EMERGING MARKETS-Mexican stocks rise as latest NAFTA trade talks wrap up

 (Recasts with NAFTA talks, updates prices)
    SAO PAULO, March 5 (Reuters) - Mexico's peso currency and
its benchmark stock index both made modest gains on Monday as
the latest round of talks aimed at updating the North American
Trade Agreement (NAFTA) ended amid reports of some progress.
    As the seventh round of NAFTA talks wrapped up, the peso
reversed losses earlier in the day to close up 0.05 percent,
while the country's S&P/BMV IPC stock exchange rose 0.36
    Gains were lead by miner Grupo Mexico, up 3.72
percent. Shares of its rail unit GMexico Transportes
will be listed on the S&P/BMV IPC index after March 20.
    In comments following the end of the round of NAFTA talks,
U.S. Trade Representative Robert Lighthizer suggested that
President Donald Trump's proposed tariffs on steel and aluminum
serve as an "incentive" for Canada and Mexico to reach a deal.

    Canadian negotiators described the tariffs on the metals as
unacceptable, while the Mexican side emphasized that the NAFTA
talks should pick up speed ahead of a July presidential
    In Brazil, the benchmark Bovespa index gained 0.3 percent,
although new corruption revelations sent shares in food
companies plummeting.
    Early on Monday, Brazilian federal police said they arrested
the former chief executive of food processor BRF SA
on charges that he and other executives were aware that the
company committed fraud in trying to avoid food safety checks.

    BRF plunged 19 percent in Sao Paulo, and shares in other
Brazilian food companies JBS SA and Marfrig Global
Foods SA also took a hit, falling 5.0 percent and
nearly 1.0 percent, respectively.  
    Other Brazilian sectors including telecoms, finance, and
consumer discretionary were in the black, boosted by general
optimism over the possibility of monetary easing in Latin
America's biggest economy and positive developments in global
commodities markets.
Key Latin American stock indexes and currencies at 2156 GMT:  

 Stock indexes            Latest    daily % change  YTD % change
 MSCI Emerging             1176.12            -0.5          1.53
 MSCI LatAm                3085.71            0.65          9.11
 Brazil Bovespa           86022.83             0.3         12.59
 Mexico IPC               47720.91            0.36         -3.31
 Chile IPSA                5538.52           -0.13         -0.47
 Chile IGPA               27765.32           -0.12         -0.77
 Argentina MerVal         32133.74            0.73          6.88
 Colombia IGBC            11385.90            1.05          0.13
 Venezuela IBC             4296.88            3.24        240.17 Currencies               Latest    daily % change  YTD % change Brazil real                3.2424            0.15          2.19
 Mexico peso               18.8000            0.05          4.78
 Chile peso                    598            0.00          2.78
 Colombia peso              2854.5            0.40          4.47
 Peru sol                    3.252            0.00         -0.46
 Argentina peso            20.2000            0.50         -7.92
 Argentina peso              20.23            0.84         -4.94
 (Reporting by Gram Slattery, Flavia Bohone and David Alire
Editing by Frances Kerry and Rosalba O'Brien)