EMERGING MARKETS-Latam stocks, currencies mostly up ahead of Fed meeting

lunes 19 de septiembre de 2016 12:45 GYT

SAO PAULO, Sept 19 (Reuters) - Latin American stocks and
currencies mostly rose on Monday, boosted by rising oil prices
and bets the Federal Reserve will strike a cautious tone in its
policy statement this week.
    Oil prices  rose 2 percent on Monday after
Venezuela hinted that OPEC and major producers could agree to a
market support deal, lifting the Colombian peso.
    But most traders kept their focus on global monetary policy
ahead of policy meetings by the Fed and the Bank of Japan on
    A range of mixed economic figures and conflicting remarks by
key Fed policymakers have kept investors guessing over the
timing of the next U.S. rate hike.
    J.P.Morgan revised its forecasts this week to continue to
show an initial increase in December 2016 followed by two hikes
in 2017. Previously, the bank forecast three rate hikes next
    "We continue to anticipate that inflation will slowly move
higher, though the decline in some measures of inflation
expectations could trim some of the upside risk to that
forecast," economist Mike Feroli wrote in a client note.
    In Japan, policymakers could well go in the opposite
direction by easing policy, though conflicting reports on what
it might do have stoked uncertainty.
    Brazil's benchmark Bovespa stock index rose 1.2
percent, with miners and steelmakers among the biggest gainers
despite lower China-traded iron ore prices .IO62-CNI=SI.
    Shares of Cia Siderúrgica Nacional SA jumped 8.3
percent, leading the gains in the index, after O Globo newspaper
reported that it is negotiating the sale of a minority stake in
a iron ore unit to China's CBSteel. 
    Stocks in Petróleo Brasileiro SA  also
rose ahead of the announcement of the state-controlled oil
company's strategic plan.
    Petrobras, as the company is known, will likely cut planned
investment by about a sixth and its 2020 output goal by 14
percent under the five-year strategic plan that could be
released as early as after markets close, according to analysts.
    Key Latin American stock indexes and currencies at 1610 GMT:
 Stock indexes                                daily %   YTD %
                                               change  change
 MSCI Emerging Markets                898.46     1.47    11.5
 MSCI LatAm                          2332.54      1.4   25.72
 Brazil Bovespa                     57695.76     1.08   33.09
 Mexico IPC                         45832.36     -0.2    6.64
 Chile IPSA                          4048.29    -0.46   10.00
 Chile IGPA                         20154.38    -0.39   11.03
 Argentina MerVal                   16146.37     2.01   38.30
 Colombia IGBC                       9981.52     0.05   16.78
 Venezuela IBC                      11937.82     0.11  -18.17
 Currencies                                   daily %   YTD %
                                               change  change
 Brazil real                          3.2582     0.28   21.14
 Mexico peso                         19.6390    -0.10  -12.27
 Colombia peso                       2917.26     1.26    8.64
 Peru sol                              3.388     0.15    0.77
 Argentina peso (interbank)          15.1700    -0.23  -14.42
 Argentina peso (parallel)              15.5     0.00   -7.94
 (Reporting by Bruno Federowski; Editing by Chris Reese)