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EMERGING MARKETS-Brazil stocks rise, supported by miners and steelmakers
December 27, 2016 / 2:32 PM / 9 months ago

EMERGING MARKETS-Brazil stocks rise, supported by miners and steelmakers

By Bruno Federowski
    SAO PAULO, Dec 27 (Reuters) - Brazilian stocks rose on
Tuesday, supported by shares of miners and steelmakers as iron
ore prices broke a nine-day losing streak.
    China-listed iron ore future contracts eked out gains after
falling for nine straight days. 
    Concerns over economic growth in China, the world's top
commodities consumer, had dragged iron ore prices to a one-month
low following a sharp rally over the previous weeks.
    Shares of miner Vale SA advanced 1.3 percent,
adding the most points to Brazil's benchmark Bovespa stock index
, while shares in steelmaker Cia Siderúrgica Nacional SA
 led the gains.
    Trading volumes were thin as traders refrained from making
big bets during the year-end holiday season, with most Latin
American currencies trading flat.
    The Colombian peso was the best-performing currency
in the region, strengthening 0.3 percent as oil prices rose.
    Crude prices have gained support from a deal between OPEC
and non-OPEC producers to cut output amid persistent global
oversupply.
    
    Key Latin American stock indexes and currencies at 1425 GMT:
 Stock indexes                               daily %     YTD %
                                              change    change
                                 Latest               
 MSCI Emerging Markets              844.26      0.21      6.08
                                                      
 MSCI LatAm                        2277.90     -0.11     24.63
 Brazil Bovespa                   58728.89      0.19     35.48
 Chile IPSA                        4053.73      0.15     10.15
 Chile IGPA                       20344.94      0.14     12.08
 Argentina MerVal                 16133.19      0.12     38.18
 Colombia IGBC                    10026.04         0     17.30
 Venezuela IBC                    28413.02      0.03     94.77
                                                              
 Currencies                                  daily %     YTD %
                                              change    change
                                    Latest            
 Brazil real                        3.2790     -0.14     20.37
                                                      
 Mexico peso                       20.6255      0.01    -16.46
                                                      
 Chile peso                          673.1     -0.27      5.44
 Colombia peso                      2988.4      0.32      6.05
 Peru sol                            3.386     -0.03      0.83
                                                      
 Argentina peso (interbank)        15.5200      0.26    -16.35
                                                      
 Argentina peso (parallel)            16.8     -0.83    -15.06
                                                      
 

 (Reporting by Bruno Federowski; Editing by Meredith Mazzilli)

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