EMERGING MARKETS-Brazil's real falls after central bank intervenes

lunes 2 de mayo de 2016 12:22 GYT

BRASILIA, May 2 (Reuters) - Brazil's real weakened nearly 2
percent on Monday, hurt by a drop in global commodities prices
and heavy central bank intervention aimed at curbing gains in
the currency, which recently hit eight-month highs. 
    Other Latin American currencies and stock markets saw light
traded as holidays in Europe and Asia reduced volumes and risk
appetite. Commodities prices fell 0.7 percent as Brent
crude fell nearly 2 percent.
    The Brazilian central bank offered $2 billion in reverse
swaps earlier on Monday, the second day of government
intervention. The real weakened nearly 2 percent to
3.5068 to the U.S. dollar.
    Brazil's currency has strengthened partly due to hopes of a
more investor-friendly government in Brasilia ahead of the
expected suspension of leftist President Dilma Rousseff during
an impeachment trial.
    Economists, however, warn that a stronger currency may hurt
exports and delay Brazil's recovery from its worst recession in
    "Favorable domestic drivers would have had a significantly
larger impact on the real were it not for heavy central bank
intervention," Goldman Sachs Alberto Ramos and Tiago Severo
wrote in a research report.   
    In equities markets, bank shares led the Brazilian Bovespa
stock index slightly lower, a reaction to rig builder
Sete Brasil Participações SA's move to file for protection from
creditors on Friday.
    Itaú Unibanco Holding SA, Banco Bradesco SA
, Banco Santander Brasil SA and
state-controlled Caixa Econômica Federal and Banco do
Brasil SA all had Sete Brasil as client. 
    Key Latin American stock indexes and currencies at 1543 GMT:
 Stock                         Latest    daily %   YTD % change
   indexes                               change    
 MSCI Emerging Markets         835.21    -0.59     5.8
 MSCI LatAm                    2259.22   -1.43     25.26
 Brazil Bovespa                53736.65  -0.32     23.96
 Mexico IPC                    45623.53  -0.35     6.16
 Chile IPSA                    4006.25   0.1       8.86
 Chile IGPA                    19691.47  0.18      8.48
 Argentina MerVal              13722.97  0         17.54
 Colombia IGBC                 9944.02   -0.18     16.34
 Venezuela IBC                 15749.64  0.5       7.96
 Currencies                    Latest    daily %   YTD % change
 Brazil real                   3.5068    -1.96     12.55
 Mexico peso                   17.2470   -0.45     -0.10
 Chile peso                    662.1     -0.32     7.19
 Colombia peso                 2833.47   0.44      11.85
 Peru sol                      3.2909    -0.12     3.74
 Argentina peso (interbank)    14.2300   0.25      -8.77
 Argentina peso (parallel)     14.63     0.21      -2.46
 (Reporting by Asher Levine; Editing by Paul Simao)