April 8, 2013 / 10:16 PM / 5 years ago

EMERGING MARKETS-Latin American stocks edge up, track Wall Street

* Bovespa flat, hovering around 55,000 points
    * Mexico IPC adds 0.43
    * Chile IPSA bucks five-day slump

    By Asher Levine
    SAO PAULO, April 8 (Reuters) - Latin American stocks edged
up slightly on Monday, largely tracking Wall Street indices,
where investors looked ahead to an earnings season expected to
show modest growth. 
   Mexico's IPC index rose 0.43 percent to 43,430.99
points. Chile's bourse rose for the first session in
six, up 0.65 percent to 4,298.46 points.
    Brazil's Bovespa index was flat, adding just under
0.1 percent to 55,092.31.
    "After the bargain-hunting on Friday we are back to a weak
market today," said Alvaro Bandeira, a partner at Orama
Investimentos in Rio de Janeiro.
    U.S. stocks ended higher, having dipped earlier in the day,
but investors said gains were tempered by what would likely be a
slow Q1 earnings season.
    In Brazil, shares of oil producer OGX Petroleo e Gas
Participacoes SA, controlled by Brazilian billionaire
Eike Batista, fell 1.75 percent. State-run rival Petroleo
Brasileiro SA, known as Petrobras, dropped 2.19
percent, contributing most to the index's decline. 
     OGX shares are down more than 61 percent this year as short
positions spiked, traders said, based on information from
BM&FBovespa SA's CBLC clearinghouse. Equity analysts also cited
the potential for share dilution should Batista need to bolster
the troubled company's capital position.
    Mexico's IPC index was up just under half a percent
as a 1.62 percent loss in retailer Walmex  offset a
1.78 percent gain in telecoms giant America Movil. 
    Chile's IPSA index snapped a five-day slide, rising
0.65 percent to 4,298.46 as shares of retailer Falabella
 gained 3.26 percent.

    Latin America's key stock indexes at 2113 GMT:
 Stock indexes                                       % change
 MSCI LatAm                          3,771.63             0.4
 Brazil Bovespa                     55,092.31            0.08
 Mexico IPC                         43,430.99            0.43
 Chile IPSA                          4,298.46            0.65
 Chile IGPA                         21,142.70            0.48
 Argentina MerVal                    3,379.39            2.01
 Colombia IGBC                      13,651.26           -0.67
 Peru IGRA                          19,381.26           -0.66
 Venezuela IBC                     635,109.88            0.19

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