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EMERGING MARKETS-Brazil stocks up on rising commodities; Suzano leads gains
February 9, 2017 / 3:19 PM / 7 months ago

EMERGING MARKETS-Brazil stocks up on rising commodities; Suzano leads gains

By Bruno Federowski
    SAO PAULO, Feb 9 (Reuters) - Brazilian stocks rose on
Thursday as prices of commodities advanced, with pulp and paper
company Suzano Papel e Celulose SA leading gains after
fourth-quarter earnings.
    Preferred shares in Suzano jumped 3 percent, the
biggest gainers on the benchmark Bovespa stock index, on
a sharp drop in cash costs for pulp production. 
    "We believe that Suzano is well positioned to overcome a
potential challenging scenario of lower pulp prices and a
stronger real," Itaú BBA analysts wrote in a note to clients.
    Shares of miner Vale SA and state-controlled oil
company Petróleo Brasileiro SA added the most points
to the index, tracking prices of iron ore and crude futures.
    Rising commodities also helped support Latin American
currencies, with oil-heavy Colombia's peso strengthening
the most.
    Still, gains were limited by concerns that France's
presidential election could drive the country out of the euro
zone, which have led global investors to shed risky assets and
seek refuge in the U.S. dollar.
    
    Key Latin American stock indexes and currencies at 1455 GMT:
 Stock indexes                                daily %   YTD %
                                               change  change
                                   Latest              
 MSCI Emerging Markets                926.82     0.56    6.89
 MSCI LatAm                          2561.77     0.65    8.74
 Brazil Bovespa                     65191.53     0.55    8.24
 Mexico IPC                         47111.53      0.4    3.22
 Chile IPSA                          4274.14     0.16    2.96
 Chile IGPA                         21326.53     0.16    2.86
 Argentina MerVal                   19348.08     1.04   14.36
 Colombia IGBC                      10067.28     0.08   -0.60
 Venezuela IBC                      28241.06    -0.12  -10.93
                                                             
 Currencies                                   daily %   YTD %
                                               change  change
                                      Latest           
 Brazil real                          3.1164     0.08    4.26
 Mexico peso                         20.4160     0.30    1.61
 Chile peso                            646.2     0.26    3.79
 Colombia peso                        2862.9     0.63    4.84
 Peru sol                              3.274     0.34    4.28
 Argentina peso (interbank)          15.6000     0.50    1.76
                                                       
 Argentina peso (parallel)             16.39     0.55    2.62
                                                       
 
 (Reporting by Bruno Federowski; Editing by Alistair Bell)

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