November 14, 2018 / 1:41 PM / a month ago

EMERGING MARKETS-Mexican peso gains; Brazil stocks decline

    Nov 14 (Reuters) - The Mexican and Chilean pesos rose
against a steady dollar on Wednesday, while Brazil's real firmed
slightly, recovering from earlier losses.
    The real was 0.1 percent firmer, after having
declined earlier in the session.
    Disappointment that pension reforms in Brazil may not be
passed this year has kept the real under pressure since
the beginning of the week, when President-elect Jair Bolsonaro
broke the news. 
    Many economists say cuts to Brazil's social security system
are essential to controlling a huge federal deficit and
regaining Brazil's investment-grade rating.  
    Investors snapped up Brazilian assets in the wake of
Bolsonaro's election victory last month, which raised hopes he
could make quick advances on fiscal reforms.
    The Mexican peso rose 0.3 percent, while the Chilean
peso firmed 0.4 percent, on track to break a four-day
losing streak.
    Brazilian stocks fell 0.7 percent, led by declines
in material and energy shares. 
    The declines were, however, limited by a 5.1 percent gain in
food company JBS SA and a 3.2 percent rise in mall
operator BR Malls Participacoes, after both posted  
strong quarterly results overnight.
    
    Key Latin American stock indexes and currencies at 1323 GMT:
 Stock indexes                            daily %       YTD %
                                           change      change
                               Latest              
 MSCI Emerging Markets            964.55    -0.15      -16.61
                                                   
 MSCI LatAm                      2547.43    -0.27       -9.68
                                                   
 Brazil Bovespa                 84357.29    -0.66       10.41
 Mexico IPC                            -        -           -
 Chile IPSA                      5131.07     0.02        0.02
                                                   
 Argentina MerVal                      -        -           -
                                                   
 Colombia IGBC                         -        -           -
                                                   
                                                             
 Currencies                               daily %       YTD %
                                           change      change
                                  Latest           
 Brazil real                      3.8004     0.76      -12.82
                                                   
 Mexico peso                     20.4509     0.17       -3.68
                                                   
 Chile peso                        688.6     0.49      -10.74
                                                   
 Colombia peso                         -        -           -
 Peru sol                              -        -           -
                                                   
 Argentina peso (interbank)            -        -           -
                                                   
 
 (Reporting by Susan Mathew in Bengaluru;)
  
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