n n n ‘. concat(e. i18n. t(“search. voice. recognition_retry”),’n
* Latin American inventories rise 0. 4%, currencies remain stable * Peruvian sol and Colombian peso fall after Wednesday’s GDP release * Falling oil costs weigh on commodity-linked currencies ( Mise (updated at 3:00 p. m. ET/2000 GMT) By Siddharth S Nov 16 ( Reuters) – Latin American stocks rose for the fifth time on Thursday, boosted by Brazilian shares, while currencies Peru and Colombia fell more than 1% each after weak economic data in both countries raised concerns about growth. Latin American regional stocks rose 0. 4%, with the index trading around its highest point since early August. Although the main regional stock markets were in the red, Brazil’s Bovespa stock index rose 1. 2%, while the genuine gained 0. 1% against the dollar. In currency terms, the Peruvian sol and the Colombian peso each fell more than 1% after data from their respective countries showed on Wednesday that their economies were contracting more than expected. Overall, Latin American assets have gained over the past week, as slowing inflation in the United States fueled bets that the US Federal Reserve has moved to raise interest rates, and the dollar and yields US Treasury bonds fell from recent highs. “If expectations or considerations for additional (rate) increases from the Fed diminish, as we see some stability in the Treasury market, that would be positive for confidence in Latin America and in fact we have noticed it more recently,” said David Rees, head of emerging markets. markets. Schroders economist. Stocks in Mexico, Colombia and Chile fell between 0. 3% and 0. 8%, and resource inventories were hit by a 5% drop in oil costs. MSCI’s basket of Latin American currencies remained strong throughout the day against a largely unreplaced US dollar. The Mexican peso, however, rose 0. 2% to a near two-month high of 17. 26, consistent with the dollar. “Government bond flows are still suffering in Latin America, suggesting that some of the heavy buying in MXN would possibly be similar to hedging,” said Geoff Yu, senior EMEA markets strategist at BNY Mellon. Americana shares rose 7. 5% after the Brazilian retailer released its revised 2021 monetary statements and 2022 figures following the discovery of a multi-billion dollar accounting scandal this year, which led to a record bankruptcy. Adding additional pressure to the peso, Colombian President Gustavo Petro said the country deserves not to maintain its so-called fiscal rule to stimulate public investment and promote economic recovery, although he stated that such a resolution had to be made through Congress. Argentina’s Merval stock index fell 4% as investors prepare for the second round of the presidential election on Sunday. Global investors expect big monetary problems in Argentina, regardless of who the electorate decides on Sunday as the next president, as a much-needed fiscal adjustment will likely cause even more inflation. Main stock indices and currencies of Latin America at 2000 GMT: latest daily % replaces MSCI Emerging Markets nine83. 06 -0. 05 MSCI LatAm 2457. 07 0. 38 Brazil Bovespa 124601. 07 1. 17 Mexico IPC 52541. 58 – 0 . 48 Chile IPSA 572nine. 71 -0. 7nine Argentina MerVal 602278 . 1 nine – 4. 303 Colombia COLCAP 1106. 84 -0. 2nine Currencies Last daily update in % Genuine Brazilian 4. 8686 0. 01 Mexican peso 17. 2604 0. 20 Chilean peso 882Arraynine 0. 45 Colombian peso 4 085. 5 -1. 1nine Sun Peruvian 3. 8127 -1. 04 Argentine peso 353. 4500 -0. 13 (interbank) Argentine peso nine20 5. 43 (parallel) (Report prepared by Siddharth S and Lisa Mattackal in Bangalore; edited by Richard Chang)