Yahoo Finance EMERGING MARKETS-Mexico peso rebounds from record low, Brazil stocks jump
SAO PAULO, Jan 12 (Reuters) - Mexico's peso strengthened on Thursday, rebounding from a fresh historic low hit in the previous session after President-elect Donald Trump warned U.S. auto companies would face a high tax for products made south of the border.
The peso closed at 21.8 per dollar, up 0.27 percent on Wednesday's reference price. Mexico's stock exchange also gained 0.28 percent, helped by a rise in shares in miner Grupo Mexico and cement company Cemex.
The U.S. dollar hit its lowest level in five weeks against a basket of currencies, pulling back from a high on Wednesday after investors were disappointed that Trump did not offer more details on fiscal spending and tax measures that could lift U.S. growth.
Brazilian stocks also rose as traders wagered that lower interest rates could boost economic activity and lift corporate earnings.
Higher prices of oil and iron ore also boosted shares of blue-chip oil company Petróleo Brasileiro SA and miner Vale SA, fanning a rally of the benchmark Bovespa stock index.
The Brazilian real strengthened 0.5 percent, tracking a global pickup in appetite for emerging market assets.
Key Latin American stock indexes at 2148 GMT: Stock indexes Latest Daily YTD pct pct change change MSCI Emerging Markets 896.64 1.12 3.99 MSCI LatAm 2,442.93 2.89 4.37 Brazil Bovespa 63,953.93 2.41 6.19 Mexico IPC 46,060.98 0.28 0.92 Chile IPSA 4,234.95 0.59 2.01 Chile IGPA 21,103.91 0.52 1.78 Argentina MerVal 18,591.28 0.66 9.89 Colombia IGBC 10,243.14 -0.42 1.14 Venezuela IBC 31,143.02 -4.87 -1.77 (Reporting by Bruno Federowski, Gabriela Mello and Paulina Osorio Perez, editing by G Crosse)
