EMERGING MARKETS-Latam stocks rise as Fed worries ease; OGX lifeline

Fri Sep 6, 2013 5:12pm EDT

Related Topics

* U.S. job growth disappoints, Fed may continue stimulus
    * OGX shares soar in anticipation of cash injection
    * Brazil's Bovespa rises 2.67 pct, Mexico's IPC up 0.58 pct

    MEXICO CITY, Sept 6 (Reuters) - Latin American stocks rose
on Friday as weak U.S. jobs data raised hopes that the Federal
Reserve would continue its monetary stimulus, while shares of
Brazilian oil company OGX soared on news it expects a cash
injection from its controlling shareholder.
    Chile's IPSA index rose for the third straight day,
while Mexico's IPC index also jumped.
    Data on Friday showed U.S. job growth was less than expected
in August, complicating the Fed's plans to cut back its
extraordinary monetary stimulus. 
    Brazil's benchmark Bovespa stock index rose for the third
straight day, adding 2.67 percent.
    Shares of airline Gol Linhas Aereas SA, which
often track currency movements due to dollar-indexed fuel costs,
advanced 13.76 percent.
    Shares of oil company OGX Petróleo e Gás Participações SA
 jumped nearly 30 percent after the company said on
Friday it has called in a promise from controlling stakeholder
Eike Batista to start injecting $1 billion into his empire's
flagship company while it renegotiates debt. 
    Mexico's IPC index gained 0.58 percent after Mexico's
central bank unexpectedly cut interest rates on Friday to an
historic low. 
    Shares of broadcaster Grupo Televisa rose 3.84
percent, contributing most to the index's gains, while telecom
company America Movil lost 1.77 percent. 
    Chile's IPSA index rose for the sixth session in
seven, adding 2.39 percent to 3,798.32 points, its highest level
in a month.
    Shares of Banco Santander Chile added 4.7 percent,
while those of conglomerate Copec rose 2.92 percent.
    
    Latin America's key stock indexes at 2022 GMT:
    
 Stock indexes                           Daily pct  Year-to-da
                        Latest              change      te pct
                                                        change
 MSCI LatAm                   3,189.00        1.69      -17.43
                                                    
 Brazil Bovespa              53,749.42        2.67      -11.82
                                                    
 Mexico IPC                  39,915.06        0.58       -8.67
                                                    
 Chile IPSA                   3,799.28        2.41      -11.67
                                                    
 Chile IGPA                  18,691.57        2.23      -11.29
                                                    
 Argentina MerVal             4,181.58        0.13       46.50
                                                    
 Colombia IGBC               13,764.88       -0.31        8.68
                                                    
 Peru IGRA                   16,966.79        1.19      -17.75
                                                    
 Venezuela IBC            1,430,323.64        2.53      203.40
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