Chile stocks firm 2 pct on global bourses, peso up

* Global bourse gains boost Chile market

* Weak dollar, strong copper prices underpin peso

SANTIAGO Dec 1 (Reuters) - Chile's blue chip IPSA share index .IPSA rose over 2 percent on Tuesday, tracking gains on global bourses which also helped the peso inch higher against the dollar, traders said.

The benchmark IPSA closed 2.09 percent higher at 3,323.52, adjusting from a preliminary closing gain of 1.99 percent, while the all-market .IGPA was up 1.63 percent at 15,623.63.

"As all the concerns regarding the solvency of Dubai ease, there is a lot of market recovery," said Allan Becker, a trader with CorpCapital brokerage. "Commodities are booming and with it you have this love for emerging markets."

Commodity and utility sectors led the day's gains.

Chilean industrial conglomerate Copec COP.SN, one of the world's biggest wood pulp exporters, surged 2.91 percent to 7,298 pesos while rival CMPC CAR.SN rose 2.10 percent to close at 18,801 pesos.

"Copec apparently is considering increasing the pulp price they charge to Chinese clients, so that's giving a boost to the stock," CorpCapital's Becker said.

Shares in Soquimich SQM_pb.SN, Chile's leading exporter of fertilizer and the world's No.1 producer of lithium and iodine, closed 1.56 percent firmer at 18,950 pesos, while Chilean regional energy group Enersis ENE.SN rose 3.71 percent to 196 pesos.

U.S. stocks firmed, with the Dow Jones industrial average .DJI rising around 1.2 percent as a weak dollar lifted commodity prices and U.S. home sales data reassured investors about the state of the housing market.

Chile's peso CLP=CL closed 0.12 percent firmer in volatile trade at 496.70/497.20 per U.S. dollar compared to Monday's close of 497.30/497.80.

The peso, which is up 29 percent against the dollar year-to-date, has seen volatile trade in recent sessions, when it flirted with 17-month highs before falling back slightly. The central bank has warned of possible intervention if the peso's rally continues much further.

The price of copper MCU3 on the London Metal Exchange rose to 14-month highs, boosted by upbeat manufacturing data in top world copper consumer China, the weaker dollar and easing worries over a possible debt default in Dubai.

Copper then hit 15-month highs on the New-York Mercantile Exchange's COMEX division.

"If we consider the positive foreign markets, a weak dollar and high copper prices, conditions were favorable for the peso to have risen much more than it did," said one trader. (Reporting by Froilan Romero and Aaron Nelsen; Editing by Simon Gardner and James Dalgleish) ((aaron.nelsen@thomsonreuters.com; Tel: +562 370-4252))