EMERGING MARKETS-Latam stocks rally ahead of earnings reports
* Oi, Petrobras, Vale lead Brazil shares' gains * Bovespa due to break six-month losing streak * Brazil's Bovespa up 2.48 pct, Mexico's IPC gains 0.57 pct MEXICO CITY, July 22 (Reuters) - Latin American stocks gained on Monday as investors anticipated the release of second-quarter corporate earnings reports, with key bourses advancing their recent rally. Brazil's benchmark Bovespa index jumped as commodity stocks performed well, while Mexico's IPC index and Chile's bourse also edged higher. * The Bovespa gained 2.48 percent to close at 48,574.09 points. Shares in telecommunications company Oi rose 15.62 percent, leading gains. * Investors snatched up cheap Brazilian stocks, some valued at lows not seen since 2008, at the beginning of earnings season. * Commodity stocks also boosted the index, with state-run oil giant Petrobras gaining 2.64 percent, iron ore producer Vale rising 1.86 percent, and embattled oil company OGX Petroleo climbing 6 percent. * Brazil stocks are on track to gain more than 2 percent this month after falling to a more than four-year low in early July. It would be the index's first monthly gain since December 2012. * Mexican stocks rose 0.57 percent to close at 40,117.67 points, buoyed by investor confidence days before many major Mexican companies are set to release second quarter earnings. * Telecommunications giant America Movil, controlled by billionaire Carlos Slim, rose 1.38 percent, leading gains. America Movil's report is due out on Thursday. * Chile's IPSA index posted modest gains, rising 0.19 percent to close at 3,859.92 points, buoyed by a 1.33 percent rise in shares of energy and forestry conglomerate Empresas Copec. Latin America's key stock indexes at 2046 GMT: Stock indexes Daily YTD pct Latest pct change change MSCI Latam 3,213.32 1.13 -15.39 Brazil Bovespa 48,574.09 2.48 -20.31 Mexico IPC 40,117.67 0.57 -8.21 Chile IPSA 3,859.92 0.19 -10.26 Chile IGPA 19,141.03 0.13 -9.16 Argentina MerVal 3,450.45 1.18 20.89 Colombia IGBC 13,333.48 -1.10 -9.39 Peru IGRA 15,524.31 0.69 -24.75
DAVOS, Switzerland - Central banks have done their best to rescue the world economy by printing money and politicians must now act fast to enact structural reforms and pro-investment policies to boost growth, central bankers said on Saturday.