EMERGING MARKETS-Latam stocks rally as bargain-hunters pile in

Thu Jul 4, 2013 5:26pm EDT

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* Brazil's Bovespa rises for first session in five
    * MPX Energia jumps after Batista steps down as chairman
    * Bovespa rises 1.6 pct, Mexico IPC up 0.91 pct


    By Asher Levine and Luc Cohen
    SAO PAULO/MEXICO CITY, July 4 (Reuters) - Latin American
stocks closed higher on Thursday, with Brazil's Bovespa gaining
for the first session in five as bargain-hunters picked up
shares of commodities producers OGX and Vale to take advantage
of recent losses.
    Mexico's IPC index rose 0.91 percent, while Chile's
bourse snapped a three-day decline. Traders said a
market holiday in the United States kept volumes low.
    * Brazil's benchmark Bovespa stock index rebounded
from a four-day, more than 5 percent slide, rising 1.6 percent
to 45,763.16 points. Mining firm Vale led gains, with
its share price climbing 3.73 percent. 
    * Shares of OGX Petroleo e Gas Participacoes SA,
the oil company controlled by Brazilian billionaire Eike
Batista, jumped more than 20 percent after reporting an increase
in oil output in June from May. 
    * The shares had fallen 58 percent over the previous five
sessions after the company said it was pulling out of some
offshore oil blocks.
    * Shares of power generator MPX Energia SA, also
part of Batista's Grupo EBX conglomerate, jumped more than 10
percent after the company said Batista was stepping down as
chairman and it would sell 800 million reais of stock rather
than hold a planned share offering. 
    * Mexican media giant Grupo Televisa led gains
in the IPC with a 2.26 percent rise. The IPC index closed
at 41,200.40 points.
    * Trading volumes in Mexico and across the region were low
due to the U.S. Independence Day holiday. 
    * Despite the thin volume, Luis Rodriguez, head of analysis
at brokerage firm Finamex, attributed the IPC's gains to signals
the European central bank would continue its monetary stimulus
measures.  
    * Chile's IPSA index rose for the first session in
four, adding 0.48 percent as shares of lender Banco Santander
Chile rose 2.05 percent, driving the index north. 
    
    Latin America's key stock indexes at 2100 GMT:
    
 Stock indexes                            daily %  year-to-da
                         Latest            change        te %
                                                       change
 MSCI LatAm                    3,109.29      1.22      -18.13
                                                   
 Brazil Bovespa               45,763.16       1.6      -24.92
                                                   
 Mexico IPC                   41,200.40      0.91       -5.73
                                                   
 Chile IPSA                    3,866.23      0.48      -10.12
                                                   
 Chile IGPA                   19,168.68      0.37       -9.03
                                                   
 Argentina MerVal              3,096.11      2.41        8.47
                                                   
 Colombia IGBC                12,727.99      0.43        0.49
                                                   
 Peru IGRA                    15,415.37     -0.23      -25.27
                                                   
 Venezuela IBC                     0.00         0     -100.00
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