EMERGING MARKETS-Brazil currency slips as investors wait for Temer's agenda

jueves 12 de mayo de 2016 16:15 GYT
 

(Updates prices)
    BRASILIA, May 12 (Reuters) - Brazil's currency lost ground
on Thursday, as investors waited for interim President Michel
Temer to outline his policy framework following a Senate
decision to put Dilma Rousseff on impeachment trial.
    The real, Brazil's currency, weakened 0.8 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 on
Thursday afternoon, 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. 
        
    Key Latin American stock indexes and currencies at 2000 GMT:
 Stock indexes                             daily %     YTD %
                               Latest       change    change
 MSCI Emerging Markets            805.97     -0.25      1.74
                                                    
 MSCI LatAm                      2219.81      0.33     20.91
                                                    
 Brazil Bovespa                 53346.45       1.1     23.06
                                                    
 Mexico IPC                     45685.82      0.39      6.30
                                                    
 Chile IPSA                      4015.10      0.37      9.10
                                                    
 Chile IGPA                     19722.35      0.36      8.65
                                                    
 Argentina MerVal               13402.25     -0.99     14.79
                                                    
 Colombia IGBC                  10005.74      1.12     17.06
                                                    
 Venezuela IBC                  15368.74      0.02      5.35
                                                    
                                                            
 Currencies                                daily %     YTD %
                                            change    change
                                  Latest            
 Brazil real                      3.4720     -0.80     13.65
                                                    
 Mexico peso                     17.9710      0.11     -4.12
                                                    
 Chile peso                        685.2     -0.76      3.58
                                                    
 Colombia peso                      2946     -0.30      7.58
 Peru sol                          3.326      0.09      2.65
                                                    
 Argentina peso (interbank)      14.1500      0.42     -8.25
                                                    
 Argentina peso (parallel)         14.65     -0.34     -2.59
                                                    
 

 (Reporting by Silvio Cascione; Additional reporting by Joanna
Zuckerman Bernstein in Mexico City; Editing by Nick Zieminski
and Diane Craft)