EMERGING MARKETS-Brazil stocks drop on Syria worries
* Putin does not rule out support for Syria strike * Commodity firms weigh down Brazil's Bovespa * Bovespa falls 0.72 pct, Mexico's IPC index flat SAO PAULO, Sept 4 (Reuters) - Brazil's benchmark stock index dropped on Wednesday as shares of commodity exporters fell on increasing concerns about a potential military strike against Syria. Chile's bourse edged higher, while Mexico's IPC index was little changed. Russian President Vladimir Putin, a key critic of U.S.-led plans to attack Syrian President Bashar al-Assad's forces following their alleged use of poison gas, said on Wednesday that he did "not rule out" his support if the use of gas were proven and the strike won backing from the U.N. Security Council. The remarks increased investor concern about an impending strike and its potential to disrupt the global economy, sapping demand for riskier assets and driving demand for safe-haven investments like the U.S. dollar. Brazil's benchmark Bovespa stock index fell by the most in more than a week, shedding 0.72 percent to 51,253.31. Shares of commodity exporters, which often track the outlook for global economic growth, contributed most to the decline. Shares of iron-ore mining giant Vale SA fell 0.84 percent while those of state-run oil firm Petroleo Brasileiro SA , known as Petrobras, slipped 0.54 percent. Homebuilder Cyrela Brazil Realty SA rose 0.5 percent. Cyrela late on Tuesday approved a plan to repurchase up to 8.1 percent of the firm's total stock in circulation, totaling about 22.38 million shares. Mexico's IPC index erased early losses to trade little changed from Tuesday's closing levels. Shares of mining firm Grupo Mexico lost 2 percent. The company late on Tuesday lowered its estimate for copper production this year by 3.5 percent from previous forecasts. Shares of bottler Coca-Cola Femsa edged 0.1 percent lower. The firm said on Tuesday it was still open to more acquisitions after its $1.9 billion purchase of Brazil's Spaipa last week. Chile's IPSA index rose for the fourth session in five, led by a 1.9 percent gain in LATAM Airlines Group . Latin America's key stock indexes at 1356 GMT: Stock indexes daily % YTD % Latest change change MSCI LatAm 3,060.61 0.72 -19.99 Brazil Bovespa 51,253.31 -0.72 -15.91 Mexico IPC 39,547.27 0.01 -9.51 Chile IPSA 3,619.34 0.16 -15.86 Chile IGPA 17,950.83 0.13 -14.80 Argentina MerVal 0.00 0 -100.00 Colombia IGBC 13,736.31 0.01 -6.66 Peru IGRA 16,896.28 -0.19 -18.10 Venezuela IBC 1,365,401.80 0 189.63
- North Korea says Kim's powerful uncle dismissed for 'criminal acts'
- Thai PM calls snap election, protesters press on |
- Protesters fell Lenin statue, tell Ukraine's president 'you're next'
- Singapore hit by rare outbreak of rioting, 27 arrested |
- Venezuela's Maduro to raise pressure on business after local vote