EMERGING MARKETS-Brazil markets seesaw; all eyes on pension reform...

"Augustus" (2018-02-21)

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By Bruno Federowski SAO PAULO, Dec 6 (Reuters) - Brazilian markets seesawed on Wednesday as the government rushed to gather lawmaker support for a plan to streamline the social security system and curb government debt.
A senior lawmaker in the government's coalition in the lower Brasileirinhas house said he expected to have enough votes to pass the constitutional amendment later on Wednesday, paving the way for a vote next Tuesday. Per his count, the bill had the support of about 260 votes, well short of the 308 votes needed to pass the lower house.

"The market sees the government's efforts to put the pension reform to vote this year as positive, but nothing's set in stone so there's reason to be wary," said Felipe Pellegrini, a manager at Banco Confidence. The Brazilian real slipped 0.1 percent, while the benchmark Bovespa stock index fell 0.5 percent.
Shares of Centrais Elétricas Brasileiras SA were the biggest decliners on the index as traders feared the privatization of the state-owned power utility could take longer than expected. Wood pulpmaker Fibria SA jumped 5.3 percent after the company forecast a 60 percent increase in investments next year.

The Mexican peso slipped 0.7 percent after data showed strong job creation in the U.S. manufacturing sector, which drove some expectations of faster-than-expected interest rate hikes by the Federal Reserve in coming months that could drain funds away from emerging markets.
The figures came ahead of the U.S. Labor Department's more comprehensive non-farm payrolls report on Friday, which includes both public and private-sector employment. Key Latin American stock indexes and currencies at 1540 GMT: Stock indexes daily % YTD % Latest change change MSCI Emerging Markets 1099.10 -1.66 29.62 MSCI LatAm 2719.01 -0.88 17.2 Brazil Bovespa 72171.14 -0.52 19.83 Mexico S&P/BVM IPC 47213.47 -0.53 3.44 Chile IPSA 4901.02 -0.49 18.06 Chile IGPA 24681.98 -0.51 19.04 Argentina MerVal 26243.39 -0.9 55.12 Colombia IGBC 10818.24 -0.19 6.81 Venezuela IBC 1346.17 0.02 -95.75 Currencies daily % YTD % change change Latest Brazil real 3.2370 -0.10 0.38 Mexico peso 18.8910 -0.66 9.81 Chile peso 653.62 0.00 2.61 Colombia peso 3005.49 -0.45 -0.13 Peru sol 3.237 0.00 5.47 Argentina peso (interbank) 17.2500 0.26 -7.97 Argentina peso (parallel) 17.9 0.34 -6.03 (Reporting by Bruno Federowski; Editing by Meredith Mazzilli)

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