February 28, 2019 / 3:14 PM / 21 days ago

EMERGING MARKETS-Latam stocks, currencies dip; Trump-Kim meet's early end hits sentiment

    By Aaron Saldanha
    Feb 28 (Reuters) - Stocks in Latin America fell on Thursday,
and most currencies in the region softened against the dollar
after a summit between U.S. President Donald Trump and North
Korean leader Kim Jong Un ended abruptly.
    Trump and Kim curtailed their meeting in Vietnam early after
failing strike a deal, which Fernanda Consorte, a currency 
strategist at Banco Ourinvest, said contributed to negative
sentiment.    
    Brazil's Bovespa index dropped 0.7 percent on
broad-based declines, with Ambev down 3 percent after
reporting a lower recurring net profit.
    The Latin American unit of Anheuser Busch InBev
also pointed to a likely pick-up in costs in Brazil during 2019
resulting from currency depreciation and higher commodity
prices.
    State-run oil company Petroleo Brasileiro SA (Petrobras)
kept the index from slipping deeper into negative territory
after its chief executive said the sale of its distribution unit
 was still a possibility.
    Petrobras' common shares were 1.3 percent higher,
while its preferred shares were up 1 percent.  
    Brazil's real marked time in muted trade. Data showed
that growth of the country's economy, Latin America's largest, 
nearly stalled in the fourth quarter, auguring a challenging
2019.
    Mexico's peso was 0.1 percent lower.
    Chile's peso fell 0.2 percent to track a dip in the
price of copper, Chile's top export, on concerns over
demand from top consumer China.    
    The country's jobless rate in the November to January period
rose slightly from the previous rolling three-moth period to 6.8
percent.
    Stocks in Chile slid 0.8 percent, with lithium
producer Sociedad Quimica y Minera de Chile's preferred shares
 leading the declines with a 2.4 percent drop after
reporting a lower fourth-quarter profit. 
    Argentina's stocks benchmark dipped 0.1 percent,
while the country's peso softened.
    
    Key Latin American stock indexes and currencies at 1432 GMT
    
 Stock indexes                                        daily %
                                          Latest       change
 MSCI Emerging Markets                      1053.37     -0.74
 MSCI LatAm                                 2863.63     -0.42
 Brazil Bovespa                            96656.40     -0.67
 Mexico IPC                                       -         -
 Chile IPSA                                 5332.38     -0.75
 Argentina MerVal                          35329.47     -0.05
 Colombia IGBC                                    -         -
                                                             
 Currencies                                           daily %
                                                       change
                                             Latest  
 Brazil real                                 3.7267      0.08
 Mexico peso                                19.1830     -0.11
 Chile peso                                  650.35     -0.22
 Colombia peso                              3073.91     -0.16
 Peru sol                                     3.302     -0.18
 Argentina peso (interbank)                 38.8800     -0.13
                                                     
 

 (Reporting by Aaron Saldanha in Bengaluru)
  
Nuestros Estándares:Los principios Thomson Reuters
0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below