December 19, 2016 / 3:46 PM / 7 months ago

EMERGING MARKETS-Latam markets seesaw in thin holiday season trading

4 Min Read

By Bruno Federowski
    SAO PAULO, Dec 19 (Reuters) - Latin American stocks and
currencies seesawed in thin volumes on Monday, with traders
avoiding big bets in the holiday season.
    The Brazilian real strengthened 0.3 percent after
three days of losses that took it to the weakest in 10 days.
    Brazil's currency suffered last week on concerns that
corruption accusations against senior members of President
Michel Temer's administration could delay the approval of
austerity measures.
    The country's benchmark Bovespa stock index fell 0.6
percent, pressured by a drop in shares of mining company Vale SA
. Vale agreed to sell part of its fertilizer unit to
Mosaic Co for $2.5 billion. 
    Shares of Cia Energética de Minas Gerais SA were the biggest
gainers in the index. Preferred shares advanced 5.8
percent, the most in five months, after Reuters reported that
the utility planned to replace its chief executive officer and
chief financial officer as early as Wednesday. 
    Other Latin American markets were mostly flat as traders
sought further hints over potential U.S. rate hikes in coming
months.
    The Chilean peso weakened 0.6 percent after the
country's central bank flagged the possibility of future
interest rate cuts and reduced its forecast for 2017 economic
growth and inflation in its quarterly Monetary Policy Report.
    
    Key Latin American stock indexes and currencies at 1525 GMT:
 Stock indexes                               daily %    YTD %
                                              change   change
                                   Latest             
 MSCI Emerging Markets               852.13     -0.5     7.84
 MSCI LatAm                         2244.36     0.08    22.55
 Brazil Bovespa                    58045.90    -0.59    33.90
 Mexico IPC                        45151.94     0.07     5.06
 Chile IPSA                         4203.90     -0.2    14.23
 Chile IGPA                        21019.64    -0.17    15.80
 Argentina MerVal                  16435.26    -0.77    40.77
 Colombia IGBC                     10004.66    -0.36    17.05
 Venezuela IBC                     28896.19    -3.93    98.08
                                                             
 Currencies                                  daily %    YTD %
                                              change   change
                                                      
                                     Latest           
 Brazil real                         3.3775     0.34    16.86
 Mexico peso                        20.4165     0.07   -15.61
 Chile peso                           677.2    -0.56     4.80
 Colombia peso                       3017.5    -0.35     5.03
 Peru sol                             3.405    -0.09     0.26
 Argentina peso (interbank)         15.8500     0.32   -18.09
                                                      
 Argentina peso (parallel)            16.72    -0.18   -14.65
                                                      
 

 (Reporting by Bruno Federowski; Editing by Will Dunham)

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