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EMERGING MARKETS-LatAm currencies firm as risk appetite revives
November 16, 2017 / 4:12 PM / a month ago

EMERGING MARKETS-LatAm currencies firm as risk appetite revives

    By Bruno Federowski
    SAO PAULO, Nov 16 (Reuters) - Latin American currencies
strengthened on Thursday as investors cautiously returned to
emerging markets following a selloff in the previous session.
    Stronger-than-expected U.S. retail and inflation figures on
Wednesday fostered expectations that the Federal Reserve could
increase U.S. interest rates faster than expected, driving
traders away from higher-yielding assets. But that move faded on
Thursday as bargain-hunting sparked a global rebound.
    European stocks rose after posting their longest losing
streak of the year, while the dollar rebounded from a three-week
low against a basket of developed market currencies.
    Latin American markets followed along, with currencies from
Brazil, Chile and Colombia rising between
0.3 percent and 1 percent.
    The Mexican peso also firmed after concerns that
the latest round of talks to overhaul the North American Free
Trade Agreement (NAFTA) would fail to make much headway drove it
to an eight-month low.
    Brazil's benchmark Bovespa stock index jumped 2.4
percent, also supported by a strong batch of corporate earnings
figures.
    Shares of cosmetics maker Natura Cosméticos SA
posted their biggest daily gain since 2008 after the company
posted strong third-quarter operating profits.
    
    Key Latin American stock indexes and currencies at 1720 GMT:
 Stock Indexes                   Latest         Daily  YTD Pct
                                                  Pct   Change
                                               Change  
 MSCI Emerging Markets              1,126.68      1.4    28.86
                                                       
 MSCI LatAm                         2,742.06      2.4     14.4
 Brazil Bovespa                    72,521.39     2.39    20.41
 Mexico S&P/BVM IPC                47,883.94      0.4     4.91
 Chile IPSA                         5,333.83     1.14    28.48
 Chile IGPA                        26,862.69     1.03    29.56
 Argentina MerVal                  26,953.98     2.44    59.32
 Colombia IGBC                     10,736.11      0.4     6.00
 Venezuela IBC                        666.03     0.81   -97.90
                                                              
 Currencies                           Latest    Daily  YTD Pct
                                                  Pct   Change
                                               Change  
 Brazil real                          3.2763     0.99    -0.83
 Mexico peso                         19.1500     0.51     8.32
 Chile peso                           630.06     0.36     6.45
 Colombia peso                      3,017.31     0.25    -0.52
 Peru sol                              3.252     0.12     4.98
 Argentina peso (interbank)          17.4850     0.20    -9.21
                                                       
 Argentina peso (parallel)                18     0.33    -6.56
                                                       
 
 (Reporting by Bruno Federowski, editing by G Crosse)
  

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