EMERGING MARKETS-Mexican shares end 2017 with best performance in 5 years

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2017-12-30 01:09:36

    By Anthony Esposito
    MEXICO CITY, Dec 29 (Reuters) - Mexican shares posted their
biggest gains in five years in 2017 as concerns about potential
damage from U.S. Donald Trump's policies waned, while Chilean
stocks had their best performance since 2010 following the
election of a pro-business president.
    Mexico's S&P/BMV IPC rose 1.01 percent on Friday, as
strong corporate earnings helped the index increase 8.1 percent
overall in 2017 despite concerns surrounding the ongoing talks
to revamp the North American Free Trade Agreement (NAFTA), a
backbone of Mexico's economy.
    Trading volume was low in the run-up to the New Years
holiday.
    The Mexican peso closed marginally higher on
Friday, capping off its first year of gains since 2012. The peso
pulled off the feat even after sinking 5.7 percent in December,
its worst month since Trump was elected in November 2016.
    For its part, Chile's benchmark IPSA stock index
gained 0.25 percent on the last trading day of the year. It rose
34 percent for the year, boosted by the bigger-than-forecast
electoral win of conservative Sebastian Pinera to the nation's
highest office. Improved prices for Chile's top export copper
also underpinned share prices.
    Argentina's peso currency posted its sharpest single-day
gain since August on Friday, after a loosening of government
inflation targets the prior day sent it tumbling to historic
lows against the U.S. dollar.
    The peso closed up 3.2 percent at 18.65 per
dollar, recovering most of the losses it suffered on Thursday
after the government raised prospects of an interest rate cut by
raising its 2018 inflation target to 15 percent, up from 10
percent previously.
    
    Latin American stock indexes and currencies at 2050 GMT:    
    
 Stock indexes                                daily %     YTD %
                                     Latest    change    change
 MSCI Emerging Markets               1159.40      0.5     33.78
 MSCI LatAm                          2826.99     0.29     20.43
 Brazil Bovespa                     76402.08     0.43     26.86
 Mexico IPC                         49355.81     1.01      8.13
 Chile IPSA                          5564.60     0.25     34.04
 Chile IGPA                         27980.78     0.25     34.95
 Argentina MerVal                   30073.56     0.33     77.76
 Colombia IGBC                      11478.10     0.95     13.33
 Venezuela IBC                       1263.14     0.03    -96.02
                                                               
 Currencies                                   daily %     YTD %
                                               change    change
                                      Latest           
 Brazil real                          3.3141    -0.02     -1.96
 Mexico peso                         19.6590     0.22      5.52
                                                       
 Chile peso                           614.65    -0.02      9.12
 Colombia peso                       2981.79    -0.03      0.66
 Peru sol                              3.237     0.09      5.47
 Argentina peso (interbank)          18.6000     3.49    -14.65
                                                       
 Argentina peso (parallel)             19.23     0.21    -12.53
                                                       
 
 (Reporting by Anthony Esposito; editing by Diane Craft)
  
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