February 16, 2018 / 11:07 PM / 3 months ago

EMERGING MARKETS-LatAm stocks edge up amid solid earnings season

    By Daina Beth Solomon
    MEXICO CITY, Feb 16 (Reuters) - Key Latin American stocks
edged up on Friday, helped by optimism on corporate earnings,
but investors remained concerned that higher U.S. interest rates
could hit demand for emerging markets. 
    Mexico's S&P/BMV IPC index rose 0.12 percent, capping
several days of modest gains, while Brazil's Bovespa
rose 0.28 percent. 
    In Mexico, bottler and retailer Femsa buoyed
the index with shares up more than 2 percent. 
    The week was marked by telecommunications firm America Movil
 and retail giant Wal-Mart de Mexico
reporting results in line with analyst expectations.
    Four-fifths of major Mexican companies that have reported
fourth-quarter earnings showed revenue growth, according to
Banco Base. Another 14 companies will report results next week. 
    Riskier assets such as emerging market stocks and currencies
were hammered earlier this month by concerns the Federal Reserve
may hike interest rates at a faster pace than expected this
year.     
    The Mexican peso traded flat on Friday even as the dollar
edged higher, helped by cautious optimism for the renegotiation
of the North American Free Trade Agreement. The next round of
trade talks will begin later this month.
    Currencies in Brazil, Peru and Argentina weakened between
0.12 percent and 0.46 percent.     
    
Key Latin American stock indexes and currencies at 2100 GMT: 
 Stock indexes             Latest          Daily   YTD pct
                                             pct    change
                                          change  
 MSCI Emerging Markets        1,201.81     -0.07      3.81
                                                  
 MSCI LatAm                   3,107.92     -0.07      9.97
                                                  
 Brazil Bovespa              84,524.58      0.28     10.63
 Mexico IPC                  48,865.14      0.12     -0.99
 Chile IPSA                   5,621.67     -0.15      1.03
 Chile IGPA                  28,293.23     -0.09      1.12
 Argentina MerVal            32,677.25      2.04      8.69
 Colombia IGBC               11,726.42      0.33      3.13
 Venezuela IBC                4,505.48      1.37    256.69
                                                          
 Currencies                     Latest     Daily   YTD pct
                                             pct    change
                                          change  
 Brazil real                    3.2304     -0.31      2.57
 Mexico peso                   18.5085      0.00      6.43
 Chile peso                      593.2      0.00      3.62
 Colombia peso                   2,834      0.71      5.22
 Peru sol                         3.25     -0.12     -0.40
 Argentina peso                19.7600     -0.46     -5.87
 (interbank)                                      
 Argentina peso                  19.86      0.00     -3.17
 (parallel)                                       
    

 (Editing by Chris Reese)
  
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