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EMERGING MARKETS-Mexico peso firms as Trump adopts restrained tone
March 1, 2017 / 11:31 PM / 9 months ago

EMERGING MARKETS-Mexico peso firms as Trump adopts restrained tone

 (Updates table, prices)
    SAO PAULO, March 1(Reuters) - 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 more than 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
0.5 percent, supported by rising shares of state-controlled oil
company Petróleo Brasileiro SA.
    In Mexico, Cemex shares rose more than 6
percent and were the highest performing on the Mexican exchange,
outperforming the IPC index, which was up 1.3 percent. 
    It was the best one-day percent gain in nearly a year for
the company.
    
    Key Latin American stock indexes and currencies at 2300 GMT:
 Stock indexes                  daily %  YTD %
                       Latest    change  chang
                                             e
 MSCI Emerging          938.47     0.22   8.84
 Markets                                 
 MSCI LatAm            2615.86     0.61  11.76
                                         
                                         
 Brazil Bovespa       66988.88     0.49  11.23
                                         
 Mexico IPC           47467.95      1.3   4.00
                                         
 Chile IPSA            4399.95     0.92   5.99
                                         
 Chile IGPA           22007.77      0.9   6.14
                                         
 Argentina MerVal     19358.97     1.26  14.43
                                         
 Colombia IGBC         9889.73     0.01  -2.35
                                         
 Venezuela IBC        36228.78     1.45  14.27
                                         
                                              
 Currencies                     daily %  YTD %
                                 change  chang
                        Latest               e
 Brazil real              3.09     0.62   5.07
                                         
 Mexico peso             19.80   1.52    4.77
                                         
 Chile peso              650.5    -0.04   3.11
                                         
 Colombia peso            2928    -0.15   2.51
                                         
 Peru sol                 3.26    -0.06   4.76
                                         
 

 (Reporting by Bruno Federowski; Editing by Jonathan Oatis)
  

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