LatAm stocks gain, FX flat as investors weigh inflation data, higher oil prices
EWZ•Latin American stocks rose 1% while regional currencies were steady as investors weighed inflation data and a more than 5% rise in Brent crude prices.
1. Stocks rise, currencies flat
Latin American stocks inched higher on Thursday, while currencies were flat as investors assessed regional inflation reports, rising oil prices and a global bond selloff. The MSCI index tracking major regional equities rose 1%, while its currency gauge was steady against the dollar.
2. Inflation and regional markets
Annualized headline inflation accelerated in September in Mexico and Colombia compared with the previous month. Chilean consumer prices rose less than expected. Brazil’s Bovespa benchmark gained 1.5%, while Colombia’s COLCAP rose 0.2%; Brazil’s real and Colombia’s peso each firmed 0.2%.
