EMERGING MARKETS-Latin American stocks drop as commodities sag

lunes 25 de abril de 2016 11:01 GYT

SAO PAULO, April 25 (Reuters) - Latin American stocks fell
on Monday at the start of Brazil's corporate earnings seasons,
dragged down by lower commodities prices ahead of central bank
meetings in the United States and Japan this week.
    Brazil's Bovespa stock index slipped more than 1
percent, underperforming the broader MSCI Latin American stock
index as shares of miner Vale SA fell
more than 5 percent, hit by a drop in iron ore prices.
    Shares of steelmaker Usinas Siderurgicas de Minas Gerais SA
 sank more than 7 percent after it posted its seventh
quarterly loss in a row. Car rental company Localiza 
and retailer Lojas Renner were due to publish results
later in the day. 
    World stocks slipped at the start of the week, adding to
signs that a three-month rally in stocks was cooling. Investors
waited for a Federal Reserve rate decision on Wednesday and a
Bank of Japan policy update on Thursday. 
    Latin American currencies also fell, with the exception of
the Brazilian real, which traded slightly stronger as the
central bank refrained from intervening.
    "Markets are waiting for a possible central bank auction
today, but that will probably happen only if the dollar weakens
to 3.53 reais or less," said Jefferson Luiz Rugik, a currency
trader at local brokerage Correparti.
    The Brazilian central bank has stepped up its dollar
purchases in domestic futures markets, using instruments known
as reverse currency swaps, after the real surged on the growing
chances of impeachment of unpopular President Dilma Rousseff.
    Key Latin American stock indexes and currencies at 1435 GMT:
 Stock indexes                     daily %  YTD % change
                     Latest         change  
 MSCI Emerging          838.30       -0.82          6.43
 MSCI LatAm            2184.88       -0.91         20.51
 Brazil Bovespa       51980.53       -1.75         19.91
 Mexico IPC           45521.52        -0.2          5.92
 Chile IPSA            3953.04       -0.48          7.41
 Chile IGPA           19461.36       -0.28          7.22
 Argentina MerVal     13637.66       -1.99         16.81
 Colombia IGBC        10076.17        -0.7         17.89
 Venezuela IBC        15965.02       -0.04          9.44
 Currencies                        daily %  YTD % change
 Brazil real            3.5595        0.29         10.89
 Mexico peso           17.6115       -0.86         -2.17
 Chile peso              668.5       -0.01          6.16
 Colombia peso         2960.95       -0.48          7.04
 Peru sol               3.2811       -0.37          4.05
 Argentina peso        14.3400       -0.28         -9.47
 Argentina peso          14.83        0.34         -3.78
 (Reporting by Flavia Bohone and Paula Laier; Writing by Silvio
Cascione; Editing by Meredith Mazzilli)