August 11, 2016 / 10:22 PM / 2 years ago

EMERGING MARKETS-Mexico stocks hit new high as LatAm assets mostly rise

(Updates with latest prices)
    By Bruno Federowski
    SAO PAULO, Aug 11 (Reuters) - Shares in Latin American
companies rose on Thursday, as stock indexes in the United
States and Europe raced higher, boosted by strong quarterly
corporate earnings reports and forecasts for a tighter crude
    In Mexico, the benchmark IPC stock index set a new
record high, closing up 1.14 percent, while the peso hit its
highest against the U.S. dollar in almost six weeks.
    Mexico's peso closed at 18.1575 per dollar, up 1
percent relative to Wednesday's reference price.
    In Brazil, the currency slipped as the central bank
took stronger action to weaken the currency, sidestepping gains
in other Latin American markets.
    But the country's stock exchange advanced more than
2.4 percent on the back of the bullish sentiment abroad and
strong earnings reports.  
    Other Latin American stocks and currencies also advanced as
strong U.S. jobs data kept alive optimism over global economic
strength, adding fuel to a five-session-long rally. 
    Key Latin American stock indexes at 2135 GMT:   
 Stock indexes                              Daily  YTD pct
                                              pct   change
                               Latest      change  
 MSCI Emerging Markets            907.60     0.51    14.29
 MSCI LatAm                     2,512.99     2.06    37.34
 Brazil Bovespa                58,299.57     2.42    34.49
 Mexico IPC                    48,341.95     1.14    12.48
 Chile IPSA                     4,151.63     0.42    12.81
 Chile IGPA                    20,505.89     0.37    12.97
 Argentina MerVal              15,313.85    -0.21    31.17
 Colombia IGBC                  9,763.44     0.39    14.23
 Venezuela IBC                 12,400.02     1.18   -15.00
 (Reporting by Bruno Federowski, additional reporting by Jean
Luis Arce, editing by G Crosse)
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