January 9, 2018 / 10:07 PM / 8 months ago

EMERGING MARKETS-Brazil stocks and currency fall amid Latam slump

 (Recasts with stock movements, updates prices)
    By Bruno Federowski
    SAO PAULO, Jan 9 (Reuters) - Stocks across Latin America
fell on Tuesday, with Brazil's benchmark index slipping back
from an all-time record high and Mexico's index pressured by
falling shares in retailer Wal-Mart de Mexico. 
    Brazil's benchmark Bovespa index fell 0.65 percent
after 11 consecutive days of gains, pressured by blue-chips such
as lender Itaú Unibanco Holding SA and miner Vale SA
.
    Mexico's benchmark index S&P/BMV IPC dropped 0.58
percent, hit by Wal-Mart de Mexico.
    Although Walmex shares reached a record high on Monday after
releasing December sales data, they slipped 3.41 percent on
Tuesday. Analysts said they expect little upside potential due
to the already high valuations, with some saying that December
sales failed to meet expectations.
    Latin American currencies also weakened as the U.S. dollar
rebounded from an early 2018 sell-off that drove it to the
lowest in more than three months.
    Currencies from Brazil, Mexico, Chile
 and Colombia slipped between 0.06 percent and
0.43 percent on Tuesday.
    Emerging market currencies had rallied early in the year as
solid economic growth figures drove investors away from the
greenback and toward riskier assets.
    That move faded in recent days as expectations grew stronger
that the U.S. Federal Reserve will increase rates three times in
2018, potentially draining funds away from high-yielding assets.
    
    Key Latin American stock indexes and currencies at 2047 GMT:
 Stock indexes               Latest          Daily   YTD pct
                                               pct    change
                                            change  
 MSCI Emerging Markets          1,203.79     -0.25      4.18
                                                    
 MSCI LatAm                     2,952.44     -0.98      5.43
 Brazil Bovespa                78,863.54     -0.65      3.22
 Mexico IPC                    49,703.15     -0.58      0.71
 Chile IPSA                     5,709.80      0.07      2.61
 Chile IGPA                    28,718.87      0.08      2.64
 Argentina MerVal              32,149.49     -0.62      6.93
 Colombia IGBC                 11,852.26     -0.01      4.24
 Venezuela IBC                  1,301.67      2.45      3.05
                                                            
 Currencies                       Latest     Daily   YTD pct
                                               pct    change
                                            change  
 Brazil real                      3.2482     -0.08      2.00
 Mexico peso                     19.2600     -0.19      2.28
 Chile peso                          608     -0.43      1.09
 Colombia peso                   2,907.9     -0.06      2.55
 Peru sol                          3.218     -0.09      0.59
 Argentina peso (interbank)      18.9100      0.63     -1.64
                                                    
 Argentina peso (parallel)         19.49      0.46     -1.33
                                                    
 
 (Reporting by Bruno Federowski and Daina Beth Solomon; Editing
by Susan Thomas)
  
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