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EMERGING MARKETS-Brazil stocks fall; Kroton, Estácio slump on regulatory scrutiny
February 6, 2017 / 2:46 PM / 10 months ago

EMERGING MARKETS-Brazil stocks fall; Kroton, Estácio slump on regulatory scrutiny

By Bruno Federowski
    SAO PAULO, Feb 6 (Reuters) - Brazilian stocks fell on
Monday, with shares of education companies Estácio Participações
SA and Kroton Educacional SA slumping on regulatory scrutiny
over a proposed tie-in.
    After the market close on Friday, technical staff in the
office of antitrust agency Cade's superintendent-general said
the deal would spur "monopolies in several markets," referring
to the on-site and distance-learning segments. 
    Common shares in Kroton and Estácio 
were the biggest decliners on Brazil's benchmark Bovespa stock
index.
     Losses in the index were limited, however, by a rebound in
shares of Braskem SA, after state-run oil company Petroleo
Brasileiro SA denied late on Friday that it was challenging a
corruption settlement in the U.S. court. 
    Preferred shares in Braskem rose 2.9 percent,
paring back a 3.8 percent drop in the previous trading day.
    The Brazilian real was nearly flat, in line with
other Latin American currencies. 
    The prospect of capital inflows related to recent corporate
debt issuances and expectations that U.S. interest rates will
rise only gradually have kept the real near the strongest since
October.
    Wider emerging market currencies had firmed earlier in the
day following solid Chinese services sector data and
disappointing U.S. wage growth figures.
    
    Key Latin American stock indexes and currencies at 1437 GMT:
 Stock indexes                                daily %    YTD %
                                     Latest    change   change
 MSCI Emerging Markets                923.85     0.54     6.56
 MSCI LatAm                          2546.46    -0.73     9.59
 Brazil Bovespa                     64550.83    -0.62     7.18
 Mexico IPC                         47225.10     0.28     3.47
 Chile IPSA                          4240.53     -0.5     2.15
 Chile IGPA                         21171.38    -0.45     2.11
 Argentina MerVal                   19260.37     0.31    13.85
 Colombia IGBC                      10205.69     0.04     0.77
 Venezuela IBC                      28228.99     0.81   -10.96
                                                              
 Currencies                                   daily %    YTD %
                                               change   change
                                      Latest           
 Brazil real                          3.1198     0.10     4.15
 Mexico peso                         20.4945    -0.58     1.22
                                                       
 Chile peso                            638.2     0.08     5.09
 Colombia peso                        2852.3    -0.12     5.23
 Peru sol                              3.268    -0.31     4.47
 Argentina peso (interbank)          15.6150     0.48     1.67
                                                       
 Argentina peso (parallel)             16.43     0.49     2.37
                                                       
 

 (Reporting by Bruno Federowski; Editing by Bernadette Baum)

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