Edition:
International

Ambar Warrick

EMERGING MARKETS-Latam joins emerging market rout on fears of new virus variant

Nov 26 2021

* Brazil's real fares better than regional peers * South African rand among worst hit currencies * Latam stocks slump to one-year low (Writes through with Latin American assets) By Susan Mathew and Ambar Warrick Nov 26 Latin American stocks and currencies joined a broader selldown in emerging markets on Friday as the possibility of a more dangerous coronavirus variant saw investors fleeing risky assets on fears of new global restrictions. MSCI's index of Latin American (Latam) currencies sank 0.8%, touching a seven-month low, while stocks plummeted 3.5% to a one-year low. Mexican and Chilean currencies led losses across Latam, dropping more than 1% each, while Argentine stocks lagged their regional peers with a more than 5% slump. Brazil's real fared considerably better than its regional peers, only falling around 0.2% as the health regulator called for some travel restrictions, although President Jair Bolsonaro appeared to dismiss such measures. Brazil's central bank head also said he expected inflation to peak soon and recede next year, taking some pressure off the economy. Broader emerging market assets slumped after a coronavirus variant that scientists say could be vaccine-resistant and more transmissible was detected in Botswana, Hong Kong and South Africa. Several countries in Europe and Asia tightened travel restrictions. South Africa's rand sank 2% and hit more than one-year lows. The rand ended its third straight week in the red. "This is devastating for (South Africa's) tourism sector which was hoping for a bumper December as borders had opened up... Terms of trade are certainly going to be less favourable as a result of lost tourism dollars," said Lloyd Miller, research analyst at ETM Analytics in South Africa. Turkey's lira lost almost 4% during the session, before paring some losses. It is seen ending the week down about 9%. The central bank said it was committed to interest rate cuts, even after the latest sent the currency crashing to all-time lows. In what could further strain ties between Ankara and its Western allies, a Turkish court ruled on Friday that philanthropist Osman Kavala must stay in prison, extending his four-year detention without conviction. Western countries have called for his immediate release. Ukraine's sovereign dollar bonds tumbled to their lowest in more than a year and the cost of insuring exposure to the country's debt rose amid rising concerns over tension with Russia. Russia's rouble hit seven-month lows with tumbling oil prices also weighing. The share of foreign investors among holders of Russia's OFZ treasury bonds declined to 21.2% in October, its lowest since Aug. 1, central bank data showed on Friday. Key Latin American stock indexes and currencies: Latest Daily % change MSCI Emerging Markets 1222.18 -2.59 MSCI LatAm 2043.04 -3.38 Brazil Bovespa 102266.74 -3.35 Mexico IPC 49382.45 -2.45 Chile IPSA 4594.07 -0.17 Argentina MerVal 80747.17 -4.955 Colombia COLCAP 1321.62 -1.29 Currencies Latest Daily % change Brazil real 5.5754 -0.19 Mexico peso 21.8310 -1.25 Chile peso 830.26 -1.19 Colombia peso 4005.53 -0.76 Peru sol 4.0383 -0.40 Argentina peso 100.7900 -0.09 (interbank) (Reporting by Susan Mathew in Bengaluru and Karin Strohecker in London; editing by Philippa Fletcher, Kirsten Donovan)

European shares suffer worst day in 17 months on virus fears

Nov 26 2021

European stocks plummeted amid widespread selling on Friday, as reports of a newly identified and possibly vaccine-resistant coronavirus variant stoked fears of a fresh hit to the global economy and drove investors out of riskier assets.

Wall Street ends higher; Nvidia surge offsets Nordstrom, Gap slide

Nov 24 2021

Wall Street ended higher on Wednesday, lifted by gains in Nvidia and other tech stocks, while Gap and Nordstrom shares tumbled following weak quarterly reports. | Video

US STOCKS-Wall Street ends higher; Nvidia surge offsets Nordstrom, Gap slide

Nov 24 2021

* Real estate leads among S&P 500 sectors (Updates with end of session)

US STOCKS-Wall Street mixed; Nordstrom and Gap tumble after results

Nov 24 2021

* Indexes: Dow -0.23%, S&P 500 -0.02%, Nasdaq +0.01% (Updates with afternoon trading)

US STOCKS-Wall Street pares losses on positive economic data, tech recovery

Nov 24 2021

* Indexes: Dow down 0.22%, S&P up 0.04%, Nasdaq up 0.24% (Updates to midday)

US STOCKS-Wall Street slides as retail, tech stocks weigh

Nov 24 2021

* Indexes off: Dow 0.29%, S&P 0.25%, Nasdaq 0.32% (Updates to market open)

US STOCKS-Wall Street set to fall on mixed data, retail earnings

Nov 24 2021

* Futures down: Dow 0.53%, S&P 0.53%, Nasdaq 0.74% (Adds comment, updates prices)

US STOCKS-Futures dip ahead of data barrage; Nordstrom sinks after earnings

Nov 24 2021

Nov 24 U.S. stock index futures fell on Wednesday ahead of a slew of economic data releases, with investors nervous about inflation and prospects for faster interest rate hikes heading into the Thanksgiving holiday.

Nasdaq ends lower for second day as Big Tech loses ground

Nov 23 2021

The Nasdaq ended lower for a second straight session on Tuesday, while the S&P 500 rose, as rising Treasury yields prompted investors to sell Tesla and other Big Tech names and buy stocks with lower valuations. | Video

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