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EMERGING MARKETS-Latam gains on Ukraine deal; education stocks rally in Brazil
February 12, 2015 / 6:32 PM / in 3 years

EMERGING MARKETS-Latam gains on Ukraine deal; education stocks rally in Brazil

RIO DE JANEIRO, Feb 12 (Reuters) - Latin American financial
markets rallied on Thursday after Russian separatists and
Ukrainian forces agreed to a cease fire, boosting investor
appetite for risk globally.
    Brazil's benchmark Bovespa stock index rose nearly 3
percent, leading regional gains, as education stocks gained on
expectations of changes in a key student financing program
maintained by the government. 
    Shares of Brazilian education companies Kroton 
and Estacio jumped 13.5 percent and 12.0 percent,
respectively.
    An expected definition of rules for the student financing
program known as FIES would "remove part of the uncertainty that
is weighing on the market," analysts with BTG Pactual said
client note.
    Shares of Brazil's state-run oil company Petrobras
 climbed 4.5 percent after its new chief executive
said the company, hit by a multi-billion corruption scandal,
plans to cut investments, sell assets and offer shares in some
of its units to raise cash. 
    The Brazilian real also posted gains after dropping
to its lowest in more than 10 years this week, but many analysts
warned the recovery could be short lived. 
    "Nobody is able to tell whether this is just a respite
before additional weakness or an accommodation around these
levels," said Bruno Goncalves, an analyst with WinTrade
brokerage in Brazil.
    Other Latin American currencies also rose more than 1
percent, including those of Mexico, Chile, and
Colombia.
    Losses in the Mexican peso have left policymakers worried
about inflation, minutes showed on Thursday. 
 
    Key Latin American currencies and stock indexes at 1820 GMT
    
 Stock indexes                   daily %    YTD %
                                  change   change
                      Latest              
 MSCI Emerging           974.24     1.36     0.51
 Markets                                  
 MSCI LatAm             2602.72     3.53    -7.83
                                          
 Brazil Bovespa        49638.84      2.9    -0.74
                                          
 Mexico IPC            42720.15     1.88    -0.99
                                          
 Chile IPSA             3951.81      0.8     2.62
                                          
 Chile IGPA            19224.33     0.69     1.88
                                          
 Argentina MerVal       9292.93     1.91     8.32
                                          
 Colombia IGBC          10477.3    -0.74    -9.95
                                          
 Peru IGRA             13670.46     1.23    -7.60
                                          
 Venezuela IBC          3538.01    -0.44    -8.31
                                          
                                                 
 Currencies                      daily %    YTD %
                                  change   change
                         Latest           
 Brazil real             2.8196     1.88    -5.75
                                          
 Mexico peso            14.9132     1.03    -1.13
                                          
 Chile peso               622.5     1.16    -2.59
                                          
 Colombia peso          2389.22     1.45    -0.05
                                          
 Peru sol                 3.071     0.33    -3.00
                                          
 Argentina peso          8.6800    -0.03    -1.50
 (interbank)                              
                                          
 Argentina peso           13.07     0.61     7.12
 (parallel)                               
                                          
 
    

 (Reporting by Paula Laier and Bruno Federowski; Writing by
Walter Brandimarte; Editing by Grant McCool)

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