EMERGING MARKETS-Mexican and Colombian currencies rise on higher oil prices

lunes 29 de febrero de 2016 18:09 GYT

By Bruno Federowski
    SAO PAULO, Feb 29 (Reuters) - Latin American oil producers
Mexico and Colombia saw their currencies strengthen on Monday as
China announced fresh stimulus measures and Saudi Arabia vowed
to limit market volatility, pushing oil prices higher.
    China's central bank cut its reserve requirements ratio as
it seeks to cushion a painful transition to a consumption-driven
    Oil prices shot up 3 percent on Monday, boosting the Mexican
peso , which rose 0.93 percent and the Colombian
peso, which strengthened 1.44 percent. 
    Saudi Arabia also said it would work with producers to limit
market volatility and is committed to meeting a big part of
global oil demand based on commercial consideration, according
to state news agency SPA. 
    Meanwhile, data showed U.S. crude oil production fell in
December and Reuters survey reported lower crude output from
OPEC in February.  
    Chile's currency was down, due in part to a drop in the
price of copper. 
    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 2045 GMT:
 Stock indexes                             daily %     YTD %
                               Latest       change    change
 MSCI Emerging Markets            739.38     -0.09     -6.81
 MSCI LatAm                      1794.00      0.92     -2.85
 Brazil Bovespa                 42747.45      2.78     -1.39
 Mexico IPC                     43717.67      0.56      1.72
 Chile IPSA                      3715.84      0.11      0.97
 Chile IGPA                     18259.20      0.11      0.59
 Argentina MerVal               13115.95      1.44     12.34
 Colombia IGBC                   9189.88      0.08      7.52
 Venezuela IBC                  16394.06     -2.54     12.38
 Currencies                                daily %     YTD %
                                            change    change
 Brazil real                      4.0012      -0.1    -1.355
 Mexico peso                     18.1200      0.93     -4.91
 Chile peso                        695.8     -0.57      2.00
 Colombia peso                   3290.44      1.44     -3.68
 Peru sol                         3.5221      0.05     -3.07
 Argentina peso (interbank)      15.7600     -1.78    -17.62
 Argentina peso (parallel)         15.56      0.58     -8.29

 (Reporting by Bruno Federowski, Froilan Romero, and Nelson
Bocanegra; Additional reporting by Joanna Zuckerman Bernstein;
Editing by W Simon and Andrew Hay)