REFILE-EMERGING MARKETS-Brazil commodities stocks gain on China data

Mon Sep 9, 2013 7:35pm EDT

Related Topics

* China reports encouraging Aug trade data
    * Vale, Petrobras boost Brazil's Bovespa
    * Bovespa up 0.28 pct, Mexico IPC adds 1 pct

    SAO PAULO, Sept 9 (Reuters) - Shares of Brazilian commodity
exporters rose on Monday, boosted by strong trade data from
China, a key market for Brazilian raw materials.
    Mexico's IPC index rose by its most in a week, while
Chile's bourse rallied for a fourth straight day.
    Trade data released over the weekend showed China's overall
imports and exports in August were stronger than expected,
suggesting the world's top commodity buyer may have avoided a
sharp slowdown. 
    China is Brazil's biggest trading partner and a key
purchaser of Latin American exports such as iron-ore, soy,
copper and petroleum.
    "The market is rising broadly because the outlook for the
international economy is improving," said Alexandre Ghirghi, a
strategist with Metodo Investimentos in Sao Paulo.
    Brazil's benchmark Bovespa stock index rose for the
fourth straight day, boosted by a 2 percent gain in shares of
iron-ore mining firm Vale SA, which counts China as
its biggest customer.
    Shares of state-run oil company Petroleo Brasileiro SA
, known as Petrobras, rose 1 percent, while lender
Banco Bradesco added 1.8 percent.
    Shares of OGX Petroleo e Gas Participacoes SA,
fell 15.4 percent to 0.44 reais after controlling shareholder
Eike Batista on Monday questioned the validity of the company's
request that he start contributing his own money to the
debt-laden firm. 
    Mexico's IPC index rose 1 percent, a day after the
government put forward a proposal for fiscal reform that was
less aggressive than many traders had expected. 
    Shares of lender Grupo Financiero Banorte rose
2.6 percent, while retailer Wal-Mart de Mexico 
added 2.8 percent.
    Chile's IPSA index gained 1.2 percent to 3,856.55.
It has not closed above this level since late July.
    Shares of LATAM Airlines Group rose nearly 5
percent, contributing most to the index's gains, while
conglomerate Copec advanced 1.6 percent.
    
    Latin America's key stock indexes at 1421 GMT:
 Stock indexes                            daily %     YTD %
                                Latest     change    change
 MSCI LatAm                    3,242.12      1.71    -16.06
                                                   
 Brazil Bovespa               53,899.53      0.28    -11.57
                                                   
 Mexico IPC                   40,312.66         1     -7.76
                                                   
 Chile IPSA                    3,856.55      1.51    -10.34
                                                   
 Chile IGPA                   18,915.60       1.2    -10.23
                                                   
 Argentina MerVal              4,227.02      1.08     48.09
                                                   
 Colombia IGBC                13,801.27      0.26     -6.21
                                                   
 Peru IGRA                    16,983.22       0.1    -17.67
                                                   
 Venezuela IBC               1,430,323.         0    203.40
                                      6
FILED UNDER: