EMERGING MARKETS-Latam stocks flat on U.S. deal, OGX volatile

Thu Oct 17, 2013 10:26am EDT

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SAO PAULO, Oct 17 (Reuters) - Key Latin American stock
indexes were little changed on Thursday in a volatile session as
investors re-evaluated a budget deal in the United States and
focused on the lasting effects of a 16-day government shutdown
in the world's largest economy. 
    Brazil's Bovespa index was flat after closing at a
four-and-a-half month high on Wednesday. Shares of OGX Petróleo
e Gás Participações SA see-sawed. The stock had risen
sharply in the past two days on hopes of an imminent cash
injection as part of a restructuring plan.  
    After swinging from the index's biggest loser to its biggest
gainer, OGX's shares settled in around 0.47 reais, unchanged
from its previous close.
    Brazil's top retailer Grupo Pão de Açúcar rose
0.13 percent after its third-quarter earnings beat analyst
forecasts and jumped 70 percent due to robust sales growth and
streamlined operations. 
    Though initially celebrated by markets, investors are now
realizing the legislation signed overnight by President Barack
Obama to fund the government until Jan. 15 and extend a debt
ceiling deadline to Feb. 7 did not resolve the differences over
spending and deficits in Congress.  
    Mexico's benchmark IPC index fell 0.2 percent.
Telecom company America Movil was among the leading
losers, down 0.64 percent, after the head of the Dutch telecoms
group KPN said the Mexican group might still
participate in talks aimed at a KPN takeover. 
    Chile's IPSA fell 0.56 percent.
    
    Latin America's key stock indexes at 1408 GMT:
    
 Stock                       Latest        daily %   YTD %
  indexes                                  change    change
 MSCI LatAm                  3,481.19      0.5       -8.79
                                                     
 Brazil Bovespa              55,971.34     -0        -8.17
 Mexico IPC                  40,272.94     -0.2      -7.85
 Chile IPSA                  3,834.80      -0.56     -10.85
 Chile IGPA                  18,898.00     -0.51     -10.31
 Argentina MerVal            5,251.21      -0.1      83.98
 Colombia IGBC               14,304.12     0.04      12.94
 Peru IGRA                   15,590.79     0.33      -24.42
 Venezuela IBC               1,869,500.70  -1.35     296.55
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