Latam stocks rise as US growth worries ease; currencies gain
Updated at 1515 GMT
Colombia GDP data on deck
Peru GDP growth slows in June
Gaza ceasefire talks begin
PBOC pledges to keep policy supportive
By Lisa Pauline Mattackal
Aug 15 (Reuters) -Stocks and currencies in Latin America rose on Thursday after stronger than expected U.S. retail sales data calmed fears about a slowdown in the world's largest economy, while gains in commodity prices lifted regional currencies.
MSCI's index of Latin American stocks .MSCIEF jumped 0.8% and was on track for an eighth session of gains.
Local bourses rose, with Argentina's Merval .MERV, Brazil's Bovespa .BVSP, Colombia's Colcap .COLCAP and Mexican stocks .MXX up between 0.5% and 1.9%.
U.S. retail sales data jumped more than expected in July and jobless claims slipped, pointing to a still-resilient economy. That soothed worries about slowing demand which had unnerved markets over the past few weeks, while reinforcing the case for the Federal Reserve to ease policy in September.
"Investors are breathing a sigh of relief this morning, letting recent worries of economic softness subside ... today’s reports should buy (the Fed) some time until the September meeting," said Bret Kenwell, U.S. investment analyst at eToro.
Most Latin American stock indices have all but recovered losses from a steep selloff earlier in the month.
Currencies in the region also gained, as rising prices of oil and copper boosted producers.
Brazil's real BRBY gained 0.2%. Mexico's peso MXN= rose 0.7%, while Colombia's peso COP= edged 0.1% higher ahead of the release of gross domestic product data, with both currencies trading at multi-week highs.
Analysts forecast Colombia's economy grew 2.2% in the second quarter of 2024 from the same period a year earlier.
"I think there are some reasons for optimism, to see even a little improvement in some industries will be a very welcome development in a country that has failed recently to provide many positive announcements," said Carlos Huesca, LatAm director at research firm EmergingMarketWatch.
Peru's sol PEN=PE lagged, however, slipping 0.3%. Data showed the country's GDP rose 0.2% in June on an annual basis, slowing from 5% in the prior month.
The U.S. data also soothed concerns about a slowdown in China's economy after weaker data earlier in the day.
China's central bank governor said policymakers would stick to supportive monetary policy and aim to help consumers' financing needs.
Israel's shekel ILS= strengthened to a near three-week high against the dollar as a new round of Gaza ceasefire talks began in Qatar.
Elsewhere, Nigeria's headline inflation rate fell in July for the first time in well over a year, potentially signaling inflation has peaked as currency devaluation effects start to fade.
Local markets in Chile were closed for a holiday.
HIGHLIGHTS
** BHP strike in Chile enters third day, buoying global copper price
** WEEKAHEAD-AFRICA-FX-Kenya and Ghana currencies seen steady
** Ethiopia bondholders disappointed by proposed bond haircut
Key Latin American stock indexes and currencies
MSCI Emerging Markets .MSCIEF | 1075.13 | -0.13 |
MSCI LatAm .MILA00000PUS | 2324.53 | 0.77 |
Brazil Bovespa .BVSP | 134277.61 | 0.72 |
Mexico IPC .MXX | 54013.79 | 0.55 |
Argentina Merval .MERV | 1637872.43 | 1.901 |
Colombia COLCAP .COLCAP | 1357.56 | 0.51 |
Currencies | Latest | Daily % change |
Brazil real BRL= | 5.4596 | 0.24 |
Mexico peso MXN= | 18.6541 | 0.67 |
Chile peso CLP= | 932.4 | 0.12 |
Colombia peso COP= | 4010.21 | 0.1 |
Peru sol PEN= | 3.7329 | -0.28 |
Argentina peso (interbank) ARS=RASL | 940.5 | 0 |
Argentina peso (parallel) ARSB= | 1330 | 1.879699248 |
Reporting by Lisa Mattackal in Bengaluru; Editing by Bernadette Baum
Activos relacionados
Últimas noticias
Descargo de responsabilidades: Cada una de las entidades de XM Group proporciona un servicio de solo ejecución y acceso a nuestra plataforma de trading online, permitiendo a una persona ver o usar el contenido disponible en o a través del sitio web, sin intención de cambiarlo ni ampliarlo. Dicho acceso y uso están sujetos en todo momento a: (i) Términos y Condiciones; (ii) Advertencias de riesgo; y (iii) Descargo completo de responsabilidades. Por lo tanto, dicho contenido se proporciona exclusivamente como información general. En particular, por favor tenga en cuenta que, los contenidos de nuestra plataforma de trading online no son ni solicitud ni una oferta para entrar a realizar transacciones en los mercados financieros. Operar en cualquier mercado financiero implica un nivel de riesgo significativo para su capital.
Todo el material publicado en nuestra plataforma de trading online tiene únicamente fines educativos/informativos y no contiene –y no debe considerarse que contenga– asesoramiento ni recomendaciones financieras, tributarias o de inversión, ni un registro de nuestros precios de trading, ni una oferta ni solicitud de transacción con instrumentos financieros ni promociones financieras no solicitadas.
Cualquier contenido de terceros, así como el contenido preparado por XM, como por ejemplo opiniones, noticias, investigaciones, análisis, precios, otras informaciones o enlaces a sitios de terceros que figuran en este sitio web se proporcionan “tal cual”, como comentarios generales del mercado y no constituyen un asesoramiento en materia de inversión. En la medida en que cualquier contenido se interprete como investigación de inversión, usted debe tener en cuenta y aceptar que dicho contenido no fue concebido ni elaborado de acuerdo con los requisitos legales diseñados para promover la independencia en materia de investigación de inversiones y, por tanto, se considera como una comunicación comercial en virtud de las leyes y regulaciones pertinentes. Por favor, asegúrese de haber leído y comprendido nuestro Aviso sobre investigación de inversión no independiente y advertencia de riesgo en relación con la información anterior, al que se puede acceder aquí.
