Please use symbol entry at top right of page to search

EMERGING MARKETS-Latam stocks, FX lag EM peers this month

      Chile copper output up 2.2% in October

      Brazil's jobless rate drops to 8.3%, below forecasts

      Peru opposition launch 3rd impeachment attempt against

      EM stocks set for best monthly performance since 2009

    By Bansari Mayur Kamdar
       Nov 30 (Reuters) - The Chilean peso rose on Wednesday
after the top copper producer reported its first rise in output
for the metal since July 2021, while Latin American stocks and
currencies lagged the sharp recovery in their emerging market
counterparts this month.
    The MSCI's index for Latin American stocks
rose 0.7% and currencies were flat on Wednesday.
    Latam stocks were down 2.2% in November compared to the
14.5% jump in broader EM stocks index that has put the
latter on track for their best month since May 2009.
    While Latam currencies have slightly extended their gains in
November helped by a softer dollar, weakness in the Brazilian
real has weighed on the index.
    The real fell 0.4% against the dollar on Wednesday and was
down 2% so far this month.
    "Real had a good run for a while before November, tons of
volatility ahead and after elections," said Juan Perez, director
of trading at Monex USA in Washington.
    "Now, overall it seems underlying prices of commodities and
planning for production are coming down in costs."
    Brazil's jobless rate fell to 8.3% in the three months
through October, statistics agency IBGE said, below market
expectations as the key indicator continues to hover around
seven-year lows.
    Chile's peso added 0.5% against the dollar. Copper
output in Chile, the world's largest producer of the metal, rose
2.2% year-on-year to 485,447 tonnes in October, said the
country's statistics agency INE.
    Peru's sol also climbed 0.4% against the dollar in
early trading. Political turmoil continues to weigh as
opposition legislators presented another impeachment motion
against President Pedro Castillo, the third formal attempt to
oust the leftist leader since he took office last year.
    Mexico's peso slipped 0.5% against the dollar.
President Andres Manuel Lopez Obrador said he is seeking a deal
with Washington after the United States threatened legal action
over Mexico's plan to ban genetically modified (GMO) corn in
    Colombia's peso rose 0.1% with stronger crude prices
boosting the oil producer's currency.
    Key Latin American stock indexes and currencies at 1456 GMT:
        Stock indexes                  Latest       Daily %
 MSCI Emerging Markets                     971.69        1.97
 MSCI LatAm                               2200.21        0.76
 Brazil Bovespa                         112032.33        1.01
 Mexico IPC                              50718.01        1.08
 Chile IPSA                               5231.89       -0.25
 Argentina MerVal                       170045.39         1.1
 Colombia COLCAP                          1246.61       -0.14

           Currencies                  Latest       Daily %
 Brazil real                               5.2850        0.05
 Mexico peso                              19.3251       -0.56
 Chile peso                                 891.5        0.95
 Colombia peso                            4801.43        0.10
 Peru sol                                  3.8391        0.26
 Argentina peso (interbank)              167.2600       -0.17

 Argentina peso (parallel)                    310        1.61

 (Reporting by Bansari Mayur Kamdar in Bengaluru;Editing by
Elaine Hardcastle)

Copyright © Reuters 2008. All rights reserved. Republication or redistribution of Reuters content, including by caching, framing or similar means, is expressly prohibited without the prior written consent of Reuters. Reuters and the Reuters sphere logo are registered trademarks and trademarks of the Reuters group of companies around the world.

News, commentary and research reports are from third-party sources unaffiliated with Fidelity. Fidelity does not endorse or adopt their content. Fidelity makes no guarantees that information supplied is accurate, complete, or timely, and does not provide any warranties regarding results obtained from their use.