EMERGING MARKETS-Brazil markets slip as investors wait for Temer's agenda

jueves 12 de mayo de 2016 11:57 GYT

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
 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)