August 2, 2018 / 5:52 PM / 3 months ago

EMERGING MARKETS-Brazil stocks track US share, crude prices higher

    By Bruno Federowski
    BRASILIA, Aug 2 (Reuters) - Brazilian stocks advanced on
Thursday on the heels of rising prices of crude and U.S.
equities, while shares of Ultrapar Participações SA soared after
the fuel distributor announced a dividend payout.
    The benchmark Bovespa stock index was up 0.5
percent, outperforming other regional equity indexes, which were
 either flat or lower.
    The move upward tracked gains in U.S. stocks after Apple
became the first $1 trillion publicly listed U.S. company, 
leading a rebound in technology stocks and pushing the benchmark
S&P 500 and the Nasdaq higher.
    Crude prices rose after release of an industry report
suggesting U.S. crude stockpiles would soon begin to decline
again, helping to lift shares of state-controlled oil company
Petróleo Brasileiro SA.
    Ultrapar was by far the biggest riser on the
benchmark index, posting its biggest daily gain in seven years.
The company announced it will pay 304.24 million reais  ($81
million) in dividends, outshining mostly lackluster
second-quarter earnings.
    The Brazilian real was flat, in line with other
little-changed currencies in the region.
    Concerns over escalating trade tensions between the United
States and China have hurt demand for risky assets, weighing on
appetite for emerging-market currencies.
    But market sentiment improved after U.S. Commerce Secretary
Wilbur Ross said that tariffs the United States is threatening
to impose on Chinese goods would not be disastrous because they
represent less than 1 percent of the country's economy.

    
    Key Latin American stock indexes and currencies at 1730 GMT:
 Stock indexes                           daily %    YTD %
                                          change   change
                               Latest             
 MSCI Emerging Markets          1066.92    -1.84    -6.18
                                                  
 MSCI LatAm                     2694.88    -0.41    -4.32
                                                  
 Brazil Bovespa                79711.63     0.52     4.33
 Mexico IPC                    49027.56    -0.85    -0.66
 Chile IPSA                     5393.66    -0.09    -3.07
                                                  
 Chile IGPA                    27175.93    -0.04    -2.88
 Argentina MerVal              29151.92     -0.8    -3.04
                                                  
 Colombia IGBC                 12168.69    -0.45     7.02
                                                  
                                                         
 Currencies                              daily %    YTD %
                                          change   change
                                                  
                                 Latest           
 Brazil real                     3.7574     0.00   -11.82
                                                  
 Mexico peso                    18.6125    -0.12     5.84
                                                  
 Chile peso                      643.65    -0.17    -4.51
                                                  
 Colombia peso                   2903.5    -0.31     2.70
 Peru sol                         3.273    -0.03    -1.10
                                                  
 Argentina peso (interbank)     27.5100     0.05   -32.39
                                                  
 Argentina peso (parallel)        28.15     0.18   -31.69
                                                  
 
 (Reporting by Bruno Federowski)
  
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