April 17, 2018 / 5:03 PM / in 7 days

EMERGING MARKETS-Brazil traders buy back in on geopolitical calm, Wall Street gains

    SAO PAULO, April 17 (Reuters) - Brazil's benchmark Bovespa
index led gains among Latin American equities markets on
Tuesday as traders took advantage of relative geopolitical calm
to buy back in after two straight trading days in the red.
    Stocks across Latin America were also supported by gains on
Wall Street, where positive earnings reports buoyed major
indices and distracted from fears of a trade war.
    "The market, after two strong falls, is improving in the
face of foreign markets with lessened risk aversion," said Vitor
Suzaki, an analyst at Sao Paulo-based Lerosa Investimentos.
    In the United States, shares were lifted by corporate
results and a return to riskier investments. Among the big
winners beating market estimates were Netflix Inc and
UnitedHealth Group Inc.
    Overall, the S&P 500 index had climbed 1.1 percent in
early afternoon trade.
    Brazil's Bovespa followed Wall Street's lead, climbing 1.2
percent in afternoon trade, while Mexico's IPC was up
0.59 percent and Chile's IPSA ticked up 0.26 percent.
    Among the biggest winners on the Bovespa were steelmaker
Usinas Siderurgicas de Minas Gerais SA (Usiminas) and
Cia Paranaense de Energia SA, both up around 3.6
percent.
    Usiminas said earlier on Tuesday that it would restart a
blast furnace shut since 2015.
    Outside of the Bovespa, shares in electrical utility
Eletropaulo Metropolitana Eletricidade de Sao Paulo SA
 soared 25.1 percent after Neoenergia SA
said it planned a $1.7 billion takeover bid.
    Shares in airline Azul SA, also not on the Bovespa,
jumped 5 percent at the opening bell after Reuters reported the
company was talking with Amazon.com Inc regarding goods
delivery in Brazil.
    
Key Latin American stock indexes and currencies at 1641 GMT:  
    
 Stock indexes                           daily %     YTD %
                             Latest       change    change
 MSCI Emerging Markets         1163.01     -0.02      0.41
                                                  
 MSCI LatAm                    3024.25      1.34      5.52
                                                  
 Brazil Bovespa               83753.13      1.08      9.62
                                                  
 Mexico IPC                   48696.08      0.54     -1.33
                                                  
 Chile IPSA                    5622.95      0.17      1.05
                                                  
 Chile IGPA                   28135.21      0.14      0.55
                                                  
 Argentina MerVal             31481.55      1.53      4.71
                                                  
 Colombia IGBC                12188.27       1.8      7.19
                                                  
                                                          
 Currencies                              daily %     YTD %
                                          change    change
                                Latest            
 Brazil real                    3.4021      0.27     -2.61
                                                  
 Mexico peso                   18.0000      0.08      9.44
                                                  
 Chile peso                     595.95     -0.03      3.14
                                                  
 Colombia peso                 2723.83      0.10      9.48
 Peru sol                         3.22      0.06      0.53
                                                  
 Argentina peso                20.1750      0.22     -7.81
 (interbank)                                      
                                                  
 Argentina peso                  20.54     -0.29     -6.38
 (parallel)                                       
                                                  
 


 (Reporting by Gram Slattery and Flavia Bohone, Editing by
Rosalba O'Brien)
  
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