MEXICO CITY, Feb 14 (Reuters) - Markets and currencies across Latin America gained on Wednesday, as the U.S. dollar weakened and oil prices rose.
However, markets in the region's biggest economy, Brazil, remained closed for the third day due to Carnival celebrations.
Shares of Mexico's America Movil, controlled by the family of billionaire Carlos Slim, were up 4.26 percent after reporting fourth-quarter earnings after market-close on Tuesday.
Investors in Latin America's largest telecommunications firm, the company with the biggest market capitalization on the Mexico's main index, focused on 13 percent growth in earnings before interest, tax, depreciation and amortization (EBITDA), overlooking the quarterly loss. Shares of Mexican cement maker Cemex were also up, gaining 2.61 percent.
The Mexican currency also firmed, up 0.48 percent in a day of volatile trading to reach 18.56 pesos per U.S. dollar.
The peso's gains were, in part, due to comments by Economy Minister Ildefonso Guajardo indicating the government is willing to have the NAFTA trade pact periodically revised, according to analysts at Banco BASE.
In Argentina, drought in the heart of the country's Pampas grains belt is likely to persist through the second half of February, further reducing yields of soy and corn in the 2017-18 season, climate experts said on Wednesday. Meanwhile, the Argentine central bank held its benchmark seven-day interbank lending rate at 27.25 percent on Wednesday, the monetary authority said in a statement, amid an increase in inflation expectations and "mixed signals" in prices so far this year. Key Latin American stock indexes and currencies at 2145 GMT:
Stock indexesLatest daily % change YTD % change
MSCI Emerging1185.331.79 2.32Markets MSCI LatAm 3063.02 3.38.3 Brazil Bovespa83542.843.27 9.35 Mexico IPC48400.750.99-1.93 Chile IPSA 5560.381.09-0.08 Chile IGPA28025.030.87 0.16 Argentina MerVal31551.314.67 4.94 Colombia IGBC 11732.341.43 3.18 Venezuela IBC3933.340.79 211.39 Currenciesdaily % change YTD % change
LatestBrazil real 3.21680.29 3.00 Mexico peso18.57650.40 6.04 Chile peso 594.90.35 3.32 Colombia peso 2866.651.21 4.02
Peru sol 3.2610.37-0.74 Argentina peso 19.88500.48-6.46(interbank) Argentina peso 19.911.61-3.42(parallel) (Reporting by Skeky Espejo and David Alire Garcia; Editing by Sandra Maler)
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.