August 14, 2018 / 10:13 PM / in a month

EMERGING MARKETS-Latam stocks up as Turkey panic subsides, Argentina peso rebounds

 (Recasts with currency gains, updates prices)
    SAO PAULO, Aug 14 (Reuters) - Latin American equities
mounted a second day of a comeback on Tuesday as the region
shook off the impact of panic selling in Turkey's lira, while
the currencies of Mexico, Brazil and Argentina rebounded from
the global battering.  
    After a three-week drubbing, the lira pulled out
of a nosedive after the country's finance minister sought to
reassure investors.
    The Argentine peso climbed after that country's
central bank took a raft of measures to stabilize the volatile
currency on Monday, including increasing the benchmark interest
rate to 45 percent from 40 percent previously.

    Brazil's real and Mexico peso both rose
sharply alongside the lira, but currencies in Colombia,
Peru, and Chile all slipped.
    "A return to volatility cannot be ruled out if the Turkish
lira starts losing against the dollar again," Mexico's Banco
BASE said in a note to clients. 
    Brazil's benchmark Bovespa index climbed 1.4 percent
while Mexico's S&P/BMV IPC rose 0.67 percent.
    Food processor JBS SA and Estacio Participacoes
SA climbed nearly 3 percent while education firm
Kroton Educacional SA rose 2 percent.
    Travel operator CVC Brasil Operadora e Agencia de Viagens SA
 climbed over 3 percent after announcing a deal to buy
rival Esferatur for 245 million reais ($63.3 million).

    Holding company Bradespar SA, a major shareholder
in iron ore miner Vale SA surged 7.4 percent after
traders responded well to the firm's second-quarter results.
    "Considering a new dividend policy and expectations of
improving results at Vale in the coming quarters, we are still
recommending the stock," analysts at Mirae Asset Management
wrote in a note.
    
Key Latin American stock indexes and currencies at 2130 GMT:   
 Stock indexes                          daily %    YTD %
                                        change     change
                             Latest                
 MSCI Emerging Markets         1042.56      -0.07        -10
                                                   
 MSCI LatAm                    2589.78       1.31      -8.43
                                                   
 Brazil Bovespa               78602.11       1.43       2.88
                                                   
 Mexico IPC                   49096.13       0.67      -0.52
                                                   
 Argentina MerVal             26536.63       1.82     -11.74
                                                   
 Colombia IGBC                12027.71       0.28       5.78
                                                   
 Venezuela IBC                140157.2      19.47  1,0995.94
                                                   
                                                            
 Currencies                             daily %    YTD %
                                        change     change
                              Latest               
 Brazil real                    3.8662       0.78     -14.29
                                                   
 Mexico peso                   18.8860       1.19      4.31
                                                   
 Chile peso                      663.3      -0.48      -7.33
                                                   
 Colombia peso                 3011.61      -0.38      -0.98
 Peru sol                        3.299      -0.36      -1.88
                                                   
 Argentina peso (interbank)      29.62       1.18     -37.21
                                                   
 Argentina peso (parallel)        29.2       1.71     -34.14
                                                   
 
 (Reporting by Gram Slattery and Paula Arend Laier; Additional
reporting by Sheky Espejo in Mexico City; Editing by Bernadette
Baum and James Dalgleish)
  
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