April 30, 2018 / 4:23 PM / 5 months ago

EMERGING MARKETS-Latin American equities follow Wall St higher amid light trading

    SAO PAULO, April 30 (Reuters) - Latin American markets
gained modestly on Monday as a positive morning session on Wall
Street and solid corporate earnings proved enough to put the
region in the black amid light trade.
    Tuesday is the Labour Day holiday across Latin America, and
markets in Argentina are closed Monday as well. Many traders in
Sao Paulo and Rio de Janeiro were off on Monday, and those in
the office said liquidity was low.
    "A lot of players are just bridging the weekend with the
holiday," said one manager at a brokerage in Rio.
    Alexandre Soares, a trader at Sao Paulo-based BGC Liquidez,
said trading volume in Brazil on Monday should come in at around
5 billion reais ($1.43 billion), less than half the average.
    In that context, Latin American markets were buoyed by a
solid early session on Wall Street, which benefited from a
string of mergers and strong earnings. Marathon Petroleum
 said it would buy rival Andeavor for more than
$23 billion, while Sprint Corp T-Mobile US Inc
said they would merge.
    In Brazil, the country's largest electronics retailer Via
Varejo SA, was among the biggest gainers, rising 1.7
percent as traders bought back in following a series of sessions
in the red amid lukewarm results last week.
    Planemaker Embraer SA weighed on the country's
benchmark Bovespa index, falling 3 percent after posting
a loss on Friday amid weak deliveries.
    The equities market in copper-dependent Chile was the best
performing on Monday as prices for the red metal edged
up on expectations of higher demand from top consumer China. A
report showed a resilient Chinese economy despite a monthly
decline in manufacturing activity.
    By early afternoon, Chile's benchmark IPSA index
climbed 0.6 percent, while Mexico's IPC gained 0.3
percent. The Bovespa was down 0.2 percent after spending most of
the morning modestly in the black.
    The Dow Jones Industrial Average Index was up 0.2
percent.
    
Key Latin American stock indexes and currencies at 1519 GMT:
    
    
 Stock indexes                           daily %     YTD %
                             Latest       change    change
 MSCI Emerging Markets         1165.42      0.79     -0.19
                                                  
 MSCI LatAm                    2997.19     -0.48      6.49
                                                  
 Brazil Bovespa               86278.75     -0.19     12.93
                                                  
 Mexico IPC                   48471.04      0.39     -1.79
                                                  
 Chile IPSA                    5721.87      0.55      2.83
                                                  
 Chile IGPA                   28744.61      0.57      2.73
                                                  
 Argentina MerVal             30006.35      1.76     -0.20
                                                  
 Colombia IGBC                12451.77      0.24      9.51
                                                  
 Venezuela IBC                22632.15      1.13   1691.74
                                                  
                                                          
 Currencies                              daily %     YTD %
                                          change    change
                                Latest            
 Brazil real                    3.4857     -0.70     -4.95
                                                  
 Mexico peso                   18.7655     -0.77      4.97
                                                  
 Chile peso                      611.8     -0.78      0.47
                                                  
 Colombia peso                 2802.22      0.07      6.42
 Peru sol                        3.244     -0.25     -0.22
                                                  
 Argentina peso                20.5350      0.07     -9.42
 (interbank)                                      
                                                  
 Argentina peso                  20.83     -0.72     -7.68
 (parallel)                                       
                                                  
 

 (Reporting by Gram Slattery and Paula Arend Laier
Editing by Jeffrey Benkoe)
  
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