EMERGING MARKETS-Latam stocks cautiously higher on U.S. debt hopes

Fri Oct 11, 2013 7:55pm EDT

MEXICO CITY, Oct 11 (Reuters) - Latin American stocks rose
on Friday as investors bet that the U.S. Congress will reach an
agreement to avert a debt default. 
    President Barack Obama and congressional Republican leaders
inched toward resolving their fiscal impasse on Friday, but
struggled to agree on the length and terms of a short-term deal
to increase the U.S. debt limit and reopen the government.
    * Mexico's benchmark IPC index gained 1.2 percent,
boosted by a 2.62 percent rise in shares of telecom company
America Movil. The index is still down more than 6
percent this year. 
    * Brazil's benchmark Bovespa index gained 0.29
percent, supported on Friday by gains in miner Vale 
which saw shares rise 1.51 percent. 
    * Reuters reported on Friday that Vale has revived talks
with Glencore Xstrata over a potential combination of
the mining groups' nickel operations in Canada's Sudbury basin,
to cut costs as prices for the metal languish. 
    * Chile's main index rose 0.46 percent on gains in
retailer Cencosud.  
    Latin America's key stock indexes at 2317 GMT:
 Stock indexes                                daily %      YTD %
                                 Latest        change     change
 MSCI LatAm                       3,414.02       0.81     -10.11
 Brazil Bovespa                  53,149.62       0.29     -12.80
 Mexico IPC                      40,975.37        1.2      -6.25
 Chile IPSA                       3,837.16       0.46     -10.79
 Chile IGPA                      18,876.65       0.39     -10.41
 Argentina MerVal                 5,241.88       1.47      83.65
 Colombia IGBC                   14,240.31       0.59      -3.23
 Peru IGRA                       15,460.93      -0.18     -25.05
 Venezuela IBC                 1,829,905.3       2.58     288.15
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