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EMERGING MARKETS-Brazil's Bovespa steady on cautious buying after November decline
December 1, 2017 / 3:25 PM / 13 days ago

EMERGING MARKETS-Brazil's Bovespa steady on cautious buying after November decline

    SAO PAULO, Dec 1 (Reuters) - Brazil's Bovespa equities index
was steady on Friday, dipping just slightly as some investors
sought buying opportunities among stocks that swooned about 3
percent in the last three sessions on doubts about whether
Congress would pass a proposed overhaul of the country's
pensions.
    In recent days, investors and analysts have focused on
attempts by President Michel Temer to whip up the votes he needs
in Congress to pass the pension bill, seen as vital to
bolstering the nation's fiscal health.
    The Bovespa declined 3.4 percent in the month of November as
the bill was watered down and lawmakers were hesitant to support
the process ahead of an election year. 
    On Friday, investors were more hopeful about the legislative
effort as Temer was due to meet this weekend with Geraldo
Alckmin, the governor of São Paulo state and a key figure in the
Brazilian Social Democracy Party, which would be an important
partner in the pension debate.
    Brazil's Bovespa index ticked down 0.12 percent by
mid-afternoon, while the real jumped 0.24 percent.
    Across Latin America, equity and currency markets were
relatively steady.
    Argentina's Merval and peso currency posted some of
the more dramatic gains as institutional investors made select
purchases on the relatively small index.
    Energy utilities in Argentina lead gains after the
government said it would hike regulated gas and electricity
rates as it slowly removes subsidies from the market.
    The Merval rose 0.18 percent, and the peso jumped
1.17 percent.
    Chile's peso continued to lose ground amid investor
jitters over a tight presidential election scheduled for Dec.
19.
    
    
Key Latin American stock indexes and currencies at 1445 GMT:   

 MSCI Emerging Markets           1115,70     -0,45     29,98
                                                    
 MSCI LatAm                      2711,41     -0,29     16,18
                                                    
 Brazil Bovespa                 71883,45     -0,12     19,35
                                                    
 Mexico S&P/BVM IPC             46953,60     -0,29      2,87
                                                    
 Chile IPSA                      5012,34      0,18     20,74
                                                    
 Chile IGPA                     25216,57       0,2     21,62
                                                    
 Argentina MerVal               26953,26      0,18     59,32
                                                    
 Colombia IGBC                  10796,61     -0,11      6,60
                                                    
 Venezuela IBC                   1331,27      0,86    -95,80
                                                    
                                                            
 Currencies                                daily %     YTD %
                                            change    change
                                  Latest            
 Brazil real                      3,2631      0,24     -0,43
                                                    
 Mexico peso                     18,6865     -0,30     11,01
                                                    
 Chile peso                       651,11     -0,63      3,01
                                                    
 Colombia peso                   3003,77      0,27     -0,08
 Peru sol                          3,233      0,00      5,60
                                                    
 Argentina peso (interbank)      17,2500      0,35     -7,97
                                                    
 Argentina peso (parallel)         17,91      1,17     -6,09
                                                    
 
 (Reporting by Gram Slattery; Editing by David Gregorio)
  

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