EMERGING MARKETS-Brazil stocks up on China stimulus, ore prices
* China trade data sours outlook * Brazil Bovespa gains 0.14 pct, Mexico IPC down 0.13 pct By Danielle Assalve and Gabriel Stargardter SAO PAULO/MEXICO CITY Sept 10 (Reuters) - Latin American stocks were little changed o n M onday as weak trade data from China served as an unwelcome curtain-raiser for a big week of economic announcements from Germany and the United States. The MSCI Latin American stock index gained for the fourth straight session, edging up 0.06 percent to 3,635.41. Chinese imports fell 2.6 on the year in August, confounding expectations of a 3.5 rise, while exports grew by only 2.7 percent, below the expected 3 percent in a recent Reuters poll. That was grim news for an economy where exports generate 25 percent of gross domestic product. The weak Chinese export data ate away at earlier positive news from the Asian giant. A $150 billion infrastructure plan , alongside data showing China's imports of iron ore rose to a three-month high in August, had helped Brazil's major iron ore producer Vale rise 2.96 percent. Flat steel producer CSN shares were up 6.08 percent. Rival steelmaker Usiminas edged up 0.93 percent. Vale shares had lost nearly 9 percent in August as iron ore prices fell to their lowest since November 2009. "The Bovespa lost power as other exchanges cooled off, and investors tried to eke out profits despite the climate of caution overseas," said Ariovaldo Santos, equities manager at the H.Commcor brokerage in Sao Paulo. "It's not every day that Vale opens with a high of almost 6 percent." Brazil's Bovespa gained for the third-straight session, rising 0.14 percent to 58,404.1. A national holiday kept markets closed on Friday. But the climb-down from the morning's highs left Brazilian traders looking to announcements - first from Germany, and then the Federal Reserve Bank in the United States - later this week for guidance. "This week should be decisive for the market," said Daniel Cunha, an analyst at XP Investments in Rio de Janeiro. "These two events will lead investors to take more pronounced positions in the market." Mexico's IPC index slipped 0.13 percent to 39,991.19 as shares of heavily weighted telecommunications firm America Movil fell 1.84 percent. Cement producer Cemex was up in the morning after the company said on Monday it had reached the required acceptance to proceed with a debt exchange, a key part of a broader refinancing plan aimed at pushing back payment of $7.2 billion in debt. But its shares fell 1.34 percent by the end of the day. "This week is just as important for America as it is for the euro zone," said Juan Carlos Lopez, chief trader at the Intercam brokerage in Mexico City. "So we can expect movement to be a lot more cautious." Chile's IPSA index rose for the third straight session, adding 0.20 percent to 4,174.47. Chilean forestry and paper company CMPC gained 1.02 percent after it said o n M onday it had bought Brazilian forestry properties from Fibria, the world's largest eucalyptus pulp producer, for 615 million reais ($303 million). Latin America's key stock indexes at 2107 GMT: Stock indexes daily % year-to-d Latest change te % change MSCI LatAm 3,635.41 0.06 0.92 Brazil Bovespa 58,404.10 0.14 2.91 Mexico IPC 39,991.19 -0.13 7.86 Chile IPSA 4,174.47 0.2 -0.07 Chile IGPA 20,293.87 0.22 0.82 Argentina MerVal 2,371.61 -0.43 -3.70 Colombia IGBC 14,184.67 -0.45 11.99 Peru IGRA 20,536.23 0.21 5.46 Venezuela IBC 294,184.47 1.47 151.36
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