July 25, 2018 / 7:48 PM / 3 months ago

EMERGING MARKETS-Latam currencies stronger ahead of Trump-Juncker news

    SAO PAULO, July 25 (Reuters) - All major Latin American
currencies rose against the dollar for a second straight day on
Wednesday ahead of a meeting between U.S. President Donald Trump
and EU Commission President Jean-Claude Juncker that pressured
the greenback.
    Trump struck a conciliatory tone in comments ahead of a
one-on-one meeting with Juncker in Washington. But earlier, the
U.S. leader said in a tweet that the European Union should drop
all tariffs, barriers and subsidies, while adding that it will
not do so.
    Trump also said on Wednesday that China was targeting U.S.
farmers in a "vicious" way.
    That helped send the dollar down against various
developed and emerging market currencies, not excepting those of
Latin America.
    The Mexican, Argentine, and Chilean
pesos were up 0.87 percent, 0.47 percent, and 1
percent, respectively, in afternoon trade. 
    Brazil's real currency climbed 0.93 percent, boosted
by corporate earnings and domestic politics.
    Most major Latin American stock indices also rose slightly, 
helped by global optimism over better-than-expected corporate
earnings.
    Brazil's benchmark Bovespa index climbed more than 1
percent.
    Shares of GPA, one of Brazil's largest retailers,
jumped 6 percent after the company posted solid second-quarter
results and affirmed its commitment to selling its electronics
unit, Via Varejo SA.
    Banco Santander Brasil SA climbed more than 5
percent after the company beat quarterly profit estimates.

    
Key Latin American stock indexes and currencies at 1913 GMT:    
 Stock indexes                    Latest      Daily   YTD pct
                                                pct    change
                                             change  
 MSCI Emerging Markets             1,090.40    0.93     -6.74
 MSCI LatAm                        2,729.52    1.29     -4.71
 Brazil Bovespa                   79,994.79    1.06      4.70
 Mexico IPC                       49,518.41    0.11      0.33
 Chile IPSA                        5,460.74    0.19     -1.87
 Chile IGPA                       27,454.90    0.05     -1.88
 Argentina MerVal                 28,947.82    2.39     -3.72
 Colombia IGBC                    12,169.03   -0.49      7.02
 Venezuela IBC                    94,979.73    -2.7  7,419.34
                                                             
 Currencies                          Latest   Daily   YTD pct
                                                pct    change
                                             change  
 Brazil real                         3.7081    0.93    -10.65
 Mexico peso                        18.7160    0.87      5.25
 Chile peso                           647.6    1.00     -5.09
 Colombia peso                      2,883.8    0.35      3.41
 Peru sol                             3.273    0.09     -1.10
 Argentina peso (interbank)         27.3700    0.47    -32.04
                                                     
 Argentina peso (parallel)            28.55    0.18    -32.64
                                                     
 
    

 (Reporting by Gram Slattery; Additional reporting by Claudia
Volante; Editing by Steve Orlofsky and Dan Grebler)
  
0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below