EMERGING MARKETS-Latam currencies gain as oil prices hit 2-1/2 year high

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  • Stock Market News
EMERGING MARKETS-Latam currencies gain as oil prices hit 2-1/2 year high

(Recasts with Latin American markets)

MEXICO CITY, Jan 3 (Reuters) - Latin American currencies firmed sharply on Wednesday, bolstered by higher oil prices and data showing the global economy was expanding at a healthy clip.

Mexico's peso and the Colombian peso both gained around 1 percent, and Brazil's real firmed more than 0.7 percent as crude prices hit a 2-1/2-year high. O/R

All three countries are oil exporters, whose currencies often track global appetite for crude.

MSCI's emerging market benchmark index .MSCIEF advanced 0.5 percent, touching its strongest level since May 2011.

Markets were buoyed by Tuesday's data showing healthy growth numbers across developed and emerging economies, which also gave a tailwind to commodities. benchmark stock index .BVSP edged higher to notch another record high just below 78,000 points.

Stocks in Latin America's largest economy have been supported by expectations the government could successfully push through a bill to trim social security benefits in a vote slated for February.

"We're going to have some profit-taking at some time," said economist Alvaro Bandeira at brokerage Modalmais. "But the market trend is to go higher and seek out 80,000 points."

Shares in state-run oil company Petrobras PETR4.SA PETR3.SA rose around 1 percent even after the company said it agreed to pay $2.95 billion to settle a U.S. class action corruption lawsuit. of Brazilian planemaker Embraer EMBR3.SA gained 3.8 percent after a local media report that the government could back a tie-up with Boeing (NYSE: BA ) Co BA.N . Latin American stock indexes and currencies at 2215 GMT:

Stock indexes

daily %

YTD %

Latest

change change MSCI Emerging Markets

1184.21

0.53

2.22 .MSCIEF

MSCI LatAm .MILA00000PUS

2918.53

0.3

3.2

Brazil Bovespa

.BVSP

77995.16

0.13

2.09 Mexico IPC

.MXX

49782.23

-0.5

0.87 Chile IPSA

.IPSA

5616.47

-0.04

0.93

Chile IGPA

.IGPA

28227.92

0.03

0.88 Argentina MerVal

.MERV

31476.26

1.26

4.69

Colombia IGBC

.IGBC

11560.94

0.28

1.67

Venezuela IBC

.IBC

1261.93

-0.26 -96.02

Currencies

daily %

YTD %

change change

Latest

Brazil real

BRBY

3.2349

0.74

2.36

Mexico peso

MXN=D2

19.3460

1.0

1.83

Chile peso

CLP=CL

606.8

-0.05

1.29

Colombia peso COP=

2901.76

0.91

2.77 Peru sol

PEN=PE

3.217

0.62

0.62

Argentina peso (interbank)

18.4300

-0.11

0.92 ARS=RASL

Argentina peso (parallel)

19.24

0.05

-0.05 ARSB=

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