EMERGING MARKETS-Latam stocks slip on US jobs report
* U.S. employers added fewer jobs than expected in June * Brazil stock market closed on Monday * Brazil Bovespa falls 1.75 pct, Mexico IPC down 0.52 pct SAO PAULO, July 6 (Reuters) - Latin American stocks fell on Friday after data showed employers in the United States added fewer jobs than expected in June, raising concerns a recovery in the world's largest economy is losing steam. The MSCI Latin American stock index fell for a third consecutive day, losing 1.36 percent to 3,542.51, but it ended the week with gains around 1 percent. With the recent bout of weak economic data from the United States, Europe and China, investors are anxiously eyeing the beginning of earnings season next week and a meeting of European finance ministers to gauge the global outlook. Worries over a slowdown in global growth has led investors away from riskier Latin American assets in favor of safe-haven investments such as the U.S. dollar. "Analysts expect weak numbers this quarter, with companies hit hard by the crisis in Europe and a clear slowdown in consumption in the United States," said Alejandro Pavon of InterBolsa Securities in Miami. The U.S. Labor Department said non-farm payrolls expanded by just 80,000 jobs in June, falling short of forecasts. That added to worries Europe's debt crisis is dragging on growth in the United States and will have a knock on effect on the global economy. Brazil's bovespa index lost 1.75 percent to 55,394.05, but ended the week nearly 2 percent up after gaining about 7 percent in the previous five sessions. Profit taking in commodities shares - prompted by concerns about sagging global demand - drove losses in the Bovespa on Friday, with state-controlled oil producer Petrobras down 2.04 percent and iron-ore giant Vale losing 1.53 percent. "Next week will continue to be volatile, with the index floating between 52-53,000 and 57-58,000 points until we have a better perspective of what is going to happen in Europe," said Joao Pedro Brugger, an analyst at Leme Investimentos in Florianopolis, Brazil. Investors are eyeing a meeting next week of euro zone finance ministers where they are expected to sort out plans to create a single banking supervisor based around the European Central Bank and other measures to stem the region's debt crisis. But European officials are already trying to tap down hopes, warning against expecting any swift action. Brazil's stock market will be closed on Monday for a local holiday, adding to risk aversion in today's session, analysts said. Mexico's IPC index slipped for a third day, falling 0.52 percent to 39,831.65 and posting a 0.9 percent weekly fall. Mexican stocks are susceptible to economic weakness in the United States, the destination of over 80 percent of Mexico's exports. Mining firm Grupo Mexico fell 2.13 percent, contributing most to the index's fall. Shares of telecommunications firm America Movil, controlled by billionaire Carlos Slim, declined 0.35 percent. A court on Thursday denied Slim's bid to enter into the country's television market. Chile's IPSA index edged down 0.29 percent to 4,413.41, but was still set to eke out a slight gain for the week. Industrial conglomerate Copec fell 1.11 percent. Latin America's key stock indexes at 21:51 GMT: Stock indexes daily % year-to Latest change date % change MSCI LatAm 3,542.51 -1.36 -1.66 Brazil Bovespa 55,394.05 -1.75 -2.40 Mexico IPC 39,831.65 -0.52 7.43 Chile IPSA 4,413.41 -0.29 5.65 Chile IGPA 21,127.37 -0.25 4.96 Argentina MerVal 2,383.69 0.11 -3.21 Colombia IGBC 13,711.64 -0.81 8.26 Peru IGRA 20,602.68 -0.29 5.80 Venezuela IBC 248,429.38 0 112.27
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