EMERGING MARKETS-Latam stocks up on U.S. data, Petrobras choppy
* Brazil Bovespa gains 0.91 pct, Mexico IPC up 0.78 pct SAO PAULO, Oct 22 (Reuters) - Latin American stocks rose on Tuesday after weaker-than-expected jobs numbers from the United States boosted hopes the Federal Reserve would further delay the tapering of its massive bond-buying program. The MSCI Latin American stock index rose 0.97 percent, its biggest intraday gain in nearly two weeks. Data on Tuesday showed U.S. employers added fewer workers than expected in September, suggesting the world's largest economy may not be strong enough to warrant a slowdown in the Fed's economic stimulus program, which has supported demand for global equities. Brazil's benchmark Bovespa stock index gained 0.91 percent, led by shares of commodities exporters, which tend to attract foreign investors looking for exposure to the local market due to their high liquidity. Iron ore exporter Vale SA advanced 1.5 percent, contributing most to the index's rise, while steelmaker Companhia Siderurgica Nacional SA climbed 3 percent. Preferred shares of state-run oil company Petroleo Brasileiro SA, known as Petrobras, swung widely throughout the session, trading at nearly unchanged levels in the early afternoon. The stock rallied 5.3 percent in the previous session following the conclusion of a Brazilian offshore oil field auction. Petrobras, as part of a larger consortium, won the auction under terms that give it the largest share of revenue allowable by law, the rest going to the government. "We had a positive reaction yesterday and people who speculated on the auction are taking profits," said Rudimar Joner, a trader with Banrisul Corretora in Porto Alegre, Brazil. Joner cautioned that investors are also thinking about the investment requirements of the offshore project and the resulting drain on Petrobras' finances, which could put pressure on the shares. Mexico's IPC index erased the previous session's losses, adding 0.78 percent to 40,661.83. Mining firm Grupo Mexico advanced 1.25 percent, contributing most to the index's gains, though shares of telecommunications firm America Movil, controlled by billionaire Carlos Slim, fell 0.6 percent. Chile's IPSA index rallied for the third straight session, rising 0.19 percent as shares of regional energy firm Endesa Chile climbed 1.3 percent. Latin America's key stock indexes at 1427 GMT: Stock indexes daily % YTD % Latest change change MSCI LatAm 3,508.42 0.97 -8.51 Brazil Bovespa 56,589.11 0.91 -7.16 Mexico IPC 40,661.83 0.78 -6.96 Chile IPSA 3,899.08 0.19 -9.35 Chile IGPA 19,175.73 0.17 -8.99 Argentina MerVal 5,674.00 0.2 98.79 Colombia IGBC 14,378.78 -0.04 -2.29 Peru IGRA 16,120.86 1.28 -21.85 Venezuela IBC 1,949,702.9 -0.71 313.57
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