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THE EMERGING MARKET-Brazilian Real surged 1%, Latam shares fell after rally | Instant News


    * Real firms for a second day 
    * Copper surge supports Chile's peso
    * Mexican peso eases from 9-month high 

    By Sruthi Shankar
    Nov 25 (Reuters) - Brazil's real jumped again on Wednesday,
outperforming its Latin American peers on improving economic
data and continued  optimism over COVID-19 vaccines and U.S.
politics. 
    Brazil's real firmed for a second session, rising over
1%after figures showed the country's current account deficit
narrowed to its smallest in 2-1/2 years in October, helped by a
bigger-than-expected surplus in goods trade.  
    Worries about Brazil's fiscal health, record-low interest
rates and a second wave of coronavirus cases have hammered the
real this year, but a brighter global mood has boosted the
currency by more than 7% in November.
    The Chilean peso rose 0.3% as a surge in copper
prices to near seven-year highs supported the currency of the
world's top copper producer.
    The Colombian peso gained 0.6% , but the  Mexican
peso eased from nine-month highs.  
    Investors have rushed to riskier emerging market assets in
recent weeks after positive data on COVID-19 vaccine efficacy,
while news that U.S. President Donald Trump began cooperating
with President-elect Joe Biden's transition team ended weeks of
political uncertainty in Washington. 
    "While there has been already very strong positive news flow
surrounding the vaccine, we do not believe that the vaccine
trade is already done yet," Citi's Dirk Willer said in a note.
    "Pullbacks, maybe related to month end equity selling,
should be seen as a buying opportunity." 
    Stocks in the region edged higher, but
Brazil's Bovespa and Mexico's IPC slipped almost
0.3%.
     A Reuters poll showed Brazilian stocks will reach
pre-pandemic levels by the middle of next year, but concern
about the impact of a resurgent pandemic could limit the
recovery.
    The index is predicted to close this year at 108,000 points.
It was last trading at 109,517. 

    Key Latin American stock indexes and currencies:
    
                                       Latest       Daily %
                                                     change
 MSCI Emerging Markets                    1217.39        -0.7
 MSCI LatAm                               2236.67        0.45
 Brazil Bovespa                         109517.84       -0.24
 Mexico IPC                              42590.89       -0.34
 Chile IPSA                               4200.68        0.08
 Argentina MerVal                        54697.84       1.038
 Colombia COLCAP                          1266.46       -0.33 Currencies                  Latest       Daily %
                                                     change
 Brazil real                               5.3201        1.02
 Mexico peso                              20.0815       -0.42
 Chile peso                                 771.1        0.30
 Colombia peso                            3612.17        0.60
 Peru sol                                  3.6078        0.03
 Argentina peso (interbank)               80.7800       -0.10
                                                   
 

 (Reporting by Sruthi Shankar in Bengaluru; editing by Jonathan
Oatis)
  

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Australian, NZ shares rose as Biden’s transition, increasing the risk assets of the vaccine | Instant News


* Australian finances record their highest levels since March 5

* Australian energy stocks advanced for the third session

* Fletcher NZ Building recorded highest level in more than 2 years (Renewal closed)

November 25 (Reuters) – Australian stocks closed higher on Wednesday, lifted by the start of US President-elect Joe Biden’s official transition to the White House and as investors also expected a rapid economic revival due to advances in the coronavirus vaccine.

The S & P / ASX 200 index ended 0.6% higher at 6,683.300 points.

“Thanks to the many vaccines that will be available soon,” Joy to the World “is ringing earlier than expected,” wrote Stephen Innes, head of global market strategy at Axi in a note.

The Dow Jones Industrial Average broke the 30,000 level overnight for the first time on optimism surrounding vaccine progress and Biden’s transition.

“Get a glimpse of the current market and there’s not much to say about those worries. It’s like a positive risk nirvana has gone down in the stock market and traders have little trouble other than going with the flow ”, said Chris Weston of Pepperstone.

Meanwhile, Australia’s most populous state of New South Wales is set to loosen social distancing restrictions and allow restaurants and pubs to increase capacity starting December, after recording nearly three weeks of no local transmission of COVID-19.

Up by 4%, energy companies were the biggest percentage gainers on the benchmark as crude oil prices rose for the fourth straight session.

Finance added more than 2% with the “Big Four” bank ending in black. Analysts at UBS expect the bank to increase its payout ratio and potentially return the excess capital from fiscal 2021.

Miners also gained as benchmark iron ore futures snapped two consecutive sessions of losses with Lynas Corp and BHP Group topping the sub-index with more than 3% gains each.

In New Zealand, the benchmark S & P / NZX 50 was up for the third straight session to be 0.9% higher.

The central bank said Wednesday it will reimpose mortgage restrictions next year amid growing fears of a housing bubble.

The country’s biggest construction company surged to its highest level since November 2018 on an optimistic profit outlook and dividend payback plans. (Reporting by Deepali Saxena, Editing by Sherry Jacob-Phillips)

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Australian stocks hit 9-month highs as Biden’s transition raised appetite for risk | Instant News


* Australia is on track for a third straight session of gains

* Financial sector, energy stocks hit 8-1 / 2-month highs

* Gold stocks were at 6-1 / 2 month lows as their safe-haven appeal waned

* NZ cenbank to continue restricting mortgage lending next year

November 25 (Reuters) – Australian stocks hit a nearly nine-month high on Wednesday, following Wall Street’s rally overnight, as the official green light for US President-elect Joe Biden to transition to the White House easing political uncertainty.

The Dow Jones Industrial Average closed above the 30,000 point mark for the first time as investors welcomed positive developments in Washington and hoped that a potential vaccine would be widely available soon.

In Australia, states have continued to ease virus-induced travel restrictions, with the country on a strong path to nearly eliminating the virus as new infections have slowed down a bit.

