MEXICO CITY Jan 7 Brazilian stocks fell on
Tuesday after comments from S&P revived concerns that Latin
America's top economy could see a credit downgrade this year
while Mexican stocks rebounded from a more than one-month low.
Brazilian stocks were among the world's worst-performing
equity markets last year as concerns about slow growth, high
inflation hurt demand for local assets.
* Brazil's Bovespa lost 1.07 percent to end at
50,430.02 points the day after a new index weighting took
effect, reducing the importance of stocks linked to commodities
* Stocks were hit by media reports that the head of
sovereign ratings at Standard & Poor's told reporters in New
York that the agency may downgrade Brazil's credit rating later
* That followed comments by a Moody's Investors Service
analyst on Monday who said his agency may revise Brazil's rating
outlook downward later this year if the economy disappoints in
the first half of 2014.
* Motor vehicle sales in Brazil are likely to stage a feeble
recovery this year after their first annual drop in a decade in
2013, an industry group said on Tuesday.
* Mexico's IPC index rose 0.61 percent to end at
41,778.60 as shares of broadcaster Televisa added
1.73 percent and top retailer Walmex gained 1.61
percent. The IPC had fallen in the prior four sessions to hit
its lowest level since late November.
* While Brazil's Bovespa slumped about 15.5 percent last
year, Mexico's IPC dipped just over 2 percent. Mexico was helped
by optimism about an economic reform drive and signs that
stronger growth this year could help stocks there.
* Data on Tuesday showed a sharp decline in the U.S. trade
deficit that pointed to stronger growth in the United States,
Mexico's top trade partner.