* OGX shares soar on talk of stake sale
* Brazil Bovespa adds 0.68 pct, Mexico IPC up 0.25 pct
By Asher Levine
SAO PAULO, April 22 Brazilian stocks climbed on
Monday as investors piled back in to troubled oil firm OGX on
reports of a stake sale.
Mexico's IPC index edged higher, while Chile's bourse
fell 0.32 percent.
Brazil's benchmark Bovespa stock index rose for the
third day in a row, adding 0.68 percent to 54,297.73.
Shares of OGX Petroleo e Gas Participações SA,
the oil company controlled by Brazilian billionaire Eike
Batista, soared nearly 20 percent, driving the index into
Brazil's Folha de S.Paulo newspaper said on Sunday that
negotiations were at an advanced stage for Russia's
second-largest crude producer Lukoil to take a stake in the
company, in a deal that would also involve Malaysia's Petronas.
OGX shares have plunged nearly 65 percent this year on
concerns over missed production targets and the potential need
for more capital.
OGX said in a brief statement that the newspaper report on
the rescue plan was not accurate.
"You have a lot of people who are short on the shares, so
when a piece of news like that comes out, they exit their
positions, which ends up boosting the shares quite a bit," said
Alvaro Bandeira, a partner at Orama Investimentos in Rio de
Mexico's IPC index rose 0.25 percent to 42,914.20, as
shares of telecommunications firm America Movil,
controlled by billionaire Carlos Slim, added 2.25 percent.
Chile's IPSA index fell to 4,291.96 as shares of
Banco Chile dropped 1.10 percent.
Latin America's key stock indexes at 2148 GMT:
Stock indexes % change
MSCI LatAm 3,686.88 -0.39
Brazil Bovespa 54,297.73 0.68
Mexico IPC 42,914.20 0.25
Chile IPSA 4,291.96 -0.32
Chile IGPA 21,065.60 -0.23
Argentina MerVal 3,530.40 2.49
Colombia IGBC 13,386.05 0.53
Peru IGRA 17,900.16 -0.03
Venezuela IBC 646,681.19 0.42