EMERGING MARKETS-Latin American markets end 2009 with big gains

* Regional equity prices double in hopes of recovery

* Commodity prices jump: copper rises 139 pct, gold 23 pct

* Local currencies firm on strong exports, capital inflows

* In year's last session, Mexican stocks slip, peso firms

By Herbert Lash

NEW YORK, Dec 31 (Reuters) - Latin America closed out 2009
on Thursday with a stellar rebound for stocks, bonds and
currencies as anticipation of a worldwide recovery doubled the
value of regional equity markets and boosted commodity prices.

Commodities, a major regional export and source of income,
jumped. Copper prices in London posted a 139 percent annual
gain while gold rose 23 percent -- its biggest yearly gain in
three decades -- and silver jumped 49 percent in New York.

Even sugar soared, posting its biggest rally since 2006, as
the sweetener climbed an annualized 128 percent to settle at
26.95 cents a pound, its highest level since February 1981.

Euphoria over Latin America's rebound from the worst global
crisis since the Great Depression was perhaps best seen in the
performance of the region's stock markets.

Morgan Stanley Capital International's Latin American stock
index .MILA00000PUS edged up about 0.1 percent for the day,
ending the year up about 98 percent.

Mexican stocks fell on Thursday but closed out their best
year since 2006 as the country began to recover from the global
recession. The peso posted only modest gains, hit in part this
year by the country's debt downgrade.

Mexico's IPC stock index .MXX slipped 1.01 percent on
Thursday to 32,120, but advanced 43.5 percent for the year. It
pulled back from a more than 2-year high hit this week.

The peso firmed 0.14 percent to 13.06.
(Additional reporting by Michael O'Boyle in Mexico City;
Editing by Dan Grebler)