EMERGING MARKETS-Brazil markets slip as investors wait for Temer's agenda
BRASILIA, May 12 (Reuters) - Brazilian equities and currency lost ground on Thursday, tracking global markets lower, as investors awaited for interim President Michel Temer to outline his policy framework following a Senate decision to put Dilma Rousseff on impeachment trial. Gains in shares of JBS SA, which rose 14 percent after announcing a plan to list international operations in New York, helped limit losses in the benchmark Bovespa stock index . The index seesawed most of the session. The real, Brazil's currency, weakened about 1 percent, erasing recent gains after the central bank eased upward pressure on the currency by selling reverse currency swaps for a second day. Temer, who plans to host a news conference in Brasilia at 3 p.m. local time (1800 GMT), is expected to propose an overhaul of the nation's pension system at the forefront of his agenda, key advisers told Reuters. He tapped Henrique Meirelles to be finance minister, giving the former banker the daunting task of fixing public finances and pulling the country out of its worst recession in decades. "The political transition offers the hope, but not the certainty, of better policies," wrote Alberto Ramos, head of Latin America economic research at Goldman Sachs, in a note. Senators voted 55 to 22 to put Rousseff on trial, ending more than 13 years of rule by her leftist Workers Party. Chances are small that Rousseff, a 68-year-old economist and former guerrilla fighter, is acquitted in a trial that could last as long as six months, according to analysts. Elsewhere in Latin America, the Chilean peso weakened as commodities prices fell. Stocks were little changed in Mexico, although rose in Colombia and Chile. Shares in state-controlled lender Banco do Brasil SA dropped as much as 5.6 percent after posting the worst quarterly results in seven years. Key Latin American stock indexes and currencies at 1534 GMT: MSCI Emerging Markets 804.53 -0.43 1.74 MSCI LatAm 2193.57 -0.85 20.91 Brazil Bovespa 52679.38 -0.16 21.52 Mexico IPC 45501.94 -0.01 5.87 Chile IPSA 4006.55 0.16 8.87 Chile IGPA 19685.52 0.18 8.45 Argentina MerVal 13349.29 -1.38 14.34 Colombia IGBC 9983.61 0.9 16.80 Venezuela IBC 15367.21 0.01 5.34 Currencies daily % YTD % change change Latest Brazil real 3.4947 -1.42 12.94 Mexico peso 17.9900 0.00 -4.22 Chile peso 683.1 -0.45 3.89 Colombia peso 2937.67 -0.02 7.88 Peru sol 3.3309 -0.06 2.49 Argentina peso (interbank) 14.2075 0.02 -8.62 Argentina peso (parallel) 14.62 -0.14 -2.39 (Reporting by Silvio Cascione; Editing by Nick Zieminski)
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