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EMERGING MARKETS-Brazil stocks up; oil, mining firms offset banks
October 21, 2013 / 2:40 PM / 4 years ago

EMERGING MARKETS-Brazil stocks up; oil, mining firms offset banks

* Brazil Bovespa rises 0.61 pct, Mexico IPC up 0.37 pct

    SAO PAULO, Oct 21 (Reuters) - Brazilian stocks rose on
Monday as a rise in oil and mining shares helped offset a
decline in banks though investors remained focused on the
impending release of key U.S. economic data. 
    Mexico's IPC index rose for the third session in
four, while Chile's bourse climbed to its highest level
in three weeks.
    Brazil's benchmark Bovespa stock index rose 0.61
percent to 55,713.98, not far from its closing levels on both
Thursday and Friday.
    Shares of mining firm Vale SA rose 1 percent,
contributing most to the index's gains, while state-run oil
company Petroleo Brasileiro SA, known as Petrobras,
advanced 0.3 percent.    
    Shares of banks fell, however, after No. 2 private-sector
lender Banco Bradesco SA trimmed its projections for
interest income growth this year. 
    Bradesco shares fell 1.4 percent while rivals Itau Unibanco
Holding SA and Banco do Brasil SA dropped
0.8 and 0.28 percent, respectively.
    The Bovespa has hovered between 55,000 and 56,000 points
since Wednesday, with investors awaiting the release of U.S.
September payrolls and unemployment labor market data On
     The report had been originally due on Oct. 4 but its
release was delayed by the 16-day partial U.S. government
    The U.S. employment data could give further clues on when
the Federal Reserve might start scaling down its stimulus
program, which has lent support to global equity markets.
     Mexico's IPC index rose 0.37 percent to 40,560.53 as
shares of telecommunications firm America Movil,
controlled by billionaire Carlos Slim, advanced 1.1 percent.
    Chile's IPSA index gained for the seventh session in
eight, led by a 4 percent rise in shares of lender BCI 
    Latin America's key stock indexes at 1405 GMT:
 Stock indexes                            daily %     YTD %
                                Latest     change    change
 MSCI LatAm                    3,472.23      -0.2     -8.39
 Brazil Bovespa               55,713.98      0.61     -8.59
 Mexico IPC                   40,560.53      0.37     -7.20
 Chile IPSA                    3,878.97      0.79     -9.82
 Chile IGPA                   19,082.60      0.64     -9.43
 Argentina MerVal              5,513.32      0.86     93.16
 Colombia IGBC                14,411.36      0.12     -2.07
 Peru IGRA                    15,935.58      0.29    -22.75
 Venezuela IBC               1,945,220.         0    312.62

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