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EMERGING MARKETS-Mexico stocks up as airport operators soar, real gains
April 3, 2017 / 8:41 PM / 4 months ago

EMERGING MARKETS-Mexico stocks up as airport operators soar, real gains

 (Recasts with Mexican stocks, updates prices)
    April 3 (Reuters) - Mexican stocks gained on Monday, helped
by gains in shares of airport operators that have been boosted
by bets that a weak peso will keep tourists flooding into Latin
America's No. 2 economy this year. 
    Shares of Grupo Aeroportuario del Sureste jumped
more than 5 percent to a record high while shares of Grupo
Aeroportuario del Pacifico rose more than 2 percent to
their highest price since late October.
    The gains helped drive Mexico's benchmark IPC stock index
 up about 0.6 percent. 
    Analysts have been recommending Mexican airport and tourism
operators, as they are likely to escape any changes in trade
policy with the United States while also being poised to benefit
as a weaker peso draws bargain-hunting tourists. 
    While the peso has recovered from a record low hit in
January on concerns that U.S. President Donald Trump could slap
tariffs on Mexican exports, it is still weaker than levels hit
in the last two years.
    Mexico's peso and Brazil's real gained on Monday as traders
remained cautious amid lingering uncertainty over Trump's
ability to make good on pledges of tax cuts and fiscal spending.

    The Mexican peso firmed nearly 0.8 percent after
weakening for two straight days. The Brazilian real
gained but remained vulnerable to political news out of the
region's top economy. 
    Brazil's Supreme Electoral Tribunal will begin proceedings
on charges of illegal campaign funding that could lead to an
annulment of the 2014 election, which could bring an abrupt end
to the government of President Michel Temer.   
    Key Latin American stock indexes and currencies at 2000 GMT:
    
 Stock indexes                                daily   YTD %
                                                  %  change
                                   Latest    change  
 MSCI Emerging Markets               963.84    0.57   11.14
 MSCI LatAm                         2659.81    1.87   11.55
 Brazil Bovespa                    65158.79    0.27    8.19
 Mexico IPC                        48819.07    0.57    6.96
 Chile IPSA                         4791.56    0.17   15.42
 Chile IGPA                        24013.47    0.19   15.82
 Argentina MerVal                  20541.75    1.36   21.42
 Colombia IGBC                     10174.00    0.23    0.45
 Venezuela IBC                     43986.20    0.25   38.73
                                                           
 Currencies                                   daily   YTD %
                                                  %  change
                                             change  
                                     Latest          
 Brazil real                         3.1130    0.53    4.38
 Mexico peso                        18.6785    0.76   11.06
 Chile peso                           658.2    0.30    1.90
 Colombia peso                      2870.98    0.07    4.55
 Peru sol                              3.25   -0.06    5.05
 Argentina peso (interbank)         15.3900    0.03    3.15
                                                     
 Argentina peso (parallel)            15.94    0.25    5.52
                                                     
 

 (Reporting by Michael O'Boyle; Editing by Dan Grebler)
  

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