(Adds closing market prices) By Bruno Federowski SAO PAULO, May 15 (Reuters) - Latin American currencies and stocks closed higher on Monday as talks of extended production cuts lifted crude oil futures, triggering a rally across commodity markets. Oil jumped more than 2 percent to the highest in more than three weeks after officials from Saudi Arabia and Russia said supply cuts need to last into 2018. Oil exporter Colombia's peso gained the most, with the currencies of fellow crude producers Mexico and Brazil also appreciating. Chile's peso and Peru's sol strengthened as copper prices and other raw materials increased. Demand for high-yielding emerging market currencies has picked up following mixed U.S. economic data on Friday, which cooled expectations of a rapid pace of Federal Reserve interest rate increases in the coming months. "The setback clouds the near-term outlook," analysts at Brown Brothers Harriman wrote in a note to clients. MSCI's 23-country emerging market stock index posted its sixth straight session of gains for the first time since August. Brazil's benchmark Bovespa stock index rose 0.37 percent amid expectations that Congress will pass pension reform. Key Latin American stock indexes and currencies at market close: Stock indexes Latest Daily YTD pct pct change change MSCI Emerging Markets 1,010.23 0.78 17.16 MSCI LatAm 2,751.40 1.24 17.55 Brazil Bovespa 68,474.19 0.37 13.69 Mexico IPC 49,678.96 0.51 8.84 Chile IPSA 4,890.96 0.8 17.81 Chile IGPA 24,511.09 0.74 18.22 Argentina MerVal 21,656.60 0.71 28.01 Colombia IGBC 10,870.24 1.05 7.33 Venezuela IBC 62,097.24 2.37 95.86 Currencies Latest Daily YTD pct pct change change Brazil real 3.1060 0.58 4.41 Mexico peso 18.706 0.57 9.82 Chile peso 667.97 0.48 0.41 Colombia peso 2,879 1.41 4.09 Peru sol 3.263 0.21 2.77 Argentina peso (interbank) 15.53 -0.58 2.17 Argentina peso (parallel) 15.97 -0.25 5.05 (Reporting by Bruno Federowski; editing by Diane Craft)
Our Standards: The Thomson Reuters Trust Principles.