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EMERGING MARKETS-Mexico index rises on bank deal; Brazil's Bovespa dips
December 6, 2017 / 12:52 AM / in 6 days

EMERGING MARKETS-Mexico index rises on bank deal; Brazil's Bovespa dips

 (Updates prices, adds details on Mexican stock index)
    SAO PAULO, Dec 5 (Reuters) - Mexico's S&P/BVM IPC share
index rose 0.64 percent on Tuesday, recovering some
ground after falling last week to its lowest level since March.
    Banorte bank pushed the gains, with its shares
rising 2.60 percent as it announced that shareholders approved
its acquisition of Grupo Financiero Interacciones, a deal that
will create the country's second-biggest bank.     
    The Mexican peso weakened in response to a
strengthening dollar, as the U.S. Congress moved closer to a
major tax overhaul. 
    Brazil's benchmark Bovespa index dipped, with a
still unclear outlook on whether the government would get the
votes needed to pass pension legislation that could boost
Brazil's fiscal health.
    Pension reform has been the dominant factor in the Bovespa's
performance for weeks.
    The index slipped 0.74 percent on Tuesday while the real
currency fell 0.25 percent.
    Rodrigo Maia, the speaker of Brazil's lower house, told
journalists late on Monday that President Michel Temer was still
far from assembling the coalition needed to pass the reform, but
potential supporters were now more organized than last
week.
    Chile's benchmark IPSA index extended recent falls,
dropping 1.78 percent as markets brace for a Dec. 17
second-round presidential vote that will pit investor favorite
ex-President Sebastian Pinera against center-left Alejandro
Guillier.
    Hard-left Beatriz Sanchez formally endorsed Guillier late on
Monday, after claims by Pinera that vote-tampering took place in
the first round were widely criticized.
    The Chilean index's decline has roughly tracked the price of
copper, which on Tuesday suffered its biggest drop in
two years. 
    
Key Latin American stock indexes and currencies at 2152 GMT:
    
 Stock indexes               Latest          Daily   YTD pct
                                               pct    change
                                            change  
 MSCI Emerging Markets          1,117.69     -0.38     29.62
                                                    
 MSCI LatAm                     2,743.19     -0.27      17.2
                                                    
 Brazil Bovespa                72,546.17     -0.74     20.45
 Mexico IPC                    47,462.79      0.64      3.99
 Chile IPSA                     4,925.21     -1.78     18.64
 Chile IGPA                    24,808.21     -1.69     19.65
 Argentina MerVal              26,483.00     -1.31     56.54
                                                    
 Colombia IGBC                 10,838.64      0.27      7.02
 Venezuela IBC                  1,345.89     -4.52    -95.75
                                                            
 Currencies                                  Daily   YTD pct
                                               pct    change
                                  Latest    change  
 Brazil real                      3.2414     -0.25      0.24
 Mexico peso                     18.7670     -0.81     10.53
 Chile peso                       653.65     -0.90      2.61
 Colombia peso                   2,992.1     -0.14      0.31
 Peru sol                          3.237     -0.12      5.47
 Argentina peso (interbank)      17.2800      0.46     -8.13
                                                    
 Argentina peso (parallel)         17.91      0.89     -6.09
                                                    
 
 (Reporting by Gram Slattery and Daina Beth Solomon; Editing by
Andrew Hay and Rosalba O'Brien)
  

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