August 16, 2018 / 11:00 PM / 3 months ago

EMERGING MARKETS-Mexico stocks hit 6-wk low, while peso rebounds

 (Recasts with stock losses)
    SAO PAULO, Aug 16 (Reuters) - Mexicans stocks fell to a
six-week low, hit by losses in cement company Cemex, and
Brazilian equities dipped on Thursday, while the pesos of Mexico
and Colombia bounced back from steep losses sparked by jitters
due to the slump in Turkey's lira.
    Mexico's benchmark S&P/BMV IPC fell over 1 percent to
close at its lowest since early July, dragged down by 4.3
percent loss in Cemex after HSBC downgraded the
stock. 
    Brazil's benchmark Bovespa slipped 0.3 percent amid
concerns about October's presidential election after local media
reported the market's favorite candidate, Geraldo Alckmin, had
been questioned by investigators over alleged campaign financing
irregularities from past races. 
    "The market is volatile because we are nearing a very
uncertain presidential vote," said Marcelo Mesquita at fund
manager Leblon Equities. 
    Positive news from big companies helped offset losses.
    Shares of state utility Centrais Eletricas Brasileiras
 climbed 7.1 percent after the company's chief
executive said he was upbeat about the prospect of an auction of
four distribution units going ahead in late August as planned.
    Shares of Embraer gained 3.8 percent after
analysts at Morgan Stanley recommended ADRs of the aircraft
maker, saying the risk-reward balance had become attractive
because of the company's planned tie-up with Boeing Co.

    Mexico's peso gained 0.8 percent while Colombia's
currency added 0.9 percent against the dollar as traders
were relieved by news China would hold trade talks with the
United States this month while Turkey's lira currency continued
to rebound.
    Meanwhile, the Turkish lira stabilized as Turkish Finance
Minister Berat Albayrak assured thousands of investors and
economists on a Thursday conference call that the nation would
emerge stronger from the currency crisis.
    
Key Latin American stock indexes and currencies at 2140 GMT:  
    
    
 Stock indexes                          daily %   YTD %
                                        change    change
                              Latest              
 MSCI Emerging Markets         1021.57     -0.18    -11.82
                                                  
 MSCI LatAm                    2536.38      0.66    -10.32
                                                  
 Brazil Bovespa               76818.72     -0.34      0.55
                                                  
 Mexico IPC                   48059.06     -1.02     -2.62
                                                  
 Argentina MerVal             26938.75     -0.26    -10.40
                                                  
 Colombia IGBC                12048.23      0.85      5.96
                                                  
 Venezuela IBC                219356.3     36.52  17265.95
                                                  
                                                          
 Currencies                             daily %   YTD %
                                        change    change
                                                  
                              Latest              
 Brazil real                    3.9048     -0.14    -15.12
                                                  
 Mexico peso                   18.9910      0.81     3.73
                                                  
 Chile peso                      668.8     -0.82     -8.10
                                                  
 Colombia peso                 3019.15      0.92     -1.23
 Peru sol                        3.313      0.12     -2.29
                                                  
 Argentina peso (interbank)      29.61      1.32    -37.18
                                                  
 Argentina peso (parallel)        29.6      0.68    -35.03
                                                  
 
    

 (Reporting by Paula Arend Laier, Gram Slattery and Patricia
Duarte; Editing by Lisa Shumaker)
  
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