August 31, 2018 / 10:14 PM / 23 days ago

EMERGING MARKETS-Argentina's peso firms over 6 pct, Mexican peso flat

    MEXICO CITY, Aug 31 (Reuters) - Argentina's battered peso
rebounded on Friday, firming more than 6 percent, after the
central bank auctioned $250 million in dollar reserves and the
International Monetary Fund (IMF) expressed its support for
President Mauricio Macri's government.
    The currency weakened 20 percent on Wednesday and Thursday
alone after Macri said he would ask the IMF to advance
disbursements under a $50 billion financing deal, sparking
investor concern that Latin America's No. 3 economy may fail to
meet its debt obligations.
    Argentina has "full support of the Fund," the IMF said in a
statement on Friday, helping the currency to slightly recover. 
    Despite the economic tumult, Argentina's Merval stock index
 saw its third straight day of gains, closing on Friday
up 9.6 percent. Among the biggest gainers was bank Banco Macro
, whose shares soared 20.4 percent. 
    The Brazilian real and Chilean peso also strengthened. 
    Mexico's peso swung erratically during a roller coaster day
of news on talks between the United States and Canada aimed at
reaching a trilateral trade accord with Mexico, but ultimately
remained flat. The country's benchmark S&P/BMV IPC index
was also flat.
    Canada's foreign minister expressed confidence that a
trilateral North American Free Trade Agreement could be reached,
while U.S. President Donald Trump sent a notice to Congress
saying he intends to sign a new trade pact with Mexico, and with
Canada if it is willing. 
    
Key Latin American stock indexes and currencies at 1917 GMT:
        
 Stock indexes               Latest       Daily pct     YTD pct
                                             change      change
 MSCI Emerging Markets         1,056.12       -0.16       -8.68
                                                     
 MSCI LatAm                    2,483.15         1.8      -13.75
 Brazil Bovespa               76,885.48        0.63        0.63
 Mexico IPC                   49,512.19       -0.28        0.32
 Argentina MerVal             28,855.96        7.85       -4.02
 Colombia IGBC                12,236.32       -0.18        7.61
 Venezuela IBC               331,655.69         1.9   26,156.45
                                                               
 Currencies                      Latest   Daily pct     YTD pct
                                             change      change
 Brazil real                     4.0668        1.91      -18.53
 Mexico peso                    19.0975        0.09        3.15
 Chile peso                       678.8        0.18       -9.45
 Colombia peso                 3,045.15       -0.46       -2.07
 Peru sol                         3.295       -0.06       -1.76
 Argentina peso (interbank)     36.8000        6.66      -49.46
                                                     
 Argentina peso (parallel)           37        8.11      -48.03
                                                     
 
 (Reporting by Daina Beth Solomon
Editing by Tom Brown)
  
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