June 30, 2017 / 11:38 PM / 5 months ago

EMERGING MARKETS-Brazil stocks up as oil lifts Petrobras; political woes linger

 (Updates with final prices, Mexican details)
    SAO PAULO, June 30 (Reuters) - Brazilian stocks rose on
Friday as shares of state-controlled oil company Petróleo
Brasileiro SA followed crude prices higher, though
caution due to the country's political crisis lingered.
    Mexico's peso slipped 0.41 percent against the
dollar, but posted its second quarterly gain in a row after
hitting a record low in January on fears that U.S. President
Donald Trump's protectionist rhetoric could hurt the country's
economy.
    Those fears have since abated thanks to a more conciliatory
tone from U.S. officials, but Trump's vow to renegotiate or
ditch the North American Free Trade Agreement continues to
generate uncertainty for the outlook on the Mexican economy.
    Crude futures rose for a seventh straight session, in their
longest bull run since April. Shares of Petrobras rose 1.56
percent, lifting the Bovespa stock index 1 percent.
    Shares of sewage and water utility Cia de Saneamento Básico
do Estado de São Paulo SA advanced 2.76 percent after
regulators allowed a higher-than-expected increase in tariffs
charged by peer Copasa, fueling optimism over the sector.
    Shares of Cia de Saneamento de Minas Gerais, as
Copasa is formally known, jumped 3.36 percent.
    Still, traders remained fearful of further delays in the
implementation of President Michel Temer's agenda of structural
reform amid mounting corruption scandals.
    The Brazilian real dipped 0.15 percent, weighed down
by political concerns that drove its biggest quarterly loss in
nearly two years. Most other Latin American currencies seesawed
as investors pursued month-end adjustments to their portfolios.
    Key Latin American stock indexes and currencies at 2250 GMT:
 Stock indexes                                daily %    YTD %
                                     Latest    change   change
 MSCI Emerging Markets               1010.80    -0.32    17.23
 MSCI LatAm                          2544.13     0.49     8.69
 Brazil Bovespa                     62899.97     1.06     4.44
 Mexico S&P/BVM IPC                 49857.49     1.34     9.23
 Chile IPSA                          4747.24     0.36    14.35
 Chile IGPA                         23787.44     0.34    14.73
 Argentina MerVal                   21912.63     2.11    29.52
 Colombia IGBC                      10891.25     0.43     7.54
 Venezuela IBC                     123355.27      0.1   289.07
                                                              
 Currencies                                   daily %    YTD %
                                               change   change
                                      Latest           
 Brazil real                          3.3128    -0.15    -1.92
 Mexico peso                           18.12    -0.41    14.48
                                                       
 Chile peso                            663.7      0.2     1.05
 Colombia peso                       3044.90     0.11    -1.43
 Argentina peso (interbank)            16.60    -0.75    -4.37
                                                       
 Argentina peso (parallel)             16.79     0.77     0.18
                                                       
 

 (Reporting by Bruno Federowski; Editing by Tom Brown and Leslie
Adler)
  

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