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Home / Business / EMERGING MARKETS – Brazilian equities hit their low for the year and were affected by the truckers' protest

EMERGING MARKETS – Brazilian equities hit their low for the year and were affected by the truckers' protest



   (Updates prices, adds details from Mexico and other countries)
SAO PAULO, May 28 (Reuters) - Brazilian stocks tumbled
more than 4 percent on Monday to the lowest level this year,
As a continuing trucker strike hit all sectors and state oil
Company Petroleo Brasileiro SA had to adopt a number
politics unpopular with traders.
Truckers block the highways of Brazil for a full
Week to protest against rising fuel prices.
While some of them reached an agreement with the government
At the end of last week, the agreement lacked the nation's approval
The biggest truck group, Abcam, and the strike went on.
This has devastating effects on sectors ranging from aviation to
Agribusiness to retail, as companies could not get
delivers and delivers goods, even in larger ports.
In the meantime, the Brazilian government proposed a variable on Monday
Tax structure on oil, and said it would set its prices for 60
Days before you adjust it monthly.
That helped to send shares in Petrobras, as the state oil
Company is known to dive by more than 1
4 percent. ordinary shares In the company has lost more than a third of his Market value since 21 May began the day of protests. While Abcam asked Trucker to break up blockages On Monday, the demonstrators did not seem to follow this call. Businesses in other parts of the economy, like highway Concessionaires, bus operators and retailers significant losses. Brazil's benchmark Bovespa stock index almost 4.5 percent closed. "There is a general depletion of supplies," said Marco Tulli Siqueira, a trader at the Bovespa counter for the broker in Sao Paulo Coinvalores. Shares in the Brazilian motorway operators CCR SA and Ecorodovia Infraestrutura e Logistica SA fell 4.5 Percent, or 6.2 percent, according to Sao Paulo State said A Presidential Decree reducing the toll would be the government monthly revenue of 50 million reais ($ 13.5 million). Shares in grocers GPA, owned by France Casino Guichard Perrachon SA and Carrefour Brasil , fell 6.6 percent and 3.2 percent, respectively. Brazil's real currency also slipped, falling 1.64 Percent to nearly 3.73 reais to the dollar, as traders rejoiced about the position of the Brazilian government that has tried Introducing relative austerity measures in Latin America's largest economy, but has still seen its political capital evaporate. Stock markets were also weak in the region, Slipping in Mexico, Colombia and Argentina. Mexico's peso briefly reached its strongest level against the dollar in two weeks, but later lost ground and closed at 0.07 percent. Major Latin American Stock Indices and Currencies at 21:05 GMT: Stock indices daily% YTD% Last change of the change MSCI Emerging Markets 1136.24 -0.03 -1.88 MSCI LatAm 2554.93 -3.82 -6.08 Brazil Bovespa 75355.84 -4.49 -1.37 Mexico S & P / BMV IPC 44851.05 -0.53 -9.12 Chile IPSA 5570.48 -0.11 0.11 Chile IGPA 28271,00 0,23 0,74 Argentina MerVal 29431.27 -0.79 -4.67 Colombia IGBC 11996.16 -0.54 5.74 Venezuela IBC 32507.69 10.75 2473.56 Currencies daily% YTD% change change Latest Brazil real 3.7286 -1.64 -11.14 Mexico Peso 19.550 -0.07 0.76 Chile peso 624.5 -0.18 -1.58 Colombia Peso 2874 0.03 3.76 Peru sol 3.275 -0.24 -1.16 Argentina Peso 24.72 -0.69 -24.76 (Intermediate Bank) Argentina Peso 25.80 -1.16 -25.47 (parallel) (Report by Gram Slattery and Paula Arend Laier) Adaptation by Nick Zieminski; Editing by Diane Craft)

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