EMERGING MARKETS-Latam stocks, currencies seesaw on higher oil, Fed jitters
(Updates with final prices) By Bruno Federowski SAO PAULO, Oct 4 (Reuters) - Most Latin American stocks and currencies seesawed on Tuesday as investors reacted to local issues as well as rising oil prices and uncertainty over U.S. monetary policy. Crude oil prices drifted, rising early to hit four-month highs on optimism about an OPEC deal to freeze output levels, then fading as a surging dollar weighed on greenback-denominated commodities. The Mexican peso closed down 0.15 percent against the dollar, after strengthening earlier in the day. The Colombian peso weakened 1.64 percent, extending losses after voters rejected a peace deal with Marxist FARC rebels, and the Brazilian real fell 1.54 percent. Volatility has spiked in emerging markets over the last few months as traders seek to decipher the U.S. Federal Reserve's strategy for increasing interest rates. Contradictory comments by Fed officials have boosted uncertainty over when rates will rise for only the second time in a decade. Richmond Fed President Jeffrey Lacker said he would have voted in favor of an interest rate hike at the Fed's September policy meeting had he been able to vote, reflecting the growing pressure on Fed Chair Janet Yellen to raise rates. Brazil's benchmark Bovespa stock index seesawed. Shares of Itaúsa Investimentos Itaú SA weighed on the index on a report that it could make an offer for the fuel distribution unit of state-controlled oil company Petróleo Brasileiro SA. But other financial shares rose, providing some support. Key Latin American stock indexes and currencies at 2140 GMT: Stock indexes daily % YTD % change change Latest MSCI Emerging Markets 915.61 0.44 15.3 MSCI LatAm 2421.40 0.21 32.33 Brazil Bovespa 59339.23 -0.21 36.88 Mexico IPC 47909.27 0.65 11.48 Chile IPSA 4063.26 0.65 10.41 Chile IGPA 20254.27 0.54 11.58 Argentina MerVal 16873.83 0.15 44.53 Colombia IGBC 9847.55 0.36 15.21 Venezuela IBC 13049.80 -0.49 -10.55 Currencies daily % YTD % change change Latest Brazil real 3.2251 -1.54 22.38 Mexico peso 19.325 -0.15 -10.84 Chile peso 663.20 -0.15 7.01 Colombia peso 2979 -1.64 6.39 Peru sol 3.401 -0.50 0.38 Argentina peso (interbank) 15.1675 0.20 -14.41 Argentina peso (parallel) 15.52 0.51 -8.05 (Reporting by Bruno Federowski; Editing by David Gregorio and Grant McCool)
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