* Mexico's America Movil lead gains, up 1.86 pct
* Mexico's lower house passes sweeping telecom reform
* Firms owned by Brazilian billionaire Batista buckle
* Brazil Bovespa falls 0.6 pct, Mexico IPC up 0.37 pct
By Asher Levine and Danielle Assalve
SAO PAULO, March 22 Brazilian stocks fell to
their lowest close in eight months on Friday, weighed down by
mining and oil firms that make up Brazilian billionaire Eike
Batista's shrinking empire.
Mexican stocks rounded out a three-day winning streak,
boosted by shares in tycoon Carlos Slim's telecom giant America
Movil, which rose after Congress took a step towards approving a
sweeping reform of the sector.
Chile's bourse was flat, rising 0.02 percent.
Brazil's benchmark Bovespa stock index fell 0.6
percent to 55,243.40, its lowest close since late July of last
The index was dragged down by shares of Batista-owned oil
company OGX Petroleo e Gas Participacoes SA and iron
ore miner MMX, which plunged 9.2 and 8.3 percent,
Batista has been shrinking EBX, his energy, oil, mining and
logistics conglomerate which include OGX and MMX, after a series
of setbacks that caused an average loss of 70 percent for the
On Thursday, Batista confirmed he is in talks to sell a
stake of Brazilian firm MPX Energia SA, of which he is the
majority shareholder, to Germany's E.ON according to
"It's the movement of a herd again," said John Peter Brugger,
analyst at Leme Investimentos in Florianopolis, citing
persistent market concerns about the outlook for companies
within the EBX group.
The Bovespa has dropped in nine of the last 11 sessions, as
worries over a potential banking sector collapse in Cyprus and
weak European growth data weighed on shares.
Mexico's IPC index rose 0.37 percent to 42,686.68,
after the country's lower house of Congress passed a sweeping
overhaul of the telecom sector early Friday morning, which
analysts expect to clear a path for Carlos Slim to finally enter
Mexico's paid TV market.
Slim's America Movil, rose 1.86 percent, contributing the
most to the index's rise.
Shares of Mexican broadcaster Televisa rose
Latin America's key stock indexes at 2320 GMT:
Stock indexes daily YTD %
Latest chang e
MSCI LatAm 3,734.8 -0.8 -1.66
Brazil Bovespa 55,243. -0.6 -9.37
Mexico IPC 42,686. 0.37 -2.33
Chile IPSA 4,451.0 0.02 3.48
Chile IGPA 21,777. -0.02 3.35
Argentina MerVal 3,430.1 -1.71 20.18
Colombia IGBC 13,983. 0.42 -4.97
Peru IGRA 19,992. 0.13 -3.09
Venezuela IBC 629,077 -0.48 33.44