EMERGING MARKETS-Latam stocks, currencies mostly down on Fed uncertainty
(New throughout, updates prices and market activity) By Bruno Federowski SAO PAULO, Oct 7 (Reuters) - Most Latin American stocks and currencies fell on Friday as a high-ranking Federal Reserve official minimized a surprising drop in U.S. jobs growth. U.S. job growth unexpectedly slowed in September for the third straight month, surprising many traders who had bet on a robust reading. Emerging markets gained after the report as investors pared back bets on a U.S. rate hike later this year that could drain capital away from high-yielding assets. But most turned lower a few hours later after Fed Vice Chair Stanley Fischer said the figures were close to an ideal "Goldilocks" report. The Mexican and Colombian pesos weakened, also pressured by a drop in crude prices as traders booked profits from a rally to four-month highs. Brazil's benchmark Bovespa stock index seesawed but remained above the 60,000 milestone for the third straight day. Concerns over the economic fallout from Britain's decision to leave the European Union also weighed on appetite for emerging market assets. The pound sterling slumped to a three-decade low in a morning "flash crash", though it later recovered to trade about 1.5 percent lower. Key Latin American stock indexes and currencies at 1635: Stock indexes daily % YTD % Latest change change MSCI Emerging Markets 913.08 -0.43 15.48 MSCI LatAm 2438.43 -0.22 33.56 Brazil Bovespa 60624.28 -0.03 39.85 Mexico IPC 47540.22 -0.84 10.62 Chile IPSA 4076.65 -0.02 10.77 Chile IGPA 20322.61 -0.01 11.96 Argentina MerVal 17030.61 -0.65 45.87 Colombia IGBC 9928.09 0.07 16.15 Venezuela IBC 13402.45 0.5 -8.13 Currencies daily % YTD % change change Latest Brazil real 3.2281 -0.20 22.27 Mexico peso 19.3070 -0.37 -10.76 Chile peso 669.8 -0.46 5.96 Colombia peso 2925.4 -0.68 8.34 Peru sol 3.407 0.03 0.21 Argentina peso (interbank) 15.2150 0.10 -14.67 Argentina peso (parallel) 15.52 0.32 -8.05 (Reporting by Bruno Federowski; Editing by David Gregorio)
© Thomson Reuters 2017 All rights reserved.