* Chilean peso set to outperform peers for the week * Argentine stocks outpace peers for the week * U.S. record rise in COVID-19 cases chokes risk appetite * Petrobras up as Mubadala set for talks to buy Bahia refinery (Adds graphic, updates prices) By Shreyashi Sanyal and Ambar Warrick July 10 (Reuters) - Brazilian stocks were set for their strongest close in more than four months on Friday, while broader sentiment remained subdued amid increasing global coronavirus cases. The Bovespa stock index added about 0.8% after data showed inflation as measured by the IPCA consumer price index rose 0.26% in June over May, picking up after the deflation reported in the previous month. State-owned oil company Petrobras rose 1.5% after it said Abu Dhabi's investment fund, Mubadala Investment Co , will enter exclusive talks to purchase Brazil's second-largest refinery. Improving economic indicators in Brazil, Latin America's largest economy, put its stocks on course for a 3.2% weekly gain. Still, the country has the second-highest number of coronavirus infections in the world, behind only the United States. Mexico's peso and the Brazilian real rose against the dollar, but were set the end the week largely unchanged. Most other currencies moved in a flat-to-low range for the day. Chile's peso was set to outperform peers for the week, tracking strength in the copper market. Chile is the world's largest exporter of the red metal. Argentine stocks, which did not trade on Friday with the market closed for the day, outperformed their regional peers by a wide margin this week amid improving sentiment on the country's negotiations with its sovereign debt holders. Sentiment for the day was dampened as new coronavirus infections reported across the United States marked a record rise on Thursday. Rising coronavirus cases sparked worries of tighter containment measures, which could delay the economic recovery. Latam markets have rebounded sharply from a meltdown in March, but surging cases, political issues, concerns over sovereign debt and deteriorating economic fundamentals have weighed. Mexican stocks fell 1%, with data showing a 1.8% decline in industrial output in May from April and down 30.7% year-over-year. "May's release suggests that Mexico's economy has probably suffered one of the largest peak-to-trough falls in output in the emerging world," said Nikhil Sanghani, assistant economist at Capital Economics. "What's more, its (Mexico) recovery has been delayed and is likely to be weaker than in other emerging markets where the virus is under control." The peso was set to lag its peers for the week, albeit slightly. In Venezuela, the congress on Thursday said it hired two U.S. firms to manage $80 million seized from President Nicolas Maduro's government after Washington disavowed it and recognized opposition leader Juan Guaido as the country's legitimate president. Key Latin American stock indexes and currencies: Stock indexes Latest Daily % change MSCI Emerging Markets 1069.83 -0.91 MSCI LatAm 1975.48 0.25 Brazil Bovespa 99929.88 0.78 Mexico IPC 36425.30 -1.01 Chile IPSA 4028.54 -0.09 Colombia COLCAP 1144.79 0.15 Currencies Latest Daily % change Brazil real 5.3258 0.30 Mexico peso 22.4710 0.69 Chile peso 792.4 -0.56 Colombia peso 3608.37 0.16 Peru sol 3.5017 -0.06 (Reporting by Shreyashi Sanyal in Bengaluru; Editing by Dan Grebler)
Delayed
Other stock markets
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5-day change | 1st Jan Change | ||
40.7 BRL | +12.00% | +4.52% | +9.29% |
05:26pm | Brazil's Petrobras expected to pay 100% of withheld dividends, says newspaper O Globo | RE |
Apr. 18 | Petrobras unit to launch by May process to contract four vessels | RE |
Stocks mentioned in the article
Price
|
Change
|
5d. change
|
Capi.
| ||
---|---|---|---|---|---|
125,244 PTS | +0.84% | -0.57% | - | ||
55,739 PTS | +0.58% | -1.58% | - | ||
8,950 PTS | +1.03% | -2.10% | - | ||
2,402 USD | +0.70% | -5.57% | - | ||
1,004 USD | -1.38% | -3.71% | - | ||
927.5 ARS | +0.22% | -0.09% | - | ||
870.5 ARS | +0.12% | +0.58% | - | ||
501 PTS | -0.84% | -5.38% | - | ||
358.3 PTS | +1.24% | -8.24% | - | ||
87.24 USD | +1.00% | -3.36% | - | ||
82.31 USD | +0.31% | -3.23% | - | ||
5.551 BRL | -0.73% | +1.69% | - | ||
5.209 BRL | -0.86% | +2.36% | - | ||
3.79 BRL | -0.67% | +1.95% | - | ||
EPS Revisions
1st Jan change | Capi. | |
---|---|---|
+9.29% | 99.72B | |
-9.39% | 1,929B | |
+20.20% | 469B | |
+45.16% | 257B | |
+10.87% | 227B | |
+9.22% | 173B | |
-7.19% | 79.67B | |
-0.59% | 51.88B | |
-.--% | 49.81B | |
+25.44% | 49.05B |
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