October 7, 2019 / 2:39 PM / 11 days ago

EMERGING MARKETS-Latam FX set to snap 3-day rally as trade concerns set in

    Oct 7 (Reuters) - Latin American currencies edged lower on
Monday after a three day run of increases, as the dollar gained
favor amid skepticism over the outcome of the U.S.-China trade
talks this week.
    Markets in the region were coming off a positive week, when
worries about global growth and trade disputes initially hit
sentiment, but U.S. data on Friday showing modest job growth
quelled some recession worries and sparked a rally in risky
assets.
    MSCI's index of Latin American currencies
was down 0.13% after rising 1.9% last week, while its equities
counterpart edged down 0.3%, on course to erase
all of last week's gains.
    Bloomberg reported over the weekend that Chinese officials
were reluctant to agree to U.S. President Donald Trump's broad
trade deal, denting sentiment ahead of a round of talks between
the two sides on Oct. 10-11.
    The Brazilian real and the Mexican peso shed
about 0.2% each, while Sao Paulo-listed shares fell
0.3%, dragged down by banks.
    However, shares of Banco Bradesco SA gained 1.4%
after the company proposed to its board of directors the payment
of an extraordinary dividend.
    Shares of telecom carrier Oi SA rose 3.5% after a
report Spain's Telefonica SA was in talks with Mexico's
America Movil and Telecom Italia to buy the
company's assets.     

    Latin American stock indexes and currencies at 1408:
        Stock indexes                  Latest       Daily %
                                                     change
 MSCI Emerging Markets                     995.49       -0.11
 MSCI LatAm                               2680.85       -0.41
 Brazil Bovespa                         102257.66       -0.29
 Mexico IPC                              43299.28       -0.27
 Chile IPSA                               5030.00        -0.2
 Argentina MerVal                               -           -
 Colombia IGBC                           12950.73        0.04
                                                             
           Currencies                  Latest       Daily %
                                                     change
 Brazil real                               4.0643       -0.21
 Mexico peso                              19.5441       -0.19
 Chile peso                                 716.5       -0.14
 Colombia peso                            3441.48       -0.30
 Peru sol                                  3.3858       -0.20
 Argentina peso (interbank)               57.8200       -0.12
                                                   
 

 (Reporting by Sruthi Shankar in Bengaluru)
  
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