* Brazil's Magalu up on partnership with China's Aliexpress * Mexico's consumer prices rise in early June * MSCI indexes hit two-week highs * Latam stocks up 1.4%, FX add 1% By Johann M Cherian June 24 (Reuters) - Most Latin American equities and currencies climbed on Monday, with Mexico's peso among the top gainers after data pointed to price pressures in the region's second-largest economy, ahead of a central bank policy decision later in the week. The peso rose nearly 0.9% to an over two-week high at 18 against the dollar, while the yield on 10-year treasury bonds ticked higher after data showed consumer prices increased 0.2% during the first half of June, compared with economists' forecasts of a 0.1% increase. The oil exporter's currency had been among the better performers as the local central bank delayed further interest rate cuts. However, concerns around the incumbent Morena party's election win and possible constitutional reform has brought the peso down over 5% year-to-date. "The combination of a softening economic recovery and tight financial conditions will likely cap inflation as (the year) progresses, assuming the (peso) stabilises as we expect," said Andres Abadia, chief Latam economist at Pantheon Macroeconomics. Monday's data reinforced expectations that Mexico could leave its benchmark interest rate on hold at 11% later in the week. "Depreciation will continue to have a direct effect on inflation and inflation expectations ... making Banxico's Board members more cautious than they already were," Abadia added. An index tracking currencies in the resources-rich region climbed 1% to a near two-week high against a weakening dollar, with Brazil's real up 0.9%. The market focus will be on U.S. Personal Consumption Expenditure data for May, the Federal Reserve's preferred inflation gauge that could influence the outlook for its monetary policy and consequently policy easing cycles in most emerging economies. The Colombian peso rose 1.4% to a week's high, ahead of its central bank decision later this week. The currency of the world's largest copper producer, Chile lost 0.5%. Among stock markets, MSCI's index tracking regional bourses rose 1.4% to a two-week high, with Brazil's Bovespa adding 1%. Magazine Luiza jumped more than 10% after the retailer and Chinese e-commerce powerhouse Aliexpress entered into an agreement for both firms to list and sell products on each other's platforms. Meanwhile, the Argentine peso in the parallel market fell to a record low, as per traders. Data showed the country's unemployment rate stood at 7.7% in the first quarter of the year, up from 6.9% a year ago. Key Latin American stock indexes and currencies: Latest Daily % change MSCI Emerging Markets 1084.76 -0.2 MSCI LatAm 2215.44 1.46 Brazil Bovespa 122547.02 0.99 Mexico IPC 52476.17 -0.59 Chile IPSA 6459.67 -0.45 Argentina MerVal 1536835.07 -2.514 Colombia COLCAP 1375.78 0.76 Currencies Latest Daily % change Brazil real 5.3919 0.90 Mexico peso 17.9430 0.87 Chile peso 944.9 -0.50 Colombia peso 4090.69 1.40 Peru sol 3.8015 -0.27 Argentina peso (interbank) 908.5000 -0.44 (Reporting by Johann M Cherian and Shristi Achar A in Bengaluru; Editing by Alexander Smith and Alistair Bell)
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Other stock markets
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5-day change | 1st Jan Change | ||
11.93 BRL | +679.74% | +10.06% | -44.81% |
06-24 | Mexican Peso leads Latam FX higher on inflation data | RE |
06-24 | Peso hits two-week high on Mexican inflation data | RE |
Stocks mentioned in the article
Price
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Change
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5d. change
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Capi.
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1,635,667 PTS | +3.89% | +63.57% | - | ||
52,311 PTS | -0.30% | -1.92% | - | ||
11.93 BRL | +679.74% | +10.06% | 1.62B | ||
EPS Revisions
1st Jan change | Capi. | |
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-44.81% | 1.62B | |
+14.27% | 49.09B | |
-49.17% | 6.09B | |
+1.37% | 5.7B | |
-25.00% | 5.04B | |
+13.33% | 4.37B | |
-15.69% | 2.98B | |
-14.80% | 2.33B | |
-11.11% | 1.43B | |
+7.06% | 1.39B |
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