UPDATE 1-Greece says needs to step up privatisations
ATHENS, June 28 Greece needs to step up its privatisation programme, deputy finance minister George Chouliarakis said on Wednesday.
SAO PAULO, March 1 xx The Mexican peso strengthened on Wednesday after U.S. President Donald Trump took a conciliatory stance in a key speech, backing away from his harsh campaign rhetoric. The peso has weakened sharply since Trump's unexpected Nov. 8 election victory as he vowed to curtail trade and financial flows with Mexico. In a prime-time televised address to the country on Tuesday, Trump offered a more restrained tone than during his election campaign, telling Congress he was open to immigration reform. The peso firmed 1 percent, outperforming other mostly flat Latin American currencies. Demand for emerging market currencies was muted after a handful of U.S. Federal Reserve policymakers signaled the possibility of a March interest rate increase. Higher U.S. rates could drain investments away from high-yielding assets. Still, Brazil's benchmark Bovespa stock index rose 0.7 percent, supported by rising shares of state-controlled oil company Petróleo Brasileiro SA. Petrobras, as the company is known, announced late on Friday that it would cut prices for diesel and gasoline at domestic refineries. In a client note, analysts at Credit Suisse Securities led by André Natal said the spread between local gasoline prices and import prices remains at attractive levels, at roughly 13 percent. Brazilian markets did not open on Monday and Tuesday due to a local holiday. Key Latin American stock indexes and currencies at 1700 GMT: Stock indexes daily % YTD % change change Latest MSCI Emerging Markets 937.93 0.17 8.59 MSCI LatAm 2627.30 1.05 11.08 Brazil Bovespa 67154.20 0.74 11.50 Mexico IPC 47438.71 1.24 3.93 Chile IPSA 4382.14 0.51 5.56 Chile IGPA 21918.07 0.49 5.71 Argentina MerVal 19358.68 1.26 14.43 Colombia IGBC 9909.00 0.2 -2.16 Venezuela IBC 36228.78 1.45 14.27 Currencies daily % YTD % change change Latest Brazil real 3.1039 0.25 4.68 Mexico peso 19.9050 1.00 4.22 Chile peso 650.5 -0.05 3.11 Colombia peso 2933.16 -0.32 2.33 Peru sol 3.255 0.18 4.88 Argentina peso (interbank) 15.4500 0.19 2.75 Argentina peso (parallel) 16.2 0.49 3.83 (Reporting by Bruno Federowski; Editing by Jonathan Oatis)
LONDON, June 28 Emerging stocks retreated on Wednesday, taking their cue from Wall Street losses amid rising U.S. and German bond yields and expectations that the Fed and ECB will soon cut back on stimulus.