April 30, 2019 / 3:17 PM / 3 months ago

EMERGING MARKETS-Most Latam stocks, FX drop; assets in Argentina resolute

    By Aaron Saldanha
    April 30 (Reuters) - Most Latin American stocks and
currencies fell on Tuesday, with assets in Argentina the
exception, a day after the country's central bank said it would
ease limits on its interventions in the currency market.
    Investor appetite for risk diminished across the region
after Venezuelan opposition leader Juan Guaidó called on the
nation's  military and civilians to seek the "definitive end" of
President Nicolás Maduro's government. 
    MSCI's index of Latin American stocks fell
0.7%, on the back of declines in Mexico and Brazil, whose stocks
have the largest weighting on the benchmark.
    However, the likelihood of dollar sales signaled by
Argentina's central bank on Monday, as it aims to temper
volatility in the peso, continued to support the currency on
Tuesday and underpin sentiment towards assets in the country.   
 
    Argentina's stocks benchmark gained 1.1% to make
back some ground lost during Monday's 3.9% slide. 
    The peso was 1.3% firmer and was on track for its
best two-day showing in nearly seven months, with a 5% gain.
    Brazil's real softened 0.3% and stocks
slipped 0.2%, largely on a lack of new developments around the
progress of a proposal to reform the pension system.    
    Mexico's peso - one of the developing world's most
liquid currencies - gave up initial gains to trade a shade
lower. The country's economy, Latin America's second largest, 
shrank 0.2% in the first quarter, preliminary data showed.

    Stocks were down 1.2% after hitting their lowest
level in more than three weeks, with America Movil
shares tumbling 4.9% after the telecommunications provider
posted first-quarter results that displeased investors.  
    Grupo Financiero Banorte SAB de CV was 3.4%
lower after a 47% rise in first quarter net profit it posted
late on Monday failed to cheer the lender's investors
sufficiently.
    Chile's peso fell 0.3%, while stocks
slipped 0.1%.    
    Colombia's peso, a currency loosely correlated with
oil prices by virtue of the country's energy exports, firmed
0.4% as energy prices jumped on the turmoil in Venezuela, the
country with the world's largest petroleum reserves.    
    
  Latin American stock indexes and currencies at 1426 GMT:
 
    Stock indexes             Latest    Daily %
                                         change
 MSCI Emerging Markets         1078.98     -0.36
                                        
 MSCI LatAm                    2742.47     -0.69
                                        
 Brazil Bovespa               96042.81     -0.15
                                        
 Mexico IPC                   44428.37     -1.18
                                        
 Chile IPSA                    5163.57     -0.12
                                        
 Argentina MerVal             29147.23      1.11
                                        
 Colombia IGBC                12781.38     -0.71
                                        
                                                
       Currencies             Latest    Daily %
                                         change
 Brazil real                    3.9485     -0.21
                                        
 Mexico peso                   19.0365     -0.12
                                        
 Chile peso                      680.2     -0.10
                                        
 Colombia peso                  3231.2      0.53
 Peru sol                        3.305      0.15
                                        
 Argentina peso                43.7500      1.42
 (interbank)                            
                                        
 

 (Reporting by Aaron Saldanha in Bengaluru)
  
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