By Bruno Federowski
SAO PAULO, Jan 2 The Brazilian real and the
Mexican peso seesawed on Monday, the first trading day of the
year, in thin trading volumes due to holidays in the United
States and other Latin American markets.
The real weakened 0.7 percent, after posting its best
yearly performance in seven years in 2016. The Mexican peso
Only around 70,000 front-month futures contracts for
the real had traded hands by early afternoon, less than
one-third of last month's daily average.
Traders also adjusted their holdings in Brazil to moves in
global financial markets on Dec. 30, when Brazilian markets were
closed ahead of the New Year's holiday.
Brazil's benchmark Bovespa stock index fell 1.2
percent, weighed down by shares of blue-chips Petróleo
Brasileiro SA and Vale SA.
U.S.-listed shares in both companies
had dropped on Friday as investors booked profits from
hefty gains throughout 2016.
Units, a blend of common and preferred shares, in Brazil's
Renova Energia SA rose over 15 percent, their
biggest daily gain in a month.
Reuters reported that Renova is in talks to sell its Alto
Sertao II wind farm to AES Brasil, the Brazilian unit of AES
Corp, for 600 million to 700 million reais ($214
Colombian and Chilean markets did not open on Monday due to
Key Latin American stock indexes and currencies at 1550 GMT:
Stock indexes daily %
MSCI Emerging Markets 859.89 -0.28
MSCI LatAm 2316.93 -1.01
Brazil Bovespa 59763.99 -0.77
Mexico IPC 45605.96 -0.08
Argentina MerVal 16998.37 0.47
Venezuela IBC 31633.66 -0.23
Currencies daily %
Brazil real 3.2759 -0.69
Mexico peso 20.7400 0.02
Argentina peso (interbank) 15.9000 -0.13
Argentina peso (parallel) 16.85 0.12
(Reporting by Bruno Federowski; Editing by Daniel Flynn and