February 19, 2018 / 5:10 PM / 4 months ago

EMERGING MARKETS-Brazil stocks up on corporate newsflow; trading volumes thin

    By Bruno Federowski
    SAO PAULO, Feb 19 (Reuters) - Brazilian stocks rose on
Monday on thin trading volumes following a heavy batch of
corporate updates.
    The benchmark Bovespa stock index rose 0.3 percent,
supported by shares of state-controlled oil company Petróleo
Brasileiro SA on the heels of rising crude prices.
    Shares in electronics and appliance retailer Via Varejo SA
 rose 1.1 percent following solid fourth-quarter
earnings figures.
    Fibria Celulose SA and Suzano Papel e Celulose SA
 also jumped after the wood pulp producers confirmed
talks over "alternative strategies." A newspaper had reported on
Friday that the companies were discussing a potential merger.

    Insurance firm BB Seguridade SA, however, dropped
3 percent as the biggest decliner on the index after a large
decline in fourth-quarter profit.
    In a conference call, management said raising profit will
continue to be a challenge this year as interest rates reach
their lowest level ever in the country.
    Other Latin American markets seesawed as many traders were
away for the U.S. Presidents Day holiday. The Brazilian real
 was down 0.2 percent, while the Mexican peso was
nearly unchanged.
    
    Key Latin American stock indexes and currencies at 1655 GMT:
 Stock indexes                                daily %    YTD %
                                               change   change
                                   Latest              
 MSCI Emerging Markets              1202.43      0.23     3.56
 MSCI LatAm                         3116.47      0.19     9.98
 Brazil Bovespa                    84740.31      0.26    10.91
 Mexico IPC                        49030.67       0.3    -0.66
 Chile IPSA                         5623.03      0.02     1.05
 Chile IGPA                        28305.61      0.04     1.16
 Argentina MerVal                  33093.97      1.28    10.07
 Colombia IGBC                     11712.17     -0.12     3.00
                                                              
 Currencies                                   daily %    YTD %
                                               change   change
                                                       
                                     Latest            
 Brazil real                         3.2271     -0.21     2.67
 Mexico peso                        18.5100      0.05     6.42
 Chile peso                           594.6     -0.24     3.37
 Colombia peso                      2833.25      0.03     5.25
 Peru sol                              3.25      0.00    -0.40
 Argentina peso (interbank)         19.7600     -0.46    -5.87
                                                       
 Argentina peso (parallel)            20.13     -1.09    -4.47
                                                       
 
 (Reporting by Bruno Federowski; Editing by Frances Kerry)
  
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