The S & P / ASX 200 index was up 0.8% at 6,697.1 at 2359 GMT, the highest since Feb 27, on track for a third straight session of gains.

Energy stocks rose to a peak 8-1 / 2 months after oil prices hit their highest level since March on vaccine optimism. Woodside Petroleum was up 4.2%, while Santos was up 5.2%.

Financial heavyweights rose up to 1.9% to hit 8-1 / 2-month highs amid prospects for a broader economic rebound.

Commonwealth Bank of Australia rose 2.6% and National Australia Bank rose 2.5% leading gains in the sub-index.

BHP Group and Rio Tinto’s top miners are the biggest winners in the metals and mining sub-index.

The continued decline in safe-haven gold bullion prices saw gold stocks take a hit and slide to their lowest in 6-1 / 2 months, with Evolution Mining and AngloGold Ashanti losing the most.

New Zealand’s benchmark S & P / NZX 50 index rose 1.1% to 12,696.87, with local shares of Westpac Banking Corp and the Australian and New Zealand Banking Group rising 3.4% and 3.3%, respectively.

Meanwhile, the country’s central bank said it intends to continue restricting mortgage lending next year amid growing fears of a housing bubble.

Reporting by Arpit Nayak in Bengaluru, Edited by Sherry Jacob-Phillips

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Travel insurance the go-to as American travelers take risks on Thanksgiving | Instant News



(Reuters) – U.S. websites have seen a surge in travelers looking for expensive, bulletproof insurance for Thanksgiving, as Americans desperate to break the monotony of a year spent at home look to get away. cover against the risks associated with the coronavirus. showed that the number of insurance policies written for domestic travel to the United States over the upcoming holidays was up 170% from the same period in 2019. About 40% of all Thanksgiving travelers have specifically sought coronavirus coverage, replacing major concerns from previous years, such as weather and financial flaws, and driving up the overall cost of coverage. “Cancellation for any reason” policies, which typically allow cancellations up to two days before departure and a 75% refund, cost up to 40% more than “It happened at one”. point where I think people are tired of being stuck at home and looking to get away and go somewhere, ”said Jeremy Murchland, president of US travel insurer Seven Corners. 3 million passengers passed through US airports over the weekend, rejecting advice from the Centers for Disease Control and Prevention to stay home as coronavirus infections hit daily records. The overall number of travelers is still down 60% from a year ago, but Squaremouth, one of the nation’s leading insurance price aggregators, said its data suggested the total number of travelers seeking coverage was on the rise by 26% from year to year Squaremouth’s data is based on all travel insurance policies written on its website between March 12 and November 9 for trips during Thanksgiving week. With trips to popular European destinations indeed banned, and the risks of quarantine and other bottlenecks to travelers’ decision-making, overall requests for coverage to foreign destinations were lower, those for domestic travel, those to the Bahamas and Costa Rica decreased slightly more than half. Insurance claims for travel to Mexico, however, fell only 23% year-over-year, and for the Turks and Caicos Islands, right next to Haiti, where luxury hotels guarantee safe COVID-19 bubbles, they are up more than 500% .For those traveling outside the United States, a travel insurance policy that also includes medical coverage for COVID-19 will cover medical treatments that a normal health policy would not allow, as well as the potential medical evacuation. theater actress, ensures a trip with her parents to Guatemala to meet her sister and her newborn niece Madi. “Madi came like the virus did. She’s crawling and trying to talk now and we just don’t want to miss this time around, “she says.” If we don’t go now, we probably won’t go before the holidays. And potentially, not until the vaccine everyone is talking about is distributed. »Report by Noor Zainab Hussain in Bengaluru; Additional reporting by Suzanne Barlyn in Washington Crossing, Penn; Edited by Patrick Graham and Sriraj Kalluvila.



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Australian, NZ stocks ended higher as vaccine euphoria fueled recovery hopes | Instant News


* Gold stocks hit their lowest point in more than six months

* Energy stocks are at a 5-month high due to rising oil prices

* Air New Zealand is profitable for the 4th consecutive session (Renewals closed)

November 24 (Reuters) – Australian stocks closed more than 1% higher on Tuesday, as news about a promising third vaccine candidate supported the risk-on mood and lifted sectors such as energy, finance and industry.

Cyclicals led the gains, with energy stocks rising as much as 3.6% to their highest level in more than five months.

British drugmaker AstraZeneca said on Monday that its COVID-19 vaccine could be up to 90% effective, and cheaper and easier to distribute than its competitors, providing a third new weapon for the world war against the pandemic after Pfizer and Moderna announced trial results. promising earlier this month.

The benchmark S & P / ASX 200 closed 1.3% higher at 6,644.1 points.

“More and more pharmaceutical companies are coming out and announcing that they have a successful viral treatment, it is inspiring the market to maintain these very high levels,” said Brad Smoling, managing director at Smoling Stockbroking.

“It’s going to take a really long time to implement, to get it to different parts of the world, so the market is trying to get inspiration from every vaccine announcement, but it will be short-lived,” Smoling said.

Heavyweights Woodside Petroleum and Santos each gained more than 2.5%, while Beach Energy added nearly 8%.

Finance hit their highest in more than eight months, with the so-called “Big Four” banks rising between 3.1% and 2%.

The gold index is an outlier as vaccine optimism undermines bullion’s safe-haven appeal.

The aviation sector got an extra boost on reports that Australia will lift more internal border restrictions as new coronavirus infections slowly drip.

Australian and New Zealand airlines Qantas Airways and Air New Zealand rose more than 4%.

New Zealand’s benchmark S & P / NZX 50 index finished 0.4% higher. (Reporting by Deepali Saxena, Editing by Sherry Jacob-Phillips)

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