EMERGING MARKETS-Commodities lift Brazil, Argentina shares; Peru extends gains

martes 12 de abril de 2016 13:39 GYT
 

By Marcelo Teixeira
    SAO PAULO, April 12 (Reuters) - A combination of strong
gains in some key commodities and political developments in
Brazil and Peru helped to lift shares and currencies in Latin
America on Tuesday.
    A congressional committee in Brazil recommended late on
Monday the impeachment of President Dilma Rousseff on charges of
breaking budget laws, opening the way for a full lower house
vote expected to take place on Sunday. 
    "The political scene is increasingly difficult for the
government and the chance of impeachment is getting stronger,"
said Lerosa Investimentos in a note to clients.
    Investors believe a new government would improve prospects
for the economy in Brazil.   
    Shares of state-run companies such as Petroleo Brasileiro SA
 and Centrais Elétricas Brasileiras SA 
gained on the news, supported as well by the rise in oil prices 
after Russia and Saudi Arabia took another step towards an
agreement for a production freeze.
    Petrobras gained more than 4 percent. Brazil's Vale, the
world's largest iron ore exporter, gained as much as 5 percent
as values for its flagship product also jumped on Tuesday.
    But Brazil's currency interrupted its extended gains after
touching the highest mark against the dollar in eight months on
Monday.
    "The currency gained a lot yesterday and today the central
bank came to the market strongly," said Mário Battistel, from 
Fair brokerage.
    Brazil's central bank offered four times as much of
so-called reverse currency swaps to the market on Tuesday
morning,  pushing the real again above the 3.50 mark against the
dollar.
    In Argentina, state-run oil company YPF gained 
almost 4 percent.        
    Peru's select stock index extended gains
following election results over the weekend that put two
pro-business candidates in a runoff for the country's
presidency. The index, which gained almost 12 percent on Monday,
was up around 1 percent on Tuesday.
    Peru's sol also continued to gain against the
dollar, reaching 3.261.      
        
    Key Latin American stock indexes and currencies:
     
 Stock indexes                               daily %  YTD %
                                    Latest   change   change
 MSCI Emerging Markets           830,32      0,77     3,76
                                                      
 MSCI LatAm                      2175,25     2        16,54
 Brazil Bovespa                  51402,16    2,47     18,57
 Mexico IPC                      44905,71    0,32     4,49
 Chile IPSA                      3931,71     0,21     6,83
 Chile IGPA                      19280,85    0,22     6,22
 Argentina MerVal                12471,31    2,35     6,82
 Colombia IGBC                   10029,99    1,59     17,35
 Venezuela IBC                   15423,02    1,49     5,72
                                                      
 Currencies                                  daily %  YTD %
                                             change   change
                                 Latest               
 Brazil real                     3,5307      -1,07    11,79
                                                      
 Mexico peso                     17,4935     0,87     -1,51
                                                      
 Chile peso                      673,2       0,94     5,42
 Colombia peso                   3024,81     0,95     4,78
 Peru sol                        3,268       0,37     4,47
                                                      
 Argentina peso (interbank)      14,5300     -0,03    -10,65
                                                      
 Argentina peso (parallel)       14,96       0,00     -4,61
                                                      
 
 (Additional reporting by Paula Arend Laier and Patricia Duarte;
Editing by Diane Craft)