EMERGING MARKETS-Latam stocks edge higher, volumes low

Fri Dec 27, 2013 10:44am EST

* Brazil Bovespa up 0.2 pct, Mexico IPC rises 0.25 pct

    SAO PAULO, Dec 27 (Reuters) - Latin American stocks advanced
slightly on Friday, tracking gains in markets abroad, though
trading volumes remained light due to year-end holidays.
    The MSCI Latin American stock index rose
0.28 percent to 3,190.21. The index has remained rangebound
between 3,100 and 3,200 points for the past two weeks. 
    Brazil's benchmark Bovespa stock index nearly erased
the previous session's 0.26 percent loss, rising 0.2 percent to
51,321.98 as preferred shares of heavily-weighted mining firm
Vale SA climbed 1.3 percent.
    Shares of electric utility Companhia Energetica de Minas
Gerais, known as Cemig, rose 1.2 percent a day after
the firm said it plans to pay 1.48 billion reais ($630 million)
in preferred-share dividends with 296 million in new preferred
shares in the company. 
    Shares of state-run oil firm Petroleo Brasileiro SA
, known as Petrobras, were little-changed after the
company said a fire at one of its offshore oil platforms cut
    Mexico's IPC index rose 0.25 percent to 42,648.55 but
continued to struggle against technical resistance near the
42,500 level. The index has failed to break decisively through
the level on two previous attempts since the end of November.
    Shares of broadcaster Grupo Televisa rose 0.5
percent, contributing most to the index's gains, while mining
firm Grupo Mexico climbed 0.6 percent.
    Chile's IPSA index rose 0.46 percent to 3,669.64
points as shares of retailer Cencosud added 1.69

    Latin America's key stock indexes at 1508 GMT:
 Stock indexes         Latest         daily %    YTD %
                                      change     change
 MSCI LatAm            3,190.21       0.28       -16.23
 Brazil Bovespa        51,321.98      0.2        -15.80
 Mexico IPC            42,648.55      0.25       -2.42
 Chile IPSA            3,669.64       0.46       -14.69
 Chile IGPA            18,095.31      0.33       -14.12
 Argentina MerVal      5,319.72       0.76       86.38
 Colombia IGBC         13,012.05      -0.18      -11.58
 Peru IGRA             15,670.59      0.5        -24.04
 Venezuela IBC         2,736,584.73   0.4        480.48