EMERGING MARKETS-Latin American currencies mostly up as Chinese equities rise

(Updates prices; adds news from Brazil, Peru)
By Bruno Federowski
BRASILIA, July 13 (Reuters) – Most Latin American currencies
strengthened on Friday as rising Chinese shares brought solace
to investors following weeks of losses driven by escalating
global trade frictions.
The Colombian and Mexican peso currencies appreciated the
most, gaining 0.
59 percent and 0.52 percent, respectively.

China stocks posted their best week in over two
years as historically low valuations brought back buyers. That
triggered a bounce-back across riskier emerging-market assets,
which have taken a beating in recent weeks.
Most foreign exchange markets across Latin America followed
along, while the Brazilian real and Chilean peso
dipped slightly.
“Brazilian currency markets are likely to track foreign
markets while the presidential race remains ‘on pause’ and
without major economic indicators set to be released,” analysts
at H.
Commcor brokerage wrote in a report.
Brazil’s benchmark Bovespa stock index also rose,
but saw some volatility due to a heavy batch of corporate news.
Shares of Cielo, Brazil’s largest payment
processor, plummeted after its chief executive officer resigned,
citing personal and family-related issues.
In Brazilian commodities, soybean farmers will expand the
area planted to a record next season, agricultural consultancy
Safras & Mercado predicted on Friday, with strong demand from
China boosting the outlook for the coming crop.
The area will likely grow by 2.3 percent to a record-high 36
million hectares (88.
9 million acres), the consultancy said,
referring to the season that kicks off in September.

Mexico’s benchmark S&P/BMV IPC index, meanwhile, was
down 0.
6 percent as investors awaited most major listed
companies’ second quarter earnings reports over the next couple
weeks.
In Peru, the annual inflation rate may drop below last
month’s 1.
43 percent pace in the third quarter but is not
expected to fall under 1 percent, the central bank said on
Friday.

Key Latin American stock indexes and currencies at 2059 GMT:

Stock indexes Latest daily % change YTD % change
MSCI Emerging Markets 1075.
64 0.5 -7.
15

MSCI LatAm 2577.21 0.
36 -8.87

Brazil Bovespa 76594.
35 0.97 0.
25

Mexico IPC 48406.01 -0.
6 -1.92

Chile IPSA 5305.
39 0.41 -4.
66

Chile IGPA 26849.63 0.
32 -4.04

Argentina MerVal 26514.
16 -0.71 -11.
81

Colombia IGBC 12262.15 0.
14 7.84

Venezuela IBC 102081.
18 -3.12 7981.
54

Currencies Latest daily % change YTD % change

Brazil real 3.8504 -0.
02 -13.95

Mexico peso 18.
8850 0.52 4.
31

Chile peso 649.6 -0.
16 -5.38

Colombia peso 2856.
95 0.59 4.
38

Peru sol 3.271 0.
03 -1.04

Argentina peso 27.
2100 0.07 -31.
64
(interbank)

Argentina peso 28.67 -0.
77 -32.93
(parallel)

(Reporting by Bruno Federowski
Editing by Phil Berlowitz and James Dalgleish)
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