SAO PAULO, Feb 28 (Reuters) - Mexican equities fell sharply again on Wednesday, posting their biggest monthly loss since September 2011, as a mediocre corporate results season wrapped up and uneasy negotiations continued for the North American Free Trade Agreement.
Markets also continued to be spooked following a relatively hawkish speech by the newly appointed head of the Federal Reserve Jerome Powell that raised speculation about increased monetary tightening in the United States in 2018. In a note to clients, Mexican brokerage Monex said global markets were continuing to show mixed movements, but with a downward bias, after Powell's speech.
The benchmark IPC index was trading of 0.64 percent in the afternoon.
Elsewhere, equities in every major Latin American market were trading in the red.
Brazil's Bovespa was among the biggest losers, falling 0.82 percent, in part due to some major isolated price movements following results and other corporate events.
Shares in major Brazilian miner Vale SA fell 2.4 percent in afternoon trade following fourth quarter results that missed analysts estimates. Shares in major planemaker Embraer SA posted the biggest loss, falling as much as 4.9 percent after a report in Brazilian newspaper O Globo said that newly appointed defense minister Joaquim Silva e Luna has been one of the most avid opponents of a proposed joint venture between Embraer and U.S. planemaker Boeing SA .
However, Embraer pared losses to 3.9 percent after a comment from the company's chief executive saying he expected the talks to be concluded in the first half of 2018. Key Latin American stock indexes and currencies at 1903 GMT:
Stock indexes daily % YTD %
Latest changechangeMSCI Emerging Markets 1197,15 -1,254,65 MSCI LatAm3103,39 -0,67 10,47 Brazil Bovespa 86221,49 -0,82 12,85 Mexico IPC 47665,17 -0,64 -3,42 Chile IPSA5608,93 -0,590,80 Chile IGPA 28155,66 -0,550,63 Argentina MerVal 32759,640,758,96 Colombia IGBC11555,16 -1,781,62 Venezuela IBC 4242,88 -5,26-86,62 Currenciesdaily % YTD %
changechange
LatestBrazil real 3,23620,352,38
Mexico peso 18,78200,364,88 Chile peso 593,98 -0,323,48
Colombia peso 2864,5 -0,334,10Peru sol 3,266 -0,43 -0,89
Argentina peso20,11000,65 -7,51(interbank) Argentina peso20,220,30 -4,90(parallel) (Reporting by Gram Slattery Editing by Chizu Nomiyama)
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