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EMERGING MARKETS-Latam stocks rise on strong China factory data
September 10, 2013 / 4:46 PM / 4 years ago

EMERGING MARKETS-Latam stocks rise on strong China factory data

* China posts encouraging industrial growth in August
    * MMX shares sink on news of Rio port talks
    * Brazil's Bovespa rises 0.56 pct, Mexico's IPC up 0.88 pct

    SAO PAULO, Sept 10 (Reuters) - Brazilian stocks rallied on
Tuesday for a fifth straight session following
stronger-than-expected industrial output data from No. 1 trade
partner China.
    Chinese factory output grew at the fastest pace in 17 months
in August, data showed on Tuesday, suggesting the world's
second-largest economy was stabilizing after slowing for more
than two years. 
    Mexico's IPC index rose to its highest level in over
two weeks, while Chile's bourse snapped a four-day
rally.
    China is a key purchaser of Latin American raw materials
exports, such as iron ore, soy, copper and petroleum.
    Brazil's benchmark Bovespa stock index rose 0.56
percent to 54,557.08, on track to close at its highest level
since late May.
    "The index has inverted its falling trend and it's possible
that we head toward 56,000 points," said Leandro Silvestrini, an
analyst with brokerage firm Intrader in Sao Paulo.
    Shares of commodities producers drove gains in the index,
with mining firm Vale SA up 2 percent and state-run
oil company Petroleo Brasileiro SA rising 1.6
percent.
    Shares of mining company MMX Mineração e Metálicos SA
 fell nearly 9 percent after the company said
controlling shareholder Eike Batista is in talks to cede control
of the company's port near Rio de Janeiro. 
    Electricity generator MPX Energia SA, formerly
controlled by Batista, rose nearly 3 percent after the company
said on Tuesday that he could sell his remaining stake in the
company. 
    Mexico's IPC index gained for the third straight
session, advancing 0.88 percent.
    Shares of lender Grupo Financiero Banorte rose
2.5 percent, contributing most to the index's gains, while
retailer Wal-Mart de Mexico gained 1.8 percent.
    Chile's IPSA index fell 0.35 percent as shares of
retailer Falabella dropped 2.6 percent.
    
    Latin America's key stock indexes at 1608 GMT:

 Stock indexes                  Latest        Daily   YTD pct
                                                pct    change
                                             change  
 MSCI Latam                      3,311.01      0.93    -13.62
                                                     
 Brazil Bovespa                 54,557.08      0.56    -10.49
                                                     
 Mexico IPC                     41,315.48      0.88     -5.47
                                                     
 Chile IPSA                      3,879.90     -0.35     -9.80
                                                     
 Chile IGPA                     19,037.01      -0.3     -9.65
                                                     
 Argentina MerVal                4,468.12      2.28     56.54
                                                     
 Colombia IGBC                  13,922.19      0.21     -5.39
                                                     
 Peru IGRA                      16,993.30      0.09    -17.63
                                                     
 Venezuela IBC               1,445,026.23      0.07    206.52

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