November 22, 2016 / 10:52 PM / 2 years ago

EMERGING MARKETS-Brazil, Mexico shares rise on risk appetite, opportunities

By Bruno Federowski and Miguel Gutierrez
    SAO PAULO/MEXICO CITY, Nov 22 (Reuters) - Brazilian and
Mexican stocks rose on Tuesday, helped by more external appetite
for risk and investors buying in after a sell off prompted by
Donald Trump's U.S. election victory.
    Mexico's IPC stock index closed up more than 1
percent. Brazil's benchmark Bovespa stock index was more
than 1.4 percent higher, rising for the third straight day, as
hopes of higher prices of basic products lifted shares of
miners, steelmakers and pulp producers.
    Preferred shares of Suzano Papel e Celulose SA 
rose after the company agreed to increase prices of its pulp
exports to China by 3.8 percent beginning in December.
    Rival Fibria Celulose SA later said it would also
raise prices for the Asian market. 
    Shares of miners and steelmakers, such as Cia Siderúrgica
Nacional SA and Vale SA, also rose. Many
traders hope heavy infrastructure spending under U.S.
President-elect Donald Trump translates into higher prices of
industrial metals.
    Wall Street's three main stock indexes ended at record highs
on Tuesday, while European shares also rose on expectations that
markets would benefit from President-elect Trump's policies.
    The Mexican peso weakened more than 0.6 percent
after solid economic data from the United States strengthened
the dollar and raised expectations of a Federal Reserve rate
hike next year.    

    Key Latin American stock indices at 2209 GMT: 
 Stock indexes                            daily %    YTD %
                                           change   change
 MSCI Emerging Markets            857.45     1.19     7.97
 MSCI LatAm                      2330.75     1.03    27.38
 Brazil Bovespa                 61954.47     1.45    42.92
 Mexico IPC                     44838.76     1.07     4.33
 Chile IPSA                      4216.62     -0.4    14.58
 Chile IGPA                     21032.33    -0.52    15.87
 Argentina MerVal               17306.81     2.74    48.24
 Colombia IGBC                   9697.45    -0.46    13.46
 Venezuela IBC                  26190.22     -0.7    79.53

 (Reporting by Bruno Federowski, Flavia Bohone and Miguel Angel
Gutierrez; Editing by Lisa Von Ahn and Diane Craft)
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