By Bruno Federowski
SAO PAULO, June 2 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 %
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 %
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)