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EMERGING MARKETS-Latam currencies gain as U.S. wages rise less than expected
February 3, 2017 / 10:13 PM / in 10 months

EMERGING MARKETS-Latam currencies gain as U.S. wages rise less than expected

(Updates prices)
    SAO PAULO, Feb 3 (Reuters) - Latin American currencies
strengthened on Friday after U.S. wages remained nearly flat in
January, reducing expectations of a fast interest rate-hike
cycle in the coming months.
    Wages rose just three cents last month despite the largest
gain in U.S. nonfarm payrolls in four months, a report showed.
    Investors bet the figures would keep the U.S. Federal
Reserve on a trajectory of gradual interest rate increases,
sustaining the allure of high-yielding emerging market assets.
    The Mexican and Chilean pesos firmed
around 1 percent, while the Brazilian real was flat. 
    Other emerging markets had been pressured earlier in the day
by an unexpected Chinese interest rate raise, but pared back
losses after the U.S. report.
    Brazil's benchmark Bovespa stock index rose 0.58
percent, supported by appetite for risky assets. The stock of
TIM Participações SA gained 4.38 percent after the
company reported strong fourth-quarter margins. 
    In Mexico, the IPC stock index rose 0.28 percent.
However, shares in mogul Carlos Slim's America Movil 
closed down 2.72 percent, the day after the company posted its
largest loss in 15 years in the fourth quarter.
    
    Key Latin American stock indexes and currencies at 2149 GMT:
    
 Stock indexes               Latest          Daily   YTD pct
                                               pct    change
                                            change  
 MSCI Emerging Markets            918.87       0.4      6.56
                                                    
 MSCI LatAm                     2,565.09      1.18      9.59
                                                    
 Brazil Bovespa                64,953.93      0.58      7.85
 Mexico IPC                    47,225.10      0.28      3.47
 Chile IPSA                     4,261.98      0.85      2.66
 Chile IGPA                    21,266.72      0.77      2.57
 Argentina MerVal              19,200.50      -0.9     13.49
                                                    
 Colombia IGBC                 10,201.45      0.08      0.72
 Venezuela IBC                 28,001.47     -0.69    -11.68
                                                            
 Currencies                       Latest     Daily   YTD pct
                                               pct    change
                                            change  
 Brazil real                      3.1235     -0.02      4.02
 Mexico peso                     20.3655      0.88      1.86
 Chile peso                        638.7      0.74      5.01
 Colombia peso                     2,849      0.85      5.35
 Peru sol                          3.258     -0.31      4.79
 Argentina peso (interbank)      15.6150      0.48      1.67
                                                    
 Argentina peso (parallel)         16.43      0.49      2.37
                                                    
 
    

 (Reporting by Bruno Federowski; Editing by Bernadette Baum and
Lisa Shumaker)

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