By Bruno Federowski
SAO PAULO, Nov 22 Brazilian stocks rose on
Tuesday as hopes of higher prices of basic products lifted
shares of miners, steelmakers and pulp producers.
Brazil's benchmark Bovespa stock index was 2.2
percent higher, rising for the third straight day.
Preferred shares of Suzano Papel e Celulose SA
led the gains after the company agreed to increase prices of its
pulp exports to China by 3.8 percent beginning in December.
Rival Fibria Celulose SA later said it would also
raise prices for the Asian market.
Shares of miners and steelmakers, such as Cia Siderúrgica
Nacional SA and Vale SA, also extended
their rally. Many traders hope heavy infrastructure spending
under U.S. President-elect Donald Trump translates into higher
prices of industrial metals.
An index tracking shares of producers of basic products
listed on the São Paulo stock exchange reached a nearly
Most Latin American currencies were slightly higher,
extending their rebound from a selloff triggered by Trump's
surprise victory this month. The Mexican peso firmed
0.3 percent on the back of higher crude prices.
Key Latin American stock indexes and currencies at 1420 GMT:
Stock indexes daily % YTD %
MSCI Emerging Markets 859.05 1.37 6.71
MSCI LatAm 2342.61 1.55 26.07
Brazil Bovespa 62395.87 2.17 43.94
Chile IPSA 4244.29 0.25 15.33
Chile IGPA 21188.67 0.22 16.73
Venezuela IBC 25906.45 -1.78 77.58
Currencies daily % YTD %
Brazil real 3.3476 0.06 17.91
Mexico peso 20.3895 0.30 -15.50
Chile peso 673.55 0.11 5.37
Colombia peso 3135.49 0.34 1.08
Argentina peso (interbank) 15.3650 0.15 -15.51
Argentina peso (parallel) 15.77 0.51 -9.51
(Reporting by Bruno Federowski; Editing by Lisa Von Ahn)