* Mario Draghi comments renew fears in euro zone
* Brazil Bovespa falls 0.98 pct, Mexico IPC down 1.21 pct
By Danielle Assalve and Jean Arce
SAO PAULO/MEXICO CITY Feb 7 Latin American
stocks fell on Thursday, tracking losses on Wall Street, after
European Central Bank President Mario Draghi said there were
more negative economic risks than positive ones facing the
troubled euro zone.
The specter of Europe's economic concerns returned, jolting
global markets after Draghi said the exchange rate was important
to growth and price stability, which investors took as a sign
the bank is concerned about the euro's advance in recent days.
Latin American stocks followed U.S. markets lower, with the
S&P 500 down 0.18 percent, and the Dow Jones off
Mexico's IPC index, which has added 11 percent since
mid-November, saw its biggest one-day drop in 13 weeks to end a
recent rally, while Brazil's Bovespa
lost 0.98 percent. Chile's bourse dipped 0.13 percent.
"The (IPC) rally we've seen since December seems to me to be
over," said Jorge Lagunas, a trader at Interacciones brokerage
in Mexico City. "We're seeing more of the same from the ECB -
zero positive news."
Shares in debt-ridden Mexican cement giant Cemex
fell 4.13 percent after the company posted
weaker-than-expected results, blaming weak sales in Europe.
Nonetheless, shares in the Carlos Slim controlled phone
giant America Movil barely budged after Mexico's
competition watchdog decided to fine Telmex, which is part of
America Movil, $52 million for monopolistic practices.
In Brazil, inflation accelerated to the fastest rate in
nearly eight years in January, raising bets of an interest rate
hike this year that could complicate the government's drive to
reignite a near-stagnant economy.
Preferred shares in iron ore giant Vale fell 2.7
percent, while state-oil company Petrobras shares
were down 0.57 percent. Petrobras shares had fallen 2.65 percent
in the previous session.
But Brazilian billionaire Eike Batista's oil sector
competitor OGX rose 1.89 percent, driving gains in
Latin America's key stock indexes at 2156 GMT:
Stock indexes daily % YTD %
MSCI LatAm 3,896.58 -0.38 2.6
Brazil Bovespa 58,372.46 -0.98 -4.23
Mexico IPC 45,019.21 -1.21 3.01
Chile IPSA 4,590.64 -0.13 6.72
Chile IGPA 22,324.11 -0.12 5.95
Argentina MerVal 3,302.97 0.39 15.72
Colombia IGBC 15,042.55 -0.85 2.22
Peru IGRA 21,707.35 -0.21 5.23
Venezuela IBC 565,727.0 0.06 20.00