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Susan Mathew

EMERGING MARKETS-Emerging shares, FX fall; Indonesia buoyed by election optimism

Apr 18 2019

April 18 Emerging market shares slipped in lacklustre trade on Thursday ahead of a long Easter holiday as they tracked a dip on Wall Street overnight, while developing currencies also lost ground against a stronger dollar.

European shares ease from eight-month high as miners weigh

Apr 17 2019

European shares eased from eight-month highs on Wednesday, weighed down by healthcare and mining stocks while investors looked past better-than-expected first-quarter economic growth in China.

Most Latam currencies rise as dollar weakens

Apr 17 2019

Most Latin American currencies firmed on Wednesday as the dollar weakened after upbeat economic data from China eased some fears of a slowdown in its economy.

EMERGING MARKETS-Emerging shares, currencies cheered by China data but gains limited

Apr 17 2019

April 17 Emerging market shares and currencies firmed on Monday after China's economic growth for the first quarter rose unexpectedly, but gains were limited as doubts remain if it may still be too early to call it a recovery.

EMERGING MARKETS-Latam shares track global rally, currencies weaken

Apr 16 2019

By Susan Mathew April 16 Latin American currencies weakened against a firmer dollar on Tuesday, while most regional stocks rose in line with world stocks as gains on positive data from China and Germany were reinforced by Wall Street's higher open. Mexico's IPC stock index climbed half a percent on broad-based gains, while Chile's IPSA rose for the first time in five days. Argentine shares added 1.6 percent and were on track for their biggest one-day gain in more than two weeks. Regional shares tracked a rally in world stocks that hit a more than six-month high as signs of stabilization in China's economy and positive data from Germany buoyed sentiment. Strong healthcare earnings pushing Wall Street higher cemented the rise. Brazil's Bovespa stock index rose 1.5 percent with state oil firm Petroleo Brasileiro and consumer shares leading gains. Petrobras, as the oil company is known, rose ahead of a meeting between its Chief executive Roberto Castello Branco and Brazilian President Jair Bolsonaro to discuss the diesel pricing policy. The company has been under pressure after it delayed a diesel price hike after a call from Bolsonaro. Castello Branco has denied there was government interference. Petrochemical company Braskem SA was among the biggest drags on the Bovespa after an appeals court in Alagoas state ruled the company's shareholders cannot approve its planned payment of 2.7 billion reais ($697 million) in dividends. The real fell 0.4 percent as leaders of Brazil's largest parties delayed an expected vote to start discussion in parliament on the country's pension reform to next week. "This short delay is a way for the centrist parties to make their voices heard, and may be a preview of the opposition to come when the bill is debated in the special committee," analysts at Citi Research said in a note. House speaker (Rodrigo) Maia's goal to have pension reform approved by the lower house by June-end "is ambitious in our view ... opposition will be strong and risks to a longer approval are high. At this stage we expect the special committee to approve the pension reform in first half of the year," they said. Argentina's currency broke a six-session winning streak to dip 0.8 percent against a dollar strengthened largely by the euro's fall. The Colombian and Mexican pesos both slipped 0.5 percent as lower oil prices added to the net crude exporters' woes. Key Latin American stock indexes and currencies at 1442 GMT: Stock indexes Latest Daily % change MSCI Emerging Markets 1093.08 0.63 MSCI LatAm 2768.75 0.87 Brazil Bovespa 94514.04 1.54 Mexico IPC 44848.66 0.5 Chile IPSA 5236.28 0.08 Argentina MerVal 32257.64 1.61 Colombia IGBC 12928.41 0.07 Currencies Latest Daily % change Brazil real 3.8832 -0.43 Mexico peso 18.9429 -0.49 Chile peso 663.7 -0.21 Colombia peso 3154.75 -0.53 Peru sol 3.293 0.03 Argentina peso 42.0500 -0.98 (interbank) (Reporting by Susan Mathew in Bengaluru; Editing by Susan Thomas)

EMERGING MARKETS-Stocks gain as China economic data power rally

Apr 16 2019

* MSCI EM index headed for biggest one-day rise in three weeks

EMERGING MARKETS-Emerging shares rise on trade hopes, China data; Turkey's lira drops

Apr 15 2019

April 15 Emerging market shares rose on Monday on optimism that U.S.-China trade talks could be nearing the final round, while easing fears of a slowdown in global growth on signs of stabilization in the Chinese economy further boosted risk sentiment.

