* Brazil Bovespa down 0.93 pct, Mexico IPC falls 0.36 pct
MEXICO CITY Nov 8 Brazilian stocks hit a two
month low on Friday, leading Latin American bourses down after
strong U.S. payrolls data upped investor expectations for a
near-term tapering of monetary stimulus from the Federal
Shares of Brazil's state-run oil company, Petroleo
Brasileiro SA dragged on Brazil's Bovespa index
while Mexico's IPC index slumped for the fifth
U.S. employers added more new jobs to their payrolls last
month than analysts expected, which could lead the U.S. Federal
Reserve to begin slowing the monetary stimulus that has helped
underpin demand for Latin American equities.
Brazil's Bovespa index fell for the fourth straight day,
losing 0.93 percent to 52,248.86, its lowest close since early
"The payroll data increases the probability of tapering in
December," said Hamilton Alves, a senior analyst with BB
Investimentos in Sao Paulo.
Alves said not everyone in the market was convinced the
stimulus reduction would begin this year, however, which helped
keep the index from falling further on Friday.
"Also, we've already had a bit of a fall over the past few
days, and we're near support levels near 51,780 points," he
added. "We could see a bounce-back next week."
Shares of Petrobras fell 1.8 percent, while Banco Bradesco
dipped 3.57 percent, contributing most to the index's
Shares of TIM Participacoes SA, Brazil's
second-largest wireless phone company, shed 3.89 percent after
parent company Telecom Italia said it plans to sell
its Argentine affiliate.
Mexico's IPC index slipped 0.36 percent to 39,864.16,
its lowest level in two months.
Spending on machinery, equipment and new construction in
Mexico declined in August, data showed Friday, which suggests
lower optimism among the nation's businesses for stronger
economic growth ahead.
Shares of Mexican broadcaster Televisa, the
world's biggest producer of Spanish-language content, fell 2.91
percent, while tycoon Carlos Slim's telecom giant America Movil
dropped 1.15 percent.