EMERGING MARKETS-Latam stocks slip as Brazil banking shares fall

jueves 5 de mayo de 2016 12:44 GYT

BRASILIA, May 5 (Reuters) - Latin American stocks edged
lower on Thursday, dragged down by the financial sector, mostly
in Brazil, although higher crude prices helped lift currencies
and stocks of oil producers.
    The MSCI Latin American stock index fell
about 0.4 percent, with Brazil's Bovespa stock index 
underperforming other regional benchmarks as shares of major
banks such as Bradesco SA and Itau Unibanco Holding
SA fell more than 1 percent.
    Brazilian markets have gone through a volatile week after
three months of solid gains as investors await the
opposition-controlled Senate's May 11 vote on whether to try
President Dilma Rousseff on charges that she broke budget laws.
Vice President Michel Temer would automatically become acting
president if she is put on trial. 
    Shares in Bradesco fell nearly 2 percent after UBS analysts
led by Phillip Finch downgraded the stock to "neutral" from
"buy." Bradesco has gained 45 percent so far this year,
reflecting a broad rally in Brazilian markets on hopes Temer
would be more investor-friendly than Rousseff.
    Nonvoting shares in Brazilian state-run oil producer
Petroleo Brasileiro SA rose nearly 1 percent, helping
to limit Bovespa's losses. Colombia's Ecopetrol also
edged up more than 1 percent ``as a wildfire in Canada and
escalating tensions in Libya lifted crude prices. 
    Latam currencies had small gains, with the Chilean peso
 outperforming peers by strengthening more than 0.5
percent as commodities prices rose.
    Key Latin American stock indexes and currencies at 1559 GMT:
 Stock indexes                             daily %     YTD %
                               Latest       change    change
 MSCI Emerging Markets            808.91     -0.57      2.44
 MSCI LatAm                      2174.03     -0.61     19.55
 Brazil Bovespa                 51836.03     -1.36     19.58
 Mexico IPC                     45234.59     -0.25      5.25
 Chile IPSA                      4013.43      0.18      9.05
 Chile IGPA                     19732.71      0.18      8.71
 Argentina MerVal               13369.81      1.13     14.51
 Colombia IGBC                   9705.44     -0.18     13.55
 Venezuela IBC                  15380.85      0.23      5.43
 Currencies                                daily %     YTD %
                                            change    change
 Brazil real                      3.5282      0.29     11.87
 Mexico peso                     17.7870      0.07     -3.13
 Chile peso                        665.9      0.59      6.58
 Colombia peso                    2952.7      0.00      7.33
 Peru sol                         3.3179      0.36      2.90
 Argentina peso (interbank)      14.2600     -0.11     -8.96
 Argentina peso (parallel)          14.6      0.48     -2.26
 (Reporting by Silvio Cascione; Editing by Richard Chang)