(Updates with final prices)
By Bruno Federowski
SAO PAULO, Nov 29 Latin American stocks fell on
Tuesday and currencies trended lower as prices of oil and
industrial metals dropped, fostering global aversion to risk.
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 at one point
before closing 0.32 percent lower. The Mexican peso
fell as much as 0.5 percent, but pared losses to end flat.
Only the Chilean peso strengthened in the region,
edging up 0.24 percent.
Industrial metals have had a boost this month from U.S.
President-elect Donald Trump's pledges of heavy spending on
infrastructure, but some investors worried the recent advance
could be overdone.
Common shares in Brazilian miner Vale SA dropped
over 4 percent, while shares in state oil company Petrobras
tumbled more than 5 percent, leading a sharp drop in
the country's benchmark Bovespa stock index.
Vale shares have advanced more than 27 percent so far this
month, compared to a 6-percent drop in Brazil's benchmark index.
Concerns that Trump's policies could force the Federal
Reserve to raise U.S. interest rates faster than expected have
weighed on appetite for emerging market equities.
A stronger-than-expected report on U.S. third-quarter Gross
domestic product growth supported expectations that the Fed
could hike as soon as December, driving Latin American
currencies to session lows.
Key Latin American stock indexes & currencies at 0010 GMT:
Stock indexes Latest Daily YTD
MSCI Emerging Markets 858.47 -0.54 8.1
MSCI LatAm 2,287.08 -1.93 24.99
Brazil Bovespa 60,986.52 -2.97 40.68
Mexico IPC 45,372.19 -0.22 5.57
Chile IPSA 4,174.29 -0.68 13.43
Chile IGPA 20,869.21 -0.6 14.97
Argentina MerVal 17,042.18 -0.73 45.97
Colombia IGBC 9,421.92 -1.7 10.23
Venezuela IBC 31,226.01 7.57 114.05
Currencies Latest Daily YTD
Brazil real 3.3972 -0.09 16.18
Mexico peso 20.6225 0.00 -16.45
Chile peso 673.2 0.24 5.42
Colombia peso 3,161 -0.32 0.29
Peru sol 3.416 -0.06 -0.06
Argentina peso (interbank) 15.685 -0.99 -17.23
Argentina peso (parallel) 16.05 -0.06 -11.09
(Reporting by Bruno Federowski, editing by G Crosse)