EMERGING MARKETS-Brazil stocks boosted by Alcoa results

Wed Jan 9, 2013 11:00am EST

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* Electric utilities rebound as policymakers meet
    * Brazil Bovespa gains 1 pct, Mexico IPC up 0.29 pct

    By Asher Levine and Danielle Assalve
    SAO PAULO, Jan 9 (Reuters) - Brazilian stocks rose along
with global markets on Wednesday after aluminium giant Alcoa
 opened the U.S. earnings season with an optimistic
outlook for global demand, drawing bargain hunters to shares of
commodity exporters and homebuilders. 
    Retailers led Mexico's IPC index to a new record
high, while Chile's bourse remained little changed.
    Investors welcomed the positive impact of Alcoa's results,
announced late Tuesday, as a good opportunity to pick up
Brazilian shares following a three-day slide of 3.5 percent in
the benchmark Bovespa index.
    But Newton Rosa, chief economist with SulAmerica
Investimentos in Sao Paulo, said, "the trend is still weak."
    The Bovespa rose 1 percent to 61,739.95, with shares of
iron-ore mining giant Vale adding 0.72 percent and
contributing the most to the index's gain.
    China, Vale's top customer, reports trade data on Thursday.
    "The data has been better in recent months, which has been
demonstrated in iron-ore prices that have risen a lot recently,"
said Andre Querne, a partner with Rio Gestao de Recursos in Rio
de Janeiro.
    An index of Brazilian electric utility shares 
rebounded on Wednesday after notching its worst daily loss in
nearly four months in the previous session over concerns that
low water levels in reservoirs could lead to energy rationing.
    President Dilma Rousseff cut short her vacation on Tuesday
to deal with the crisis at a meeting with energy officials on
Wednesday. She is expected to sign off on their proposals.
 
    Mexico's IPC index rose for the fourth session in
five, gaining 0.29 percent to 44,699.61 and reaching a new
record high.
    Retailers led gains in the IPC, with Wal-Mart de Mexico
 up 1 percent and supermarket chain Chedraui
 advancing 0.87 percent. 
    Chile's IPSA index was little-changed at 4,406.89
points, as a 1 percent gain by steel and iron-ore producer CAP
 offset a 0.5 percent fall by retailer Falabella
.

    Latin America's key stock indexes at 1514 GMT:
 Stock indexes                          daily %     YTD %
                          Latest         change    change
 MSCI LatAm                  3,901.86      0.77      1.96
                                                 
 Brazil Bovespa             61,739.95         1      1.29
                                                 
 Mexico IPC                 44,699.61      0.29      2.27
                                                 
 Chile IPSA                  4,406.89      0.02      2.45
                                                 
 Chile IGPA                 21,539.93       0.1      2.23
                                                 
 Argentina MerVal            3,061.94      1.45      7.28
                                                 
 Colombia IGBC              14,713.02      0.56     -0.02
                                                 
 Peru IGRA                  21,606.98      0.29      4.74
                                                 
 Venezuela IBC             473,272.63         0      0.39
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