July 19, 2019 / 2:50 PM / 5 months ago

EMERGING MARKETS-Bovespa keeps a lid on Latam shares; Currencies slide

    July 19 (Reuters) - Latin American shares were subdued on
Friday as losses in Brazil's Bovespa eclipsed gains made by
other indices, while currencies in the region were mostly lower
against a firm dollar.
    MSCI's index of Latin American stocks was
flat but on track to snap a three-week losing streak.
    Emerging market assets had a good run this week as dovish
comments cementing the hopes of a rate cut later this month from
the U.S. Federal Reserve stirred demand for riskier assets. 
    Heavyweight Sao Paulo-traded stocks led losses, down
0.6% with financials weighing on the benchmark as optimism
stoked by Brazil's pension reform vote faded.
    Investors are now looking forward to the unveiling of an
economic stimulus package on July 24, which was announced by
President Jair Bolsonaro's administration to revive flagging
growth in Latin America's largest economy.    
    Mexican stocks moved 0.4% higher with mining giant
Grupo Mexico providing the biggest boost after
President Andres Manuel Lopez Obrador said he will seek an
agreement with the company before making any "drastic decision"
after a recent spill of sulfuric acid in the Gulf of California.

    Stocks in Chile and Colombia rose between
0.1% and 0.4%, while those in Argentina were flat.
    Most currencies in the region edged lower as the dollar
recovered its overnight losses with Brazil's real
shedding nearly half a percent. Chile's peso slid 0.4%
tracking lower copper prices, the country's main export.  
    Key Latin American stock indexes and currencies at 14:35 GMT
 Stock indexes                                   daily %
                          Latest                  change
 MSCI Emerging Markets            1059.37           0.73
 MSCI LatAm                       2934.47           0.01
 Brazil Bovespa                 104219.26          -0.47
 Mexico IPC                      41857.33           0.57
 Chile IPSA                       5056.90           0.40
 Argentina MerVal                40829.78           0.13
 Colombia IGBC                   12856.19           0.21
 Currencies                                      daily %
                                   Latest         change
 Brazil real                       3.7397          -0.60
 Mexico peso                      19.0330          -0.46
 Chile peso                         686.1          -0.31
 Colombia peso                    3169.45          -0.08
 Peru sol                           3.284           0.06
 Argentina peso                   42.3900           0.15

 (Reporting by Agamoni Ghosh in Bengaluru
Editing by Chizu Nomiyama)
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