EMERGING MARKETS-Brazil stocks fall on China data

Mon May 13, 2013 12:57pm EDT

* China industrial production disappoints in April
    * Gafisa shares drop following Q1 results
    * Brazil Bovespa falls 0.59 pct, Mexico IPC up 0.18 pct

    By Asher Levine and Danielle Assalve
    SAO PAULO, May 13 (Reuters) - Brazilian stocks fell for the
fourth straight session on Monday following weak industrial
output data from key trade partner China.
    Shares fell after data showed Chinese industry, a major
purchaser of Latin American raw materials such as iron-ore,
petroleum and copper, grew less than expected in April, sparking
concerns that economic growth in Brazil's No. 1 trade partner
may be faltering. 
    Brazil's benchmark Bovespa stock index fell 0.59
percent to 54,784.15, as shares of the most widely-traded
commodities shares weighed.
    Shares of state-run oil company Petroleo Brasileiro SA
, known as Petrobras, dropped 2.06 percent, while
those of iron-ore mining firm Vale SA fell 1.8
percent.
    "Beyond the (macroeconomic outlook), we are in a week that
is going to be heavily influenced by corporate results," said
Luiz Roberto Monteiro, a broker with Renascença in Sao Paulo,
adding that investors will avoid taking large positions in
certain stocks until earnings are released.
    Shares of homebuilder Gafisa SA dropped 4.5
percent after the company posted a worse-than-expected
first-quarter net loss as sales cancellations at its low-cost
Tenda unit and mid-range Gafisa division dragged on
profitability. 
    Rival homebuilders Cyrela Brasil Realty SA and
MRV Engenharia e Participacoes SA both gained
slightly under 1 percent. The companies are set to report
results afer market close on Monday.
    Oil company HRT Participações em Petroleo SA 
plunged 14.5 percent after former Chief Executive Officer Marcio
Mello resigned on Friday, just as an offshore oil drilling
campaign began in Namibia. On Monday the company named Milton
Romeu Frank to replace Mello. 
    Mexico's IPC index edged higher for the second
straight session, adding 0.18 percent to 41,816.81.
    Telecommunications firm America Movil, controlled
by billionaire Carlos Slim, rose 0.8 percent. retail giant
Wal-Mart de Mexico added 1.65 percent.
    Chile's IPSA index dropped for the third straight
session, losing 0.46 percent to 4,299.95 as mobile phone company
Entel slipped 4.8 percent.
   
    Latin America's key stock indexes at 1616 GMT:
    
 Stock indexes                            daily %     YTD %
                                Latest     change    change
 MSCI LatAm                    3,734.10     -0.15     -1.53
                                                   
 Brazil Bovespa               54,784.15     -0.59    -10.12
                                                   
 Mexico IPC                   41,816.81      0.18     -4.32
                                                   
 Chile IPSA                    4,299.95     -0.46     -0.03
                                                   
 Chile IGPA                   21,111.20     -0.35      0.19
                                                   
 Argentina MerVal              3,616.70     -2.58     26.71
                                                   
 Colombia IGBC                13,190.88     -0.99    -10.36
                                                   
 Peru IGRA                    17,883.63      0.46    -13.31
                                                   
 Venezuela IBC               698,861.56      2.08     48.24
FILED UNDER:
A couple walks along the rough surf during sunset at Oahu's North Shore, December 26, 2013. REUTERS/Kevin Lamarque

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