* Argentine peso extends losses on wider fiscal deficit * Mexico's peso cuts month-to-month positive factors * Brazil's retail, attire
* Argentine peso extends losses on wider fiscal deficit
* Mexico's peso cuts month-to-month positive factors
* Brazil's retail, attire firms hit by new curbs
(Provides financial analyst remark, updates costs)
By Medha Singh
Dec 22 (Reuters) - Most Latin American currencies slipped on
Tuesday, undermined by the secure haven greenback's demand on fears
over a brand new variant of the novel coronavirus however shares within the
area recovered in a vacation shortened week.
MSCI's index of shares in Latin America
bounced again 0.3% after struggling its worst day in about two
months, with benchmarks in Brazil and Colombia
posting the sharpest positive factors.
Brazil's actual dropped for the third straight day at
5.1624 per greenback as Sao Paulo state authorities ordered
eating places and buying malls to remain closed for Christmas and
New Yr after an infection charges rose by 54% prior to now 4
weeks.
Shares of Brazil's retail and clothes firms By way of Varejo
, Lojas Renner, Cia Hering shed
between 0.8% and a couple of.7% on the information.
New restrictions in Brazil, Mexico and Chile to curb the
unfold of the virus has fueled worries of extra financial ache,
slowing the sharp restoration in Latin American shares and equities
in December.
"Stringent restrictions and excessive caseloads counsel that
financial exercise in (Latin America) will most likely worsen
earlier than it will get higher," stated William Jackson, economist at
Capital Economics, including that an financial increase from a vaccine
might solely come within the second half of 2021.
The Mexican peso and the Colombian peso additionally
slid on fears the most recent restrictions will dent gasoline demand.
Stricter lockdowns applied in Britain on Monday to battle
a variant of the coronavirus roiled world markets within the
earlier session.
Nevertheless, Washington's approval of an $892 billion pandemic
reduction bundle after months of inaction helps them get well
a few of these losses.
The Argentine peso recorded breaching its document low
within the earlier session after it reported a wider fiscal deficit
in November.
Shares in Mexican telecommunications firm Axtel
fell about 12%, a day after the agency introduced it
had scrapped a plan to promote the enterprise as a complete and as an alternative
search consumers for its two models individually.
Latin American inventory indexes and currencies:
Inventory indexes every day % change
Newest
MSCI Rising Markets 1248.56 -0.67
MSCI LatAm 2406.66 0.29
Brazil Bovespa 116569.11 0.64
Mexico IPC 42653.73 -1.37
Chile IPSA 4190.03 0.65
Argentina MerVal 50409.29 0.497
Colombia COLCAP 1401.17 1.73 Currencies every day % change
Newest
Brazil actual 5.1592 0.04
Mexico peso 20.1430 -1.00
Chile peso 722.4 0.48
Colombia peso 3463.17 -0.99
Peru sol 3.6117 -0.19
Argentina peso (interbank) 83.2400 -0.11
(Reporting by Medha Singh in Bengaluru; enhancing by Grant
McCool)