* LATAM stocks up 0.4%, FX flat * Peruvian sol, Colombian peso fall after Wednesday’s GDP data * Falling oil prices weigh on commodity currencies (Updated at 3pm ET/2000 GMT) By Siddhartha S Nov 16 ( Reuters ) – Latin American shares rose for a fifth straight session on Thursday, boosting heavily weighted Brazilian shares, while the currencies of Peru and Colombia rose more than 1% each on concerns about growth due to weak economic data in both countries. There was a decline of more. MSCI’s regional Latin American equity basket rose 0.4%, with the index trading at its highest level since early August. Although most regional markets were in the red, Brazil’s Bovespa stock index rose 1.2%, while the real gained 0.1% against the dollar. Among currencies, the Peruvian sol and the Colombian peso both fell more than 1% on Wednesday after data from the respective countries showed their economies were shrinking more than forecast. Overall, Latin American assets continued to rise last week as a decline in US inflation fueled speculation that the US Federal Reserve will raise interest rates, with the dollar and US Treasury yields both retreating from recent highs. Have been. “If expectations or concerns about further Fed (rate) hikes cool down, as you see some stability in the Treasury market, that would be positive for sentiment in Latin America,” said emerging markets senior David Rees. And we’ve certainly seen that recently.” Economist at Schroders. Stocks in Mexico, Colombia and Chile slipped between 0.3% and 0.8%, with resources sector stocks falling 5% as oil prices fell. MSCI’s basket of Latin American currencies was mostly flat against the US dollar on the day. Mexico’s peso, however, rose 0.2% to a nearly two-month high of 17.26 per dollar. “Government bond flows are still struggling in LatAm, which suggests some of the strong buying in MXN may be related to hedging,” said Geoff Yu, senior EMEA market strategist at BNY Mellon. Shares of Americano rose 7.5% after the Brazilian retailer disclosed revised financial results for 2021 and figures for 2022 after a billion-dollar accounting scandal unraveled this year, causing it to file for bankruptcy. Adding pressure to the peso, Colombia’s President Gustavo Petro said the country should not maintain its so-called fiscal rule to boost public investment and economic recovery, although he acknowledged that any such decision would have to be made by Congress. should go. Argentina’s Marvel stock index fell 4% as investors prepared for Sunday’s presidential elections. Global investors expect a huge amount of fiscal trouble from Argentina regardless of who voters choose as their next president on Sunday, as much-needed fiscal adjustment would push inflation even higher. Major Latin American Stock Indices and Currencies at 2000 GMT: Latest Daily % Change MSCI Emerging Markets 983.06 -0.05 MSCI LatAm 2457.07 0.38 Brazil Bovespa 124601.07 1.17 Mexico IPC 52541.58 -0.48 Chile IPSA 5729.71 -0.79 Argentina Merval 60227 8.19 -4.303 Colombia COLCAP 1106.84 -0.29 Currencies Latest Daily % Change Brazilian Real 4.8686 0.01 Mexican Peso 17.2604 0.20 Chilean Peso 882.9 0.45 Colombian Peso 4085.5 -1.19 Peruvian Sol 3.8127 -1.04 Argentine Peso 353.4500 -0.13 (interbank) Argentine Peso 920 5. 43 (Parallel) (Reporting by Siddharth S and Lisa Mattakkal Bengaluru; Editing by Richard Chang)
Source: finance.yahoo.com