EMERGING MARKETS-Latam FX mostly firm; Brazil hit by Petrobras, pension woes

Apr 12 2019

(Recasts throughout, updates prices) By Susan Mathew April 12 Most Latin American currencies firmed against a weaker U.S. dollar on Friday amid signs of stabilization in China's economy, while assets in Brazil fell as a slump in Petrobras and uncertainty around much anticipated pension reforms weighed. Data on Friday showed that China's exports rebounded to a five-month high in March, but imports shrank for a fourth straight month and at a faster pace, painting a mixed picture of the economy. "While the market has been expecting better China data, positioning is still light. We are positive on Latam FX as the better China sentiment is gathering steam," analysts at Citi Research said in a note. Mexico's peso rose 0.4 percent and touched its highest level in over three weeks during the session. The currency firmed four out of five days this week, taking gains on the week to 1.7 percent. Higher oil prices also aided the currency's gains as well as crude-exporting peer Colombia's peso currency. Chile's peso scaled a five-week high during the session and closed 0.5 percent higher. While most other regional stock indexes ended the day lower, shares in Mexico closed up 0.2 percent boosted by an 11 percent surge in Santander Mexico after its Spanish parent offered to take full control of its Mexican business through a 2.6 billion euro ($2.9 billion) deal. In Brazil, the currency ended about 0.6 percent lower, while stocks slid nearly 2 percent and hit an over two-week low. Brazil's Petroleo Brasileiro SA slumped over 7.7 percent after it canceled a diesel price hike as President Jair Bolsonaro called for "fair" prices out of concern for truckers, spooking investors wary of political interference at the state-run oil firm. "The question is to what extent this decision was technical and absent of political interference - which is something that we have seen happen in the past and left the state in a complicated situation," said Sabrina Cassiano an analyst at Coinvalores. Meanwhile, as debates about the pension reform proposal progress, Brazilian police accused lower house speaker Rodrigo Maia of receiving bribes totaling at least 1.4 million reais ($361,869). The accusations could prove a headache for Bolsonaro's government, which is relying on Maia to guide its thorny reforms through an unpredictable Congress. Uncertainties over the pace of reform have haunted markets in recent days with the local stock index slipping for the fourth straight session and logging a weekly loss of 4.4 percent. Key Latin American stock indexes and currencies at 2100 GMT: Stock indexes Latest Daily % change MSCI Emerging Markets 1,089.09 0.15 MSCI LatAm 2,760.61 -1.67 Brazil Bovespa 92,875.00 -1.98 Mexico IPC 44,686.06 0.24 Chile IPSA 5,239.57 -0.29 Argentina MerVal 31,357.03 -0.46 Colombia IGBC 13,130.10 -0.19 Currencies Latest Daily % change Brazil real 3.8812 0.59 Mexico peso 18.7508 0.40 Chile peso 660.8 0.64 Colombia peso 3,113.03 0.16 Peru sol 3.297 0.03 Argentina peso (interbank) 42.1800 1.35 (Reporting by Susan Mathew in Bengaluru and Paula Arend Laier in Sao Paulo; editing by G Crosse)

European shares end higher boosted by banks and auto stocks

Apr 12 2019

European shares finished higher for a third straight day on Friday, with investor sentiment getting a boost from JP Morgan setting a strong start to U.S. earnings and amid signs of stabilization in China's economy.

EMERGING MARKETS-Latam FX, stocks rise, Mexican shares at 2-month high

Apr 05 2019

By Susan Mathew April 5 Most Latin American currencies firmed against a slightly stronger dollar on Friday, while Brazil's real weakened as President Jair Bolsonaro appealed to leaders of five big centrist parties to back his pension reform plan. The real slipped 0.1 percent, having lost as much as 0.36 percent earlier in the session, but was on course for its best week since early February. Late Thursday, Bolsonaro asked the leaders for their support of the pension proposal, resorting to the traditional political methods he had condemned during the election campaign. The outlook for the real has weakened for the first time since Bolsonaro took office at the start of the year amid doubts about the pension reform drive, a Reuters poll on Friday showed. "The recent political turmoil suggests that the government's political coordination needs to improve in order to maximize the total fiscal savings coming from the pension reform. We continue to expect that the government will win approval of a decent reform," analysts at Credit Suisse said in a note. Meanwhile, Mexico's peso ticked 0.3 percent higher and was on track to log its biggest weekly gain in more than six months. White House adviser Larry Kudlow said U.S. President Donald Trump sees improvement from Mexico regarding border issues and will not close the southern border at the moment. The peso has been volatile over the past few sessions. Currencies in Chile, Colombia and Peru firmed between 0.1 percent and 0.2 percent as the dollar rally lost steam. Among stocks, most regional bourses logged significant gains, tracking a rise on Wall Street spurred by positive data on U.S. jobs growth. Mexican shares jumped more than 1 percent to a two-month high. Argentine stocks rose 1.5 percent on Friday. Brazil's Bovespa rose 1 percent and touched a two-week high on gains in financial and consumer stocks. On the week the benchmark has so far tacked on 1.9 percent. Itau Unibanco was up 1.5 percent, while meat company JBS SA jumped 5.3 percent. Colombian shares edged higher by 0.7 percent. Oil company Ecopetrol rose 0.6 percent after JP Morgan upgraded the stock to "neutral" from "underweight." Key Latin American stock indexes and currencies at 1449 GMT: Stock indexes Latest Daily % change MSCI Emerging Markets 1084.99 0.39 MSCI LatAm 2831.50 1.22 Brazil Bovespa 97390.45 1.12 Mexico IPC 44463.99 1.2 Chile IPSA 5270.42 -0.25 Argentina MerVal 32621.65 1.49 Colombia IGBC 13130.96 0.7 Currencies Latest Daily % change Brazil real 3.8612 -0.12 Mexico peso 19.0830 0.33 Chile peso 663.4 0.32 Colombia peso 3122.71 0.17 Peru sol 3.296 0.00 Argentina peso 43.4100 0.02 (interbank) (Reporting by Susan Mathew in Bengaluru; Editing by Jeffrey Benkoe)

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