EMERGING MARKETS-Brazil stocks, currency rise on local politics, austerity measures

martes 24 de mayo de 2016 17:24 GYT
 

(Updates with closing prices)
    By Bruno Federowski
    SAO PAULO, May 24 (Reuters) - Brazil's stocks and currency
rose slightly on Tuesday after a minister accused of seeking to
hamper a corruption probe stepped down, while traders cheered
the announcement of austerity measures by interim President
Michel Temer.
    Romero Juca's resignation as planning minister on Monday was
seen by traders as a swift response by Temer's center-right
government to its first major scandal, which helped drive
Brazilian markets lower on Monday. 
    Excerpts from a taped conversation showed Juca agreed on the
need for a "national pact" to limit the graft investigation,
unleashing outrage two weeks after Temer took charge from
leftist President Dilma Rousseff.
    Also helping brighten the mood was the announcement of
measures, including a proposed constitutional amendment, that
would automatically limit growth in public spending.
 
    Shares of Petróleo Brasileiro SA rose 0.35
percent, lifting the benchmark Bovespa stock index.
Stocks of Petrobras, as the state-controlled oil company is
known, often track investors' mood toward the government.
    A 5.3 percent drop in shares of state-controlled lender
Banco do Brasil SA, however, limited gains for the
benchmark index, which closed up just 0.03 percent.
    Temer said he would consider closing a sovereign wealth fund
that owns about 2 billion reais ($563 million) in Banco do
Brasil equity, possibly selling the stock in financial markets
to raise funds.
    Brazil's real strengthened 0.19 percent,
outperforming most of its peers in Latin America. Mexico's peso
  rose 0.21 percent as an increase in commodity
prices boosted the appetite for assets among exporters of basic
products.

    Key Latin American stock indexes and currencies at 2105 GMT:
 Stock indexes                     Latest     Daily pct     YTD
                                                 change     pct
                                                         change
 MSCI Emerging Markets                787.66      -0.12   -0.66
 MSCI LatAm                         2,065.84       0.15   12.73
 Brazil Bovespa                    49,345.19       0.03   13.83
 Mexico IPC                        45,497.46       0.58    5.86
 Chile IPSA                         3,955.47       0.16    7.48
 Chile IGPA                        19,511.87       0.32    7.49
 Argentina MerVal                  12,363.00      -0.89    5.89
 Colombia IGBC                      9,780.42      -0.45   14.43
 Venezuela IBC                     15,236.19      -0.22    4.44
                                                               
 Currencies                           Latest  Daily pct     YTD
                                                 change     pct
                                                         change
 Brazil real                          3.5755       0.19   10.39
 Mexico peso                          18.480       0.21   -6.76
 Chile peso                            695.2      -0.14    2.09
 Colombia peso                      3,063.75      -0.07    3.44
 Peru sol                              3.346      -0.06    2.03
 Argentina peso (interbank)          14.0400      -0.39   -7.53
                                                         
 Argentina peso (parallel)             14.61       0.07   -2.33
                                                         
 

 (Reporting by Bruno Federowski; Additional reporting by Paula
Arend Laier; Editing by Chris Reese and Dan Grebler)