* Worries about slow U.S. budget talks weigh
* Brazil Bovespa dips 0.26 pct, Mexico IPC down 0.41 pct
MEXICO CITY, Dec 13 Latin American stocks
slipped on Thursday as worries over the lack of a budget deal in
the United States hurt demand for riskier assets.
Brazilian stocks wilted for the second session in a row as
did Mexican equities, which dipped further back from a record
high hit on Tuesday.
Anxiety about the drawn-out talks between U.S. lawmakers to
avert automatic tax hikes and spending cuts, set to begin in
2013, grew after downbeat remarks from Republican House Speaker
Investors fear the so-called "fiscal cliff" could tip the
world's biggest economy into recession. The United States is
Mexico's main export destination while it is a top trading
partner with the rest of the region.
Mexico's IPC index fell 0.41 percent while Brazil's
Bovespa lost 0.26 percent. Chile's main gauge
edged down 0.07 percent after two days of gains.
Brazil's state-controlled oil company Petrobras
shed 1.41 percent while miner Grupo Mexico lost
A Reuters poll showed Brazilian stocks will rise over 7
percent in 2013 while Mexican stocks could climb nearly 10
percent to a new record high next year.
But Mexican shares could be vulnerable to profit taking in
the short term. A technical indicator of the IPC known as the
relative strength index remained in "overbought" territory,
indicating stocks may fall further in coming sessions.
Latin America's key stock indexes at 1403 GMT:
Stock indexes daily % year-to
Latest change date %
MSCI LatAm 3,723.19 -0.22 3.36
Brazil Bovespa 59,316.75 -0.26 4.52
Mexico IPC 43,006.31 -0.41 15.99
Chile IPSA 4,230.82 -0.07 1.28
Chile IGPA 20,717.17 -0.03 2.92
Argentina MerVal 2,610.03 -0.03 5.99
Colombia IGBC 14,592.83 -0.25 15.22
Peru IGRA 20,158.65 -0.56 3.52
Venezuela IBC 473,170.03 1.44 304.29