June 2, 2017 / 4:06 PM / 3 months ago

EMERGING MARKETS-LatAm currencies, stocks up as U.S. data tempers rate-hike bets

    By Bruno Federowski
    SAO PAULO, June 2 (Reuters) - Latin American currencies and
stocks inched up on Friday after weaker-than-expected U.S. jobs
data raised doubts over the prospect of a fast pace of interest
rate hikes, boosting demand for high-yielding assets.
    U.S. job growth slowed in May, and employment gains in the
prior two months were not as strong as previously reported,
while wage growth remained sluggish.
    Even though the unemployment rate fell to a 16-year low, the
data suggested the labor market was losing momentum and tempered
expectations that the U.S. Federal Reserve would rapidly tighten
policy in the coming months.
    The Brazilian real and the Chilean peso
firmed around 0.2 percent, while the Mexican peso rose 0.1
percent. Increased appetite for risk also helped to lift
Brazil's benchmark Bovespa stock index by 0.6 percent.
    Shares of Cia Energética de Minas Gerais SA,
Brazil's No. 3 power utility, led the gains after it unveiled
plans to sell up to 6.5 billion reais in assets.
    A decline for state-controlled oil company Petróleo
Brasileiro SA limited gains on the index. Crude
futures dropped on worries that drilling could increase
in the United States because of President Donald Trump's
decision to abandon a climate pact.
    
    Key Latin American stock indexes and currencies at 1445 GMT:
 Stock indexes                                daily %   YTD %
                                               change  change
                                   Latest              
 MSCI Emerging Markets               1015.61     0.71   16.96
 MSCI LatAm                          2546.75     0.16    8.63
 Brazil Bovespa                     62653.50     0.59    4.03
 Mexico IPC                         49208.69     0.22    7.81
 Chile IPSA                          4895.44     0.14   17.92
 Chile IGPA                         24540.18     0.13   18.36
 Argentina MerVal                   22492.58    -0.11   32.95
 Colombia IGBC                      10661.94    -0.32    5.27
 Venezuela IBC                      77042.91      1.2  143.00
                                                             
 Currencies                                   daily %   YTD %
                                               change  change
                                      Latest           
 Brazil real                          3.2378     0.24    0.35
 Mexico peso                         18.6300     0.05   11.35
 Chile peso                            670.5     0.21    0.03
 Colombia peso                       2895.43    -0.12    3.66
 Peru sol                              3.272     0.03    4.34
 Argentina peso (interbank)          16.0350     0.19   -1.00
                                                       
 Argentina peso (parallel)             16.25     0.31    3.51
                                                       
 

 (Reporting by Bruno Federowski; Editing by Lisa Von Ahn)
  

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