January 21, 2019 / 2:26 PM / 3 months ago

EMERGING MARKETS-Brazil stocks ease from record-high; Latam currencies weaken

    Jan 21 (Reuters) - Brazil stocks eased-off from record highs
on Monday echoing a weaker tone on global equities after data
showed China's 2018 economic growth was the slowest in 28 years,
while currencies in Latin America fell against a firm dollar.
    The Bovespa, which hit several record highs this
month, fell 0.9 percent dragged down by banking and energy
stocks amid cautious investor sentiment and low-volume trading
as stock exchanges in United States remain shut due to the
Martin Luther King Jr. Day.  
    The biggest loser on the index was oil-marketing firm Cosan
, which fell over 3 percent after it announced an offer
to acquire preferred shares of its subsidiary Comgas,
which do not trade on the benchmark index
    Investor focus also remained on President Jair Bolosnaro's
trip to the World Economic Forum, where he is expected to
deliver a speech detailing the government's economic reform
agenda and signal Brazil's willingness to open up more trade and
reduce the bureaucracy of the economy.
    Among currencies, Brazil's real fell for a
fifth-straight day against a stronger dollar, while Mexico's
peso weakened 0.4 percent as oil prices edged lower on
Monday and a domestic crisis related to fuel distribution
gripped the nation.
    President Andrés Manuel López Obrador halted fuel
distribution in several parts Mexico several weeks ago in order
to prevent fuel-theft that has plagued the economy for decades.
    The crackdown on fuel thieves, however, took a tragic turn
on Friday as 89 people died in central Mexico after trying to
fill fuel from a leaking pipeline belonging to state-controlled
oil-firm PEMEX.
    The accident has increased scrutiny of the crackdown plan, 
seen as the president's first step to eradicate crime, a key
element of his mandate that got him elected.
    Chile's peso was dragged down by a drop in the price
of copper, the country's main export, while stocks on the
country's benchmark index fell 0.3 percent, easing
off from four-month highs. 
  
  Key Latin American stock indexes and currencies at  1415 GMT
   
 Stock indexes                                   daily % change
                              Latest           
 MSCI Emerging Markets                1016.93              -0.1
                                               
 MSCI LatAm                           2833.30             -1.24
                                               
 Brazil Bovespa                      95177.80             -0.96
                                               
 Mexico IPC                                 -                 -
                                               
 Chile IPSA                           5461.89             -0.31
                                               
 Argentina MerVal                           -                 -
                                               
 Colombia IGBC                              -                 -
                                               
                                                               
 Currencies                                      daily % change
                                       Latest  
 Brazil real                           3.7735             -0.49
                                               
 Mexico peso                          19.1765             -0.52
                                               
 Chile peso                             673.4             -0.53
                                               
 Colombia peso                              -                 -
 Peru sol                                   -                 -
                                               
 Argentina peso (interbank)                 -                 -
                                               
 
    

 (Reporting by Agamoni Ghosh in Bengaluru
Editing by Marguerita Choy)
  
Nuestros Estándares:Los principios Thomson Reuters
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