April 27, 2018 / 12:04 AM / a month ago

EMERGING MARKETS-LatAm stocks rise on earnings, FX edge back from losses

 (Adds details on Mexican stocks, updates prices)
    MEXICO CITY, April 26 (Reuters) - Latin American stocks rose
on Thursday, helped by solid earnings and corporate news in
Mexico and Brazil while the region's currencies edged back from
recent losses. 
    Mexico's S&P/BMV IPC stock index rose nearly 0.5
percent, helped by gains at Wal-Mart de Mexico, or Walmex,
 and bottler and retailer Fomento Economico Mexicano,
or Femsa. 
    Femsa shares rose over 3 percent as investors looked past a
drop in profits to focus on growth in its convenience stores,
pharmacies and gas stations as well as news it would make more 
stores into pick-up points for Amazon deliveries.

    The shares in Walmex rose 3.5 percent after its profits
exceeded analyst expectations with 17 percent
growth.
    Shares in cement maker Cemex fell 2.5 percent
after it posted a 92 percent drop in quarterly profit.

    Brazil's benchmark Bovespa stock index rose 1.5
percent after a heavy batch of corporate earnings.
    Shares of shopping mall operator Multiplan Empreendimentos
Imobiliário SA rose 3.6 percent after it reported an
81 percent increase in first-quarter net profit.
    Miner Vale SA, lender Banco Bradesco SA
, toll-road operator Ecorodovias Infraestrutura e
Logística SA, wood pulp producer Klabin SA
and college operator Estácio Participações SA also
reacted to recently-published quarterly earnings.
    Emerging market currencies plummeted in recent days as
concerns over a widening U.S. fiscal deficit and accelerating
inflation lifted U.S. Treasury yields, dampening demand for
high-risk assets.
    Yields on 10-year U.S. bonds slipped back below 3 percent on
Thursday as buyers emerged following a week-long sell-off,
soothing angst among emerging-market investors.
    But caution remained as investors feared newfound strength
in the U.S. dollar may be here to stay.
    The Mexican and Chilean pesos and the
Brazilian real all edged back from losses, with the real
firming back from a 16-month low.
      
    Latin American stock indexes and currencies at 2100 GMT:
 Stock indexes                            daily %     YTD %
                                           change    change
                              Latest               
 MSCI Emerging Markets          1145.68      0.47     -1.57
                                                   
 MSCI LatAm                     2998.36         2      3.94
                                                   
 Brazil Bovespa                86328.02      1.51     12.99
                                                   
 Mexico IPC                    48277.96      0.46     -2.18
                                                   
 Chile IPSA                     5679.65      0.26      2.07
                                                   
 Chile IGPA                    28533.19      0.14      1.97
                                                   
 Argentina MerVal              29453.92     -1.65     -2.03
                                                   
 Colombia IGBC                 12270.82     -0.37      7.92
                                                   
 Venezuela IBC                 21266.50     15.21   1583.62
                                                   
                                                           
 Currencies                               daily %     YTD %
                                           change    change
                                 Latest            
 Brazil real                     3.4752      0.23     -4.68
                                                   
 Mexico peso                    18.7755      0.40      4.84
                                                   
 Chile peso                      602.25      0.29      2.06
                                                   
 Colombia peso                  2814.96     -0.06      5.93
 Peru sol                         3.236     -0.03      0.03
                                                   
 Argentina peso (interbank)     20.5200     -1.27     -9.36
                                                   
 Argentina peso (parallel)        20.63     -0.34     -6.79
                                                   
 
 (Reporting by Michael O'Boyle; editing by Grant McCool)
  
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