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