November 17, 2017 / 4:51 PM / a year ago

EMERGING MARKETS-Mexican peso up on NAFTA talks, Trump investigation

    SAO PAULO, Nov 17 (Reuters) - The Mexican peso
firmed as much as 1 percent on Friday amid expectations that
ongoing NAFTA talks in Mexico City would adopt a slightly more
deliberative tone than in the past and focus on low-impact
    The peso, which was trading at its strongest level against
the dollar since mid-October, was also lifted by news that U.S.
special counsel investigators into possible Russian interference
in the 2016 U.S. election were seeking more documents from the
Trump campaign.
    Late on Thursday, Reuters reported that Canada is open to
reviewing the North American Free Trade Agreement every five
years instead of terminating the deal automatically if it is not
renegotiated as the United States has proposed.
    In a note to clients, Citibanamex said that the current
round of NAFTA talks would focus on less controversial topics
and Mexico was poised to present creative solutions, which would
ease nervousness in the markets.
    Equities were mixed across the region, with Chile's
blue-chip IPSA index up almost 1 percent, as the nation
heads into an election weekend in which market-darling Sebastian
Pinera is expected to deliver a strong performance.
    Santiago-listed shares in Latam Airlines Group SA,
Latin America's largest carrier, jumped more than 2 percent
after Deutsche Bank raised its target price on the stock.
    Chile's banking sector was also performing well, after Fitch
said the country's largest banks were ready for Basel III
liquidity rules.
    Brazil's Bovespa index also posted gains, helping by
solid demand for materials such as iron, as well as WTI and
Brent crude oil.
    Key Latin American stock indexes and currencies at 1616 GMT.
 Stock indexes                             daily %     YTD %
                               Latest       change    change
 MSCI Emerging Markets           1136,91      1,46     28,86
 MSCI LatAm                      2762,25       0,9      14,4
 Brazil Bovespa                 72913,02      2,73     21,06
 Mexico S&P/BVM IPC             47696,90     -0,11      4,50
 Chile IPSA                      5363,14      1,26     29,19
 Chile IGPA                     27005,43      0,81     30,25
 Argentina MerVal               27145,73      3,17     60,46
 Colombia IGBC                  10744,31      0,47      6,08
 Venezuela IBC                    673,73      1,98    -97,88
 Currencies                                daily %     YTD %
                                            change    change
 Brazil real                      3,2712      1,15     -0,67
 Mexico peso                     19,0785      0,88      8,73
 Chile peso                       627,11      0,83      6,95
 Colombia peso                   3004,19      0,68     -0,09
 Peru sol                          3,246      0,31      5,18
 Argentina peso (interbank)      17,4800      0,23     -9,18
 Argentina peso (parallel)         18,01      0,28     -6,61

 (Reporting by Gram Slattery; Editing by Meredith Mazzilli)
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