso  
and the Colombian pesos.
    Shares of Brazilian state-controlled oil company Petroleo
Brasileiro SA rose, boosting the country's benchmark
Bovespa stock index. 
    An up to $10 billion credit line from China Development Bank
could help Petrobras, as the company is known, pay nearly all
its $12 billion in maturing debt in 2016, a source told Reuters
on Friday. 
    
    Key Latin American stock indexes and currencies at 1500 GMT:
 Stock indexes                                daily %    YTD %
                                               change   change
                                   Latest              
 MSCI Emerging Markets                739.00    -0.14    -6.81
 MSCI LatAm                          1793.87     0.92    -2.85
 Brazil Bovespa                     42259.95      1.6    -2.51
 Mexico IPC                         43368.03    -0.24     0.91
 Chile IPSA                          3713.85     0.06     0.91
 Chile IGPA                         18247.69     0.05     0.53
 Argentina MerVal                   13195.54     2.05    13.02
 Colombia IGBC                       9187.03     0.05     7.48
 Venezuela IBC                      16834.32     0.08    15.40
                                                              
 Currencies                                   daily %    YTD %
                                               change   change
                                      Latest           
 Brazil real                          3.9616     0.90    -0.37
 Mexico peso                         18.1200     0.93    -4.91
 Chile peso                            691.5     0.04     2.63
 Colombia peso                        3320.5     0.52    -4.55
 Peru sol                              3.524     0.00    -3.12
 Argentina peso (interbank)          15.5300    -0.32   -16.40
                                                       
 Argentina peso (parallel)              15.6     0.32    -8.53
                                                       
 

 (Reporting by Bruno Federowski; Editing by W Simon)