Brazil markets rebound on election poll, Latam stocks rise

(Updates prices)
By Bruno Federowski
BRASILIA, Sept 12 (Reuters) - Brazilian markets rebounded on
Wednesday after a poll showed far-right presidential candidate
Jair Bolsonaro slightly gaining strength in a second-round vote,
driving bargain-hunting following a deep selloff.
The benchmark Bovespa stock index rose almost 1
percent, led by blue chips such as oil company Petróleo
Brasileiro SA, lender Banco Bradesco SA
and power utility Centrais Elétricas Brasileiras SA.
The Brazilian real firmed slightly after slipping 1.5
percent the day before.
Bolsonaro, who was stabbed at a campaign event last week,
has tapped a University of Chicago-trained banker as his main
economic advisor. Investors had hoped Bolsonaro would benefit
from a sympathy vote, reducing the likelihood that leftist
rivals Fernando Haddad or Ciro Gomes would win this year's vote.

Other markets in Latin America also edged up as investors
took a breather from recent losses stemming from escalating
trade tensions between the United States and other countries.
Currencies from Mexico, Chile and Colombia
firmed between 0.7 and 1.3 percent.
Stock indexes across the region rose.

Key Latin American stock indexes and currencies at 1955 GMT:
Stock indexes daily % YTD %
change change
MSCI Emerging Markets 1006.51 0.32 -13.39

MSCI LatAm 2428.01 2.06 -15.88
Brazil Bovespa 75373.40 0.96 -1.35
Mexico IPC 49253.62 0.73 -0.20
Argentina MerVal 29760.12 2.05 -1.02
Colombia IGBC 12353.22 2.53 8.64
Venezuela IBC 334860.22 -0.79 26410.14

Currencies daily % YTD %
change change
Brazil real 4.1491 0.10 -20.14

Mexico peso 19.0480 0.76 3.42

Chile peso 687.9 1.24 -10.65
Colombia peso 3043.95 1.18 -2.04
Peru sol 3.33 0.12 -2.79

Argentina peso (interbank) 38.2000 -0.63 -51.31

Argentina peso (parallel) 37.5 2.67 -48.72

(Reporting by Bruno Federowski and Christine Murray; Editing by
Will Dunham and Phil Berlowitz)

First Published: 2018-09-12 16:58:55
Updated 2018-09-12 22:31:56

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