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EMERGING MARKETS-Brazilian stocks rise on U.S. debt talks optimism
October 14, 2013 / 9:25 PM / 4 years ago

EMERGING MARKETS-Brazilian stocks rise on U.S. debt talks optimism

* Brazil Bovespa up 1.92 pct, Mexico IPC falls 0.23 pct

    SAO PAULO, Oct 14 (Reuters) - Brazilian stocks rose to a
nearly 1-month high on Monday as U.S. policymakers appeared to
inch closer to a deal to avert a potential default, buoying
investor demand for riskier assets.
    Brazil's benchmark Bovespa index rose for a fourth
session after U.S. senators said they were closing in on a deal
that would reopen the government and push back a possible
default for several months, as a Thursday deadline neared.
    U.S. policymakers must raise the government's borrowing
authority in order to avoid a default. Hurdles to a deal still
    Brazil's benchmark Bovespa stock index rose 1.92
percent to 54,170.60 points, its biggