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EMERGING MARKETS-Brazil currency, stocks slip on reform doubts
2017年4月10日 / 下午5点11分 / 7 个月前

EMERGING MARKETS-Brazil currency, stocks slip on reform doubts

    SAO PAULO, April 10 (Reuters) - Brazil's currency and stocks
declined on Monday, reflecting lingering uncertainty over the
passage of a proposed pension reform and the impact of sliding
iron ore prices in China.
    Brazil's real weakened as much as 0.2 percent to
3.14150 reais in midday Monday trading. The benchmark Bovespa
stock index fell for the third day in four sessions.
    Investors are gauging the difficulty of passing a pension
reform to cut social security expenses by 700 billion reais
($223 billion) over the next decade. In recent days, informal
polls by local media have indicated a lack of congressional
support for the plan, which senior government officials are
trying to downplay.
    Expectations that the central bank will cut its benchmark
Selic overnight lending rate by a full percentage point on
Wednesday have been offset by a wait-and-see approach to the
reform agenda, the cornerstone of President Michel Temer's plan
to pull Brazil from its worst economic recession on record.
    "There was no progress in the pension reform process since
the last interest-rate meeting" almost 45 days ago, said a
research report by Itaú BBA, noting that "resistance in Congress
seems to be growing."
    Preferred shares of Itaú Unibanco Holding SA, the
stock with the largest weighting in the Bovespa, fell 0.6
percent. The bank won a 25 billion-real ($8 billion) tax case
with the government on Monday, although it can be appealed by
tax agency officials.
    Preferred shares of Vale SA, the world's No. 1
iron ore producer, shed 1.3 percent to 27.20 reais, near a
two-week low, as prices for the mineral fell in China.
    Key Latin American stock indexes and currencies at 1655 GMT:
 Stock indexes                              daily %     YTD %
                               Latest        change    change
 MSCI Emerging Markets              957.68    -0.41     11.52
 MSCI LatAm                        2637.26    -0.42     13.14
 Brazil Bovespa                64404.66404    -0.29      6.94
 Mexico IPC                       49207.34    -0.28      7.81
 Chile IPSA                        4886.97    -0.03     17.72
 Chile IGPA                       24484.02     0.04     18.09
 Argentina MerVal                 20860.67     0.64     23.31
 Colombia IGBC                    10202.83     0.26      0.74
 Venezuela IBC                     45387.6    -1.36   1076.23
 Currencies                                 daily %     YTD %
                                             change    change
 Brazil real                        3.1428     0.19    -15.44
 Mexico peso                       18.6625    -0.13    -21.00
 Chile peso                          652.8     0.41     -7.11
 Colombia peso                     2869.65    -0.40    -16.78
 Peru sol                            3.245     0.00     -8.20
 Argentina peso (interbank)        15.3000     0.33    -44.12
 Argentina peso (parallel)           15.58     0.71    -10.14
    ($1 = 3.14 reais)

 (Reporting by Guillermo Parra-Bernal and Claudia Violante;
Editing by Dan Grebler)

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