EMERGING MARKETS-Latam stocks fall on ECB's Draghi comments
* Mario Draghi comments renew fears in euro zone * Brazil Bovespa falls 0.98 pct, Mexico IPC down 1.21 pct By Danielle Assalve and Jean Arce SAO PAULO/MEXICO CITY Feb 7 (Reuters) - Latin American stocks fell on Thursday, tracking losses on Wall Street, after European Central Bank President Mario Draghi said there were more negative economic risks than positive ones facing the troubled euro zone. The specter of Europe's economic concerns returned, jolting global markets after Draghi said the exchange rate was important to growth and price stability, which investors took as a sign the bank is concerned about the euro's advance in recent days. Latin American stocks followed U.S. markets lower, with the S&P 500 down 0.18 percent, and the Dow Jones off 0.30 percent. Mexico's IPC index, which has added 11 percent since mid-November, saw its biggest one-day drop in 13 weeks to end a recent rally, while Brazil's Bovespa lost 0.98 percent. Chile's bourse dipped 0.13 percent. "The (IPC) rally we've seen since December seems to me to be over," said Jorge Lagunas, a trader at Interacciones brokerage in Mexico City. "We're seeing more of the same from the ECB - zero positive news." Shares in debt-ridden Mexican cement giant Cemex fell 4.13 percent after the company posted weaker-than-expected results, blaming weak sales in Europe. Nonetheless, shares in the Carlos Slim controlled phone giant America Movil barely budged after Mexico's competition watchdog decided to fine Telmex, which is part of America Movil, $52 million for monopolistic practices. In Brazil, inflation accelerated to the fastest rate in nearly eight years in January, raising bets of an interest rate hike this year that could complicate the government's drive to reignite a near-stagnant economy. Preferred shares in iron ore giant Vale fell 2.7 percent, while state-oil company Petrobras shares were down 0.57 percent. Petrobras shares had fallen 2.65 percent in the previous session. But Brazilian billionaire Eike Batista's oil sector competitor OGX rose 1.89 percent, driving gains in the index. Latin America's key stock indexes at 2156 GMT: Stock indexes daily % YTD % change change Latest MSCI LatAm 3,896.58 -0.38 2.6 Brazil Bovespa 58,372.46 -0.98 -4.23 Mexico IPC 45,019.21 -1.21 3.01 Chile IPSA 4,590.64 -0.13 6.72 Chile IGPA 22,324.11 -0.12 5.95 Argentina MerVal 3,302.97 0.39 15.72 Colombia IGBC 15,042.55 -0.85 2.22 Peru IGRA 21,707.35 -0.21 5.23 Venezuela IBC 565,727.0 0.06 20.00 0
- North Korea says Kim's powerful uncle dismissed for 'criminal acts'
- Thai PM calls snap election, protesters press on |
- Protesters fell Lenin statue, tell Ukraine's president 'you're next'
- Singapore hit by rare outbreak of rioting, 27 arrested |
- Venezuela's Maduro to raise pressure on business after local vote