September 14, 2018 / 4:06 PM / 7 months ago

EMERGING MARKETS-Brazil markets bounce on XP poll, wider EM gains

    SAO PAULO, Sept 14 (Reuters) - Brazilian markets ticked
higher on Friday, bolstered by a new presidential election poll
and by a broader emerging markets rally, sending the benchmark
Bovespa index up more than half a percentage point as the real
currency gained about 0.4 percent. 
    "(The picture for) emerging markets was that of relief and,
since the dollar went up by a lot yesterday, it opened trying to
take profits," said Fernanda Consorte, a foreign exchange
strategist with Ourinvest bank. 
    The market movement followed a private poll by XP
Investimentos that still put far-right candidate Jair Bolsonaro 
comfortably ahead in the first round, but had a four-way tie for
runner-up, including market-favorite Geraldo Alckmin. Bolsonaro
and his runner-up are expected to compete in a second round of
voting following the vote on Oct. 7. 
    Still, there was caution on Friday in the lead-up to the
release of yet another electoral poll, this time by Datafolha,
considered the gold standard in electoral polling in Brazil,
that will be released only after the markets close. 
    While the Brazilian real was up on Friday, making up some of
Thursday's losses when the currency closed at an all-time low,
the rest of the region's currencies were down against the
dollar, particularly the Chilean peso, which was down almost 1
    Key Latin American stock indexes and currencies at 1528 GMT:

 Stock indexes                             daily %     YTD %
                               Latest       change    change
 MSCI Emerging Markets           1017.64       1.3    -12.16
 MSCI LatAm                      2427.84      0.04    -14.15
 Brazil Bovespa                 75136.76       0.6     -1.66
 Mexico IPC                     49607.47     -0.17      0.51
 Argentina MerVal               30333.04      1.03      0.89
 Colombia IGBC                  12292.15      0.26      8.10
 Venezuela IBC                 367989.81      3.75  29032.94
 Currencies                                daily %     YTD %
                                            change    change
 Brazil real                      4.1751      0.48    -20.64
 Mexico peso                     18.8547     -0.14      4.48
 Chile peso                       686.05     -0.68    -10.41
 Colombia peso                   3021.55     -0.18     -1.31
 Peru sol                          3.316     -0.06     -2.38
 Argentina peso (interbank)      39.8100      0.23    -53.28
 Argentina peso (parallel)         38.75      0.00    -50.37
 Reporting by Marcelo Rochabrun and Camila Moreira
Editing by Phil Berlowitz
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