By Bruno Federowski
SAO PAULO, Sept 5 Latin American stocks were
mixed on Monday, with light trading due to the Labor Day holiday
in the United States.
Surprisingly weak U.S. jobs data cast doubt on Friday over
the possibility of rate hikes this year, boosting demand for
high-yielding emerging market assets.
The jobs figures seemed to contradict recent comments by key
Federal Reserve policymakers, who have repeatedly stressed that
the U.S. central bank could tighten policy as soon as this
Shares in Brazilian meatpacker JBS SA dropped
over 10 percent, leading losers in the benchmark Bovespa index
Federal police had questioned the company's Chief Executive
Wesley Batista on Friday about an investment by pension funds in
pulp maker Eldorado Brasil SA, on whose board Batista sits.
However, higher oil prices supported demand
for stock in oil companies, with shares in Brazil's state-owned
Petróleo Brasileiro SA providing the
biggest boost to the Bovespa.
Oi SA, which is not part of the Brazilian index,
posted its best daily gain in over a month. The telecom provider
was expected to file its bankruptcy reorganization plan with a
Rio de Janeiro court on Monday, two sources familiar with the
situation told Reuters.
Brazil's currency, the real, dipped 0.88 percent from
Friday to 3.2821 per dollar on concerns new President Michel
Temer could struggle to pass austerity measures in Congress even
after the impeachment of his predecessor, Dilma Rousseff.
Elsewhere in Latin America, Mexico's peso finished slightly
stronger, closing up 0.17 percent from Friday to 18.569 per
(Reporting by Bruno Federowski; editing by Alan Crosby and Tom