Brazil stocks ease off record highs; Latam FX dips

Jan 15 (Reuters) - Brazil's benchmark stock index eased off
record-high levels in see-saw trade on Tuesday as banking shares
slipped but the retail sector notched robust gains, while most
Latin American currencies dipped against a strong dollar.
Sao Paulo's benchmark index Bovespa, which has hit
more than six record highs since the beginning of this year,
fell 0.1 percent as banking stocks weighed with Itau Unibanco
Holding <SA ITUB4.SA> and Banco Bradesco leading
Financial shares declined after U.S. banking firm JP Morgan
reported lower-than-expected quarterly profits, blaming
a slump in bond trading.
The index see-sawed with robust gains from retail stocks led
by Via Varejo, offsetting further losses after data
showed the country's retail sales for November was the best in
18 years.
The U.S. dollar strengthened against the euro after
disappointing German growth data underscored fears about a
broader slump in Europe.
Brazil's real and Chile's peso weakened about
0.1 percent. Mexico's peso was also down slightly in
choppy trade, after rising on Monday to its strongest against
the dollar in nearly three months.
The peso had rebounded from losses suffered after President
Manuel Lopez Obrador rocked markets before taking office on Oct.
29, saying he would cancel a partly built $13 million airport.

But the currency came under pressure after several
economists and the central bank in Mexico have warned the
economy could contract in January due to a slowdown in activity
caused by the fuel shortage.
The head of Mexico's National Farm Council said major farm
and ranching businesses reported losses of at least $290 million
as lack of fuel to transport products resulted in delayed
shipments and spoiled supplies.

Key Latin American stock indexes and currencies at 1415 GMT

Stock indexes daily %
Latest change
MSCI Emerging Markets 1003.43 1.08

MSCI LatAm 2840.38 0.24

Brazil Bovespa 94416.85 -0.01

Mexico IPC - -

Chile IPSA 5358.37 0.02

Argentina MerVal - -

Colombia IGBC - -

Currencies daily %
Brazil real 3.6998 -0.04

Mexico peso 18.9816 -0.03

Chile peso 672.9 -0.04

Colombia peso - -
Peru sol - -

Argentina peso (interbank) - -

(Reporting by Agamoni Ghosh in Bengaluru; Editing by)

2019-01-15 17:00:23

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