EMERGING MARKETS-Brazil stocks rise on German data

* German investor sentiment nears 3-year high
* Commodities firms lead gains on Brazil's Bovespa
* Bovespa rises 0.5 pct, Mexico IPC up 0.56 pct

By Asher Levine
SAO PAULO, Feb 19 (Reuters) - Brazilian stocks rose on
Tuesday as an improvement in German investor sentiment boosted
appetite for the most widely traded commodities producers.
Mexico's IPC index edged higher for the second day in
three, while Chile's bourse remained flat.
Shares rose after data on Tuesday showed German investor and
analyst sentiment rose to a nearly three-year high in February,
suggesting a recovery in Europe's largest economy may be gaining
steam.
The data boosted appetite for shares of commodities firms,
whose performance is often linked to global economic growth
sentiment.
Brazil's benchmark Bovespa stock index snapped a
four-day losing streak, gaining 0.5 percent to 57,899.28.
Preferred shares of iron-ore mining giant Vale SA
gained 1 percent, contributing most to the index's rise, while
state-controlled oil company Petroleo Brasileiro SA,
known as Petrobras, added 0.6 percent.
"The data today suggests things abroad are recovering," said
Adriano Moreno, an analyst with Futura Corretora in Salvador,
Brazil. "The Brazilian market has fallen far behind many
others...so we see the Bovespa with room to catch up a bit."
Shares of telecommunications firm Grupo Oi SA
rose 5 percent after the company said on Tuesday that it expects
sales and operating income to pick up speed in 2013, despite
having posted fourth-quarter net profit that fell below
analysts' estimates.
Shares of Braskem SA, the largest petrochemical
company in Latin America, soared 6.55 percent - their most in
over five months - after Credit Suisse analysts changed their
rating on the shares to "outperform" from "neutral," citing
potential tax benefits for naphtha purchases and possible import
tax hikes on polypropylene.
Preferred shares of steelmaker Usinas Siderúrgicas de Minas
Gerais SA were little changed after the company
posted a bigger-than-expected fourth-quarter loss late on
Monday.
"There were also some good things in Usiminas' results,"
added Moreno, citing strong iron ore sales and an improved
outlook. "The stock had also fallen a lot recently and the
results were already priced in."
Mexico's IPC index added 0.56 percent to 44,389.32 as
shares of telecommunications firm America Movil rose
0.7 percent.
Chile's IPSA index was little-changed at 4,599.50
points as a 0.38 percent decline in industrial conglomerate
Copec partially offset a 0.83 percent rise in retailer
Falabella

Latin America's key stock indexes at 1449 GMT:
Stock indexes daily % YTD %
Latest change change
MSCI LatAm 3,894.90 0.39 2.16

Brazil Bovespa 57,899.28 0.5 -5.01

Mexico IPC 44,389.32 0.56 1.56

Chile IPSA 4,599.50 0.05 6.93

Chile IGPA 22,364.60 0.07 6.14

Argentina MerVal 3,304.61 1.24 15.78

Colombia IGBC 14,923.84 -0.33 1.41

Peru IGRA 21,035.45 -0.34 1.97

Venezuela IBC 605,476.50 0.4 28.43