April 22, 2016 / 9:12 PM / 2 years ago

EMERGING MARKETS-Brazil stocks, currency fall after market holiday

(Updates prices, updates table)
    By Bruno Federowski and Paula Arend Laier
    SAO PAULO, April 22 (Reuters) - Brazil's equities and
currency fell on Friday as investors adjusted to a Latin
American sell-off the previous day, when the country's markets
were closed due to a holiday.
    Slumps in commodity prices and U.S. stocks drove investors
to seek refuge in safer assets on Thursday, hammering emerging
market securities.
    U.S.-listed shares of Vale SA  fell
steeply on Thursday, tracking a decline in iron ore prices. The
miner's Brazil-listed stocks caught up on Friday,
dropping over 8 percent and weighing on the benchmark Bovespa
stock index.
    Shares of state-controlled oil company Petróleo Brasileiro
SA, however, rose 2.85 percent as oil prices
rebounded from the previous day's tumble. Crude prices posted
their third straight week of gains amid signs a global supply
glut may be easing. 
    Shares of Petrobras, as the company is known, led
the Argentine stock exchange higher.
    Brazil's real currency weakened as the central bank
maintained its policy of purchasing dollars in futures markets
from local investors.
    The bank has bought around $32 billion so far this month
using instruments known as reverse currency swaps as the real
rallied on expectations of President Dilma Rousseff's ouster.
    Speaking at the United Nations, Rousseff warned Brazil is
going through a "grave" political moment. She could be removed
from office in weeks, pending a Senate judgment. 
    Key Latin American stock indexes and currencies:
 Stock indexes                             daily %     YTD %
                               Latest       change    change
 MSCI Emerging Markets            844.20     -1.11       7.5
 MSCI LatAm                      2212.76     -1.41     22.65
 Brazil Bovespa                 52907.88     -1.35     22.05
 Mexico IPC                     45612.86      0.12      6.13
 Chile IPSA                      3972.10     -0.36      7.93
 Chile IGPA                     19515.63     -0.28      7.52
 Argentina MerVal               13898.03     -0.18     19.04
 Colombia IGBC                  10147.29     -0.19     18.72
 Venezuela IBC                  15972.11     -0.87      9.49
 Currencies                                daily %     YTD %
                                            change    change
 Brazil real                      3.5697     -1.15     10.91
 Mexico peso                     17.4775     -0.09     -1.42
 Chile peso                        668.4     -0.51      6.18
 Colombia peso                    2949.8     -0.30      7.44
 Peru sol                         3.2679     -0.03      4.47
 (Reporting by Bruno Federowski and Paula Arend Laier; Editing
by Meredith Mazzilli and Tom Brown)
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