April 15, 2019 / 2:56 PM / 2 months ago

EMERGING MARKETS-Brazilian assets recover; Mexico's peso, stocks fall

    April 15 (Reuters) - Brazil's real and shares rose on
Monday, recovering after declines last week, while the
currencies of oil exporters such as the Mexican and Colombian
pesos weakened as crude prices dipped.
    The real firmed 0.5 percent in early trading before
surrendering the gain to trade flat against a weaker dollar,
while the Bovespa stock index rose for the first time in
four days with a gain of 0.3 percent.
    A rebound in shares of state oil firm Petroleo Brasileiro SA
, which fell more than 7 percent on Friday,
provided the biggest boost for the Bovespa index. 
    Petrobras, as the company is commonly know, slumped after it
canceled a diesel price hike in the wake of Brazilian President
Jair Bolsonaro's call for "fair" prices out of concern for
truckers, spooking investors wary of political interference at
the state-run oil firm.
    Shares of iron ore miner Vale, however, dragged
heavily on the index after a report that its decision to halt
production at 10 sites in Minas Gerais state following a deadly
dam disaster has affected deliveries of iron ore pellets to
clients.
    Ecorodovias fell almost 3 percent after the
federal police on Friday carried out search-and-seizure warrants
at its indirect subsidiary Eco 101.
    Pension reforms were also a focus in Brazil, with investors
monitoring a congressional committee which may begin discussing
the changes on Monday. 
    Meanwhile, currencies in Mexico and Colombia
slipped as oil prices fell on signals that Russia may exit
production cuts.
    Analysts at Metanalysis also pointed to some profit-taking
in the Mexican peso, which has gained for six of the past eight
sessions. 
    Shares in Mexico City slumped 0.7 percent, tracking a
dip in world stocks as Wall Street fell on Goldman Sachs'
disappointing results.
    Stock indices in Chile and Colombia made small gains. 
    
    Key Latin American stock indexes and currencies at 1435 GMT:
    Stock indexes             Latest    Daily %
                                         change
 MSCI Emerging Markets         1086.47     -0.24
                                        
 MSCI LatAm                    2751.90     -0.32
                                        
 Brazil Bovespa               93151.09       0.3
                                        
 Mexico IPC                   44513.85     -0.39
                                        
 Chile IPSA                    5240.58      0.02
                                        
 Argentina MerVal             31517.64      0.51
                                        
 Colombia IGBC                13130.80      0.01
                                        
                                                
       Currencies             Latest    Daily %
                                         change
 Brazil real                    3.8781      0.24
                                        
 Mexico peso                   18.8372     -0.46
                                        
 Chile peso                      662.5     -0.26
                                        
 Colombia peso                 3128.25     -0.49
 Peru sol                        3.298     -0.03
                                        
 Argentina peso                41.3500      2.06
 (interbank)                            
                                        
 

 (Reporting by Susan Mathew in Bengaluru
Additional reporting by Noé Torres in Mexico City
Editing by Paul Simao)
  
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