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EMERGING MARKETS-Brazil stocks rise as Vale rallies on output data
April 20, 2017 / 4:43 PM / 7 months ago

EMERGING MARKETS-Brazil stocks rise as Vale rallies on output data

    By Bruno Federowski
    SAO PAULO, April 20 (Reuters) - Brazilian stocks gained on
Thursday, supported by a rally in shares of miner Vale SA
 following solid first-quarter production figures.
    Vale's iron ore output fell 6.7 percent on a quarterly basis
due to seasonal effects, but jumped 11.2 percent from a year ago
to a record high for the period.
    The company's shares rose as much as 4.9 percent, adding the
most points of any stock to Brazil's benchmark Bovespa index
. Analysts at Itaú BBA maintained an "outperform"
recommendation on the stock, citing prospects of a strong
first-quarter operating profit. 
    Steelmaker Usinas Siderúrgicas de Minas Gerais
also rose after it reversed a loss in the first quarter amid
early signs of a recovery in industrial output.
    The Brazilian real seesawed, in line with other Latin
American currencies, maintaining a volatile trend as investors
fretted over growing geopolitical risk.
    Mounting tensions in North Korea and Syria have dampened
demand for higher-yielding emerging market assets, while
uncertainty related to elections in France and the United
Kingdom kept investors from making higher-risk bets.
    Still, several polls showing French centrist Emmanuel Macron
easily beating far-right candidate Marine Le Pen in a second
round vote helped soothe some investor concerns on Thursday.

    Key Latin American stock indexes and currencies at 1620 GMT:

 Stock indexes                     Latest     Daily     YTD
                                               pct      pct
                                              change   change
 MSCI Emerging Markets               958.51      0.59   10.51
 MSCI LatAm                        2,600.71     -0.11   11.24
 Brazil Bovespa                   63,646.29      0.38    5.68
 Mexico IPC                       49,021.40       0.3    7.40
 Chile IPSA                        4,805.28     -0.67   15.75
 Chile IGPA                       24,138.61     -0.59   16.42
 Argentina MerVal                 20,617.83      0.51   21.87
 Colombia IGBC                    10,109.21     -0.14   -0.19
 Venezuela IBC                    47,695.30      0.28   50.43
 Currencies                        Latest     Daily     YTD
                                               pct      pct
                                              change   change
 Brazil real                         3.1494     -0.10    3.17
 Mexico peso                        18.8400      0.04   10.11
 Chile peso                             650     -0.23    3.18
 Colombia peso                      2,865.5      0.09    4.75
 Peru sol                             3.244      0.03    5.24
 Argentina peso (interbank)         15.3950      0.03    3.12
 Argentina peso (parallel)            16.03      0.44    4.93
 (Reporting by Bruno Federowski, editing by G Crosse)

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