SANTIAGO, Apr 7 (.) – Latin American currencies and stock exchanges were trading higher on Tuesday, in line with global markets showing greater optimism regarding the development of the coronavirus pandemic, which appeared to be moderating, raising investors’ appetite for riskier assets.
* Global equity markets enjoyed a strong second day on Tuesday, as signs of coronavirus progress in both Europe and the United States and stimulus measures kept investors buoyed.
* Commodity markets were experiencing additional momentum as oil advanced more than 1% at 0913 GMT on hopes of supply cuts, while currency markets also revived as the dollar depreciated and the euro strengthened after six days of falls.
* Emerging currencies were also favored by a global decline in the dollar, whose index, which measures the greenback against a basket of six major currencies, was down around 0.8%.
* The Mexican peso appreciated 3%, at 23.9 per dollar because the riskiest currencies were recovering due to expectations that the stoppage of economic activity could be slowing down the spread of the coronavirus in some countries.
* The benchmark S & P / BMV IPC index of the Mexican stock market gained more than 1.8% due to a new upturn in global appetite for risky assets.
* The Brazilian real rose 2.01% at the open to 5.1851 units per dollar and the Bovespa stock index rose more than 5% in the first minutes of operations.
* In Argentina, the peso opened the session with a drop of 0.12%, to a record low of 65.07 units per dollar, while the Merval index of the Buenos Aires stock exchange rose more than 3.82%, to 27,951.70 units in the first businesses driven by opportunity purchases.
* The Chilean peso appreciated 1.31%, at 839.20 / 839.50 after giving up part of the first-hour gains that led it to climb close to 2%. Meanwhile, the main index of the Santiago Stock Exchange, the IPSA, rose 0.27% to 3,758.75 points.
* The Colombian peso appreciated 1.83% at 3,909 units per dollar and the benchmark COLCAP index for the stock market rebounded by 3%.
* The Peruvian sol showed an advance of 0.68% and the benchmark of the stock market rose 1.2%.
(Report by Froilán Romero. Additional report by María Cervantes in Lima, Jorge Otaola and Walter Bianchi in Buenos Aires, Nelson Bocanegra in Bogotá.)