Chile stocks slip to 8-week low, peso falls with copper

(Adds analyst comments, closing stock figures)

SANTIAGO, Dec 3 (Reuters) - Chilean stock indexes closed at an 8-week low on Wednesday after disappointing U.S. jobs and service data, while the peso fell for a third straight session as prices for leading export copper fell.

The blue-chip IPSA index .IPSA retreated 0.62 percent to close at 2,303.51 points, while the all-market IGPA .IGPA dipped 0.48 percent to 11,111.40 points, preliminary closing figures showed.

Weak U.S. data confirmed the economic slump prevailed, with the Institute for Supply Management reporting a November non-manufacturing index at the worst in its 11-year history, while employers cut another quarter million jobs in the same month, according to a private-sector report.

"It seems any data that comes out is bad. That's what's causing volatility and nervousness in U.S. markets," said Felipe Cruz, a trader with the CorpCapital brokerage. "Trade here is quiet because of the volatility and ahead of domestic inflation figures tomorrow."

Economists in a Reuters poll forecast a decline in prices of 0.25 percent for November, which would be the first negative figure in 21 months and would open the door to lower interest rates in coming months, a move that would favor stocks.

Losses on the Santiago Stock Exchange were led by raw materials and consumer-related shares.

Percentage losses were led by No. 1 brewer CCU CCU.SN, as its shares slumped 7.37 percent, while leading diversified regional retailer Falabella FAL.SN fell 1.32 percent.

Giant wood pulp exporter Copec COP.SN fell 1.61 percent, while steelmaker and iron ore exporter CAP CAP.SN slid 3.56 percent.

The peso CHILJCLP=CL weakened 0.52 percent to close at 674.00/674.50 per dollar compared with Tuesday's close at 670.50/671.00.

"Global markets were weak for most of the morning even though they cut losses before the peso closed," one trader said. "But we also had a sustained fall in copper."

Chile is the world's leading exporter of copper, which is a pillar of the local economy, and emerging currencies and commodities, indicators of investor risk appetite, tend to move in the same direction.

The dollar has gained about 35 percent versus the peso this year, as global investors shed volatile commodities and emerging currencies in favor of bonds. (Reporting by Lisa Yulkowski and Froilan Romero)