By Bruno Federowski
SAO PAULO, Nov 29 Latin American stocks and
currencies mostly fell on Tuesday as prices of oil and
industrial metals dropped, fostering worldwide risk aversion.
Oil prices tumbled on signs leading oil exporters were
struggling to reach a deal to cut output and curb global
The Colombian peso weakened 0.7 percent. The Mexican
peso fell as much as 0.5 percent but later pared back
losses to trade 0.1 percent lower.
Traders also avoided currencies from metal exporters, such
as the Chilean peso, as prices of industrial metals
slumped on profit-taking following a recent rally.
Industrial metals have gotten a boost this month from U.S.
President-elect Donald Trump's pledges of heavy infrastructure
spending but some investors worried the recent advance could be
Common shares in Brazilian miner Vale SA dropped
over 6 percent, leading losses in the country's benchmark
Bovespa stock index.
The stock has advanced 32 percent so far this month,
compared to a 5-percent drop in the benchmark index.
Concerns that Trump's policies could force the U.S. Federal
Reserve to raise rates faster than expected have weighed on
appetite for emerging market equities.
A stronger-than-expected report on third-quarter U.S. gross
domestic product growth (GDP) supported expectations that the
Fed could hike as soon as December, driving Latin American
currencies to the session low.
Key Latin American stock indexes and currencies at 1510 GMT:
Stock indexes daily % YTD %
MSCI Emerging Markets 859.05 -0.48 8.69
MSCI LatAm 2304.94 -1.17 27.45
Brazil Bovespa 61766.43 -1.73 42.48
Mexico IPC 45438.47 -0.07 5.73
Chile IPSA 4190.84 -0.28 13.88
Chile IGPA 20947.51 -0.23 15.40
Argentina MerVal 16895.45 -1.59 44.71
Colombia IGBC 9533.36 -0.53 11.54
Venezuela IBC 31068.18 7.03 112.97
Currencies daily % YTD %
Brazil real 3.4066 -0.66 15.86
Mexico peso 20.6520 -0.14 -16.57
Chile peso 675.3 -0.07 5.09
Colombia peso 3171.99 -0.69 -0.09
Peru sol 3.423 -0.20 -0.26
Argentina peso (interbank) 15.5400 0.06 -16.46
Argentina peso (parallel) 16.06 0.19 -11.15
(Reporting by Bruno Federowski; Editing by Nick Zieminski)