* Gerdau shares down on weak first-quarter steel output
* Brazil Bovespa rises 1.52 pct, Mexico IPC gains 0.49 pct
By Asher Levine and Brad Haynes
SAO PAULO, May 7 Brazilian stocks tracked global
markets higher on Tuesday as the outlook for ongoing monetary
stimulus from the world's major central banks and encouraging
industrial data from Germany fed demand for riskier assets.
Chile's bourse rose for the fourth session in five,
while weak sales at Mexico's biggest retailer Wal-Mart de Mexico
limited an advance by the country's IPC index.
German industrial orders rose unexpectedly in March due to
strong demand from the euro zone, bolstering hopes for Europe's
"The production numbers in Germany were really good and
that's helping stocks globally," said Pedro Galdi, an analyst
with SLW Corretora in Sao Paulo. "But we're still seeing a lot
of volatility with all the Brazilian corporate earnings today."
Brazil's benchmark Bovespa stock index rose 1.52
percent to 56,274.66, but losses in oil producer OGX,
down 1.02 percent, and steelmaker Gerdau, 2.2 percent
off, limited gains.
Gerdau SA's production in the first quarter fell from a year
earlier due to maintenance, the company said Tuesday in an
earnings release. OGX Petroleo e Gas Participacoes SA, the oil
company controlled by billionaire Eike Batista, reported that
plunging offshore oil output dragged down April production.
Mexico's IPC index gained 0.49 percent to 42,406.67
Shares in Mexico's biggest retailer, Wal-Mart de Mexico
, fell more than 3 percent after it reported a
decline in April sales at stores that had been open for at least
Chile's IPSA index rose 0.28 percent, as a 2.85 rise
in mobile phone operator Entel drove gains. The company
reported a 29 percent fall in profit on Monday.
Latin America's key stock indexes at 2254 GMT:
Stock indexes % change
MSCI LatAm 3,797.14 1.34
Brazil Bovespa 56,274.66 1.52
Mexico IPC 42,406.67 0.49
Chile IPSA 4,340.95 0.28
Chile IGPA 21,223.80 0.21
Argentina MerVal 4,066.48 2.99
Colombia IGBC 13,377.22 -0.26
Peru IGRA 17,408.11 -1.68
Venezuela IBC 681,531.81 0