EMERGING MARKETS-Latin American stocks drop as commodities sag
(Updates with final prices) SAO PAULO, April 25 (Reuters) - Latin American stocks fell on Monday at the start of Brazil's corporate earnings season, 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 nearly 2 percent, underperforming the broader MSCI Latin American stock index, as shares of miner Vale SA fell about 7.5 percent on a drop in iron ore prices. Shares of steelmaker Usinas Siderurgicas de Minas Gerais SA sank more than 10 percent after it posted its seventh straight quarterly loss. Car rental company Localiza and retailer Lojas Renner were due to release results later in the day. World stocks slipped at the start of the week, adding to signs a three-month rally 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 stronger as the central bank refrained from intervening. 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 2120 GMT: Stock indexes daily % YTD % change Latest change MSCI Emerging 839.20 -0.71 5.67 Markets MSCI LatAm 2188.32 -0.76 19.59 Brazil Bovespa 51861.71 -1.98 19.63 Mexico IPC 45581.20 -0.07 6.06 Chile IPSA 3953.20 -0.48 7.42 Chile IGPA 19454.17 -0.31 7.18 Argentina MerVal 13374.08 -3.89 14.55 Colombia IGBC 10049.54 -0.96 17.58 Venezuela IBC 15905.97 -0.41 9.03 Currencies daily % YTD % change change Latest Brazil real 3.5485 0.61 11.23 Mexico peso 17.5635 -0.59 -1.90 Chile peso 669.8 -0.21 5.96 Colombia peso 2968.65 -0.60 6.76 Peru sol 3.289 -0.61 3.80 Argentina peso 14.3225 -0.16 -9.36 (interbank) (Reporting by Flavia Bohone and Paula Laier; Writing by Silvio Cascione; Editing by Meredith Mazzilli and Tom Brown)
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