December 7, 2018 / 2:47 PM / 3 days ago

EMERGING MARKETS-Most Latam currencies firm against a soft dollar; Brazil stocks rise

    By Agamoni Ghosh and Aaron Saldanha
    Dec 7 (Reuters) - Most Latin American currencies firmed on
Friday against a dollar rendered softer by U.S. jobs data, but
Brazil's real was on course for a fourth straight losing day,
hurt as outflows from the country exacted their toll.
     The greenback incurred a loss against a basket of
currencies as data showed U.S. job growth in November slowed -
suggesting some moderation in economic activity.

    Capital has been drawn away from emerging markets this year,
due in no small part to rising U.S. interest rates increasing
dollar assets' attractiveness.
    Friday's data comes after an inversion in part of the U.S.
Treasury yield curve earlier this week fed investor worries
about slowing global growth and a possible U.S. recession on the
horizon.
    In Latin America, Brazil's real fell 0.2 percent as
outflows took their toll. José Carlos Amado, a trader with
brokerage Spinelli, attributed the real's weakness to outflows
on the back of uncertainty overseas and low interest rates.     
    Analysts and traders broadly expect Brazilian benchmark
borrowing costs to be left at the record low of 6.5 percent at
the central bank's Dec. 11-12 policy meeting, wrote Mauricio
Oreng, senior Brazil strategist with Rabobank in a note, adding
he felt the same way.
    The Bovespa stock index rose 0.9 percent led by the
energy sector as global oil prices rose 5 percent with
Russia and the major Middle East producers in OPEC edging closer
to a deal to cut output..
    State-controlled oil firm Petroleo Brasileiro SA
gained about 3.1 percent, making it among the top gainers on the
Bovespa. 
    State-owned energy utility Centrais Eletricas Brasileiras SA
 (Eletrobras) led index gains with a 4.6 percent rise.
    Brazil's incoming mines and energy minister said he had not
yet made up his mind on the privatization of Eletrobras,
proposed under the current administration of President Michel
Temer.
    Mexico's peso, more exposed than many of its Latin
American peers to global trade, came off its lowest closing
level in almost six months clocked on Thursday to firm half a
percent. 
    U.S. President Donald Trump sounded an optimistic note about
negotiations with China on trade issues in an early morning
tweet.    
    The Colombian peso climbed 1 percent on Friday, on
pace to post its best weekly performance since Aug. 24.  
    Chile's peso was half a percent firmer, supported by
a significant gain in the price of copper, the country's main
export. 
    
    Key Latin American stock indexes and currencies at 1420 GMT
    
 Stock indexes                                daily %     YTD %
                                               change    change
                                  Latest               
 MSCI Emerging Markets               983.33      0.45     -15.5
 MSCI LatAm                         2609.63      1.48     -9.07
 Brazil Bovespa                    89637.96      0.89     17.32
 Mexico IPC                               -         -         -
 Chile IPSA                         5148.10      0.53      0.53
                                                       
 Argentina MerVal                         -         -         -
 Colombia IGBC                            -         -         -
                                                               
 Currencies                                   daily %     YTD %
                                               change    change
                                     Latest            
 Brazil real                         3.8840     -0.28    -14.69
 Mexico peso                        20.2425      0.52     -2.68
                                                       
 Chile peso                           671.6      0.50     -8.48
 Colombia peso                       3149.9      1.08     -5.33
 Peru sol                             3.366      0.24     -3.83
 Argentina peso (interbank)         37.4200      0.88    -50.29
                                                       
 
 (Reporting by Agamoni Ghosh and Aaron Saldanha ; Additional
reporting by Claudia Violante in Sao Paulo)
  
Nuestros Estándares:Los principios Thomson Reuters
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