SAO PAULO, Jan 12 (Reuters) - Mexico's peso strengthened on
Thursday, rebounding from a fresh historic low hit in the
previous session after President-elect Donald Trump warned U.S.
auto companies would face a high tax for products made south of
the border.
The peso closed at 21.8 per dollar, up 0.27 percent
on Wednesday's reference price. Mexico's stock exchange also
gained 0.28 percent, helped by a rise in shares in miner Grupo
Mexico and cement company Cemex.
The U.S. dollar hit its lowest level in five weeks against a
basket of currencies, pulling back from a high on Wednesday
after investors were disappointed that Trump did not offer more
details on fiscal spending and tax measures that could lift U.S.
growth.
Brazilian stocks also rose as traders wagered that lower
interest rates could boost economic activity and lift corporate
earnings.
Higher prices of oil and iron ore also boosted shares of
blue-chip oil company Petróleo Brasileiro SA and
miner Vale SA, fanning a rally of the benchmark
Bovespa stock index.
The Brazilian real strengthened 0.5 percent, tracking
a global pickup in appetite for emerging market assets.
Key Latin American stock indexes at 2148 GMT:
Stock indexes Latest Daily YTD pct
pct change
change
MSCI Emerging Markets 896.64 1.12 3.99
MSCI LatAm 2,442.93 2.89 4.37
Brazil Bovespa 63,953.93 2.41 6.19
Mexico IPC 46,060.98 0.28 0.92
Chile IPSA 4,234.95 0.59 2.01
Chile IGPA 21,103.91 0.52 1.78
Argentina MerVal 18,591.28 0.66 9.89
Colombia IGBC 10,243.14 -0.42 1.14
Venezuela IBC 31,143.02 -4.87 -1.77
(Reporting by Bruno Federowski, Gabriela Mello and Paulina
Osorio Perez, editing by G Crosse)Our Standards: The Thomson Reuters Trust Principles.