By Bruno Federowski
SAO PAULO, Feb 15 (Reuters) - Latin American markets rose on Thursday as global stocks shrugged off recent losses and traded higher, supporting demand for riskier assets.
Currencies and stocks throughout the region rose as global markets recovered from a deep sell-off triggered by figures showing rising U.S. wages.
Some investors fear that increased inflationary pressure could drive the Federal Reserve to increase interest rates faster than expected in coming months, driving away capital from stocks and emerging market assets.
But most licked their wounds in recent days following deep losses last week.
Traders struggled to explain the move, though some said weaker-than-expected U.S. industrial figures helped to drive some bargain-hunting. Others said Asian bears may be squaring up positions for the Lunar New Year. Currencies from Mexico , Chile and Colombia firmed between 0.4 percent and 0.6 percent, while MSCI's Latin American stock index rose 1.7 percent.
Brazil's stock exchange was up 1 percent, supported by a rally in shares of miner Vale SA on the heels of rising iron ore prices.
But the Brazilian real seesawed as traders adjusted their holdings following the long Carnival holiday.
Yields on interest-rate futures fell slightly after minutes from the central bank's latest policy meeting showed policymakers diverged last week over how strongly to hint at the end of interest rate cuts. Last week, the central bank cut the benchmark Selic interest rate by 25 basis points, as widely expected, to an all-time low of 6.75 percent, and it strongly hinted at the end of the easing cycle. Key Latin American stock indexes and currencies at 1610 GMT:Stock indexes daily % YTD %
LatestchangechangeMSCI Emerging Markets1204.42 1.612.32 MSCI LatAm 3107.54 1.45 8.3
Brazil Bovespa 84152.27 0.73 10.14Mexico IPC 48806.54 0.84 -1.11Chile IPSA 5611.56 0.920.84
Chile IGPA 28242.72 0.780.94Argentina MerVal 31956.95 1.296.29
Colombia IGBC 11707.35-0.212.96
Currenciesdaily % YTD %
changechange
Latest Brazil real 3.2318-0.182.52
Mexico peso 18.5050 0.456.45
Chile peso 592.35 0.433.76
Colombia peso 2850.96 0.604.60Peru sol 3.246 0.46 -0.28
Argentina peso (interbank) 19.7550 0.78 -5.85 Argentina peso (parallel)19.84 0.60 -3.07 (Reporting by Bruno Federowski Editing by Jonathan Oatis)
Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.