EMERGING MARKETS-Latam stocks track Wall Street, corporate earnings higher

Fri Jan 25, 2013 5:38pm EST

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* Brazil's Bovespa closed for holiday
    * Procter & Gamble results above expectations
    * Mexico's IPC, Chile's IPSA both rise

    By Lorena Segura
    MEXICO CITY, Jan 25 (Reuters) - Latin American stocks edged upward on
Friday, tracking gains in U.S. markets on the back of robust corporate earnings
reports and economic data that seemed to show the troubled U.S. housing market
has rebounded.
    Brazilian markets were closed for a public holiday. 
    Meanwhile, Mexico's IPC stock index rose 0.32 percent to 45,575.86,
ending the week up 0.8 percent, and closing yet again at a record high. Chile's
IPSA index was up nearly half a percent 4,504.99 points.
    Nonetheless, analysts warned that profit-taking may lie ahead as investors
looked to leverage the IPC's record highs. 
    "We see the market with high valuations and I think that this rally could
continue before we begin to enter a period of consolidation," said Carlos
Gonzalez, head of strategy at Monex financial group in Mexico City.
    Telecommunications giant America Movil, owned by the world's
richest man, the Mexican Carlos Slim, rose 0.82 percent driving gains in the
index, while conglomerate Alfa lost 0.96 percent.
    U.S. stocks soared on Friday with the benchmark S&P 500 closing above 1,500
for the first time in more than five years, after Procter & Gamble 
profits rose above expectations.  
    Adding to the optimism, sales of new U.S. single-family homes fell in
December but rose in 2012 to the highest level since 2009, a sign the U.S.
housing market turned a corner last year. 
    In Chile, the blue-chip IPSA index ended the week down 0.518, its biggest
weekly loss this year. Retailer Falabella added 1 percent, while bank
Santander Chile lost 0.59 percent.
    
    Latin America's key stock indexes at 2213 GMT:
    
 Stock indexes                     Latest              Pct
                                                    change
                                                          
 MSCI Latam                          3,936.71        -0.13
                                                  
 Brazil Bovespa                     61,169.83        -1.29
                                                  
 Mexico IPC                         45,575.86         0.32
                                                  
 Chile IPSA                          4,504.99         0.43
                                                  
 Chile IGPA                         21,966.79         0.39
                                                  
 Argentina MerVal                    3,339.77          0.7
                                                  
 Colombia IGBC                      14,992.67         0.62
                                                  
 Peru IGRA                          21,282.80        -1.01
                                                  
 Venezuela IBC                     490,561.59         0.32
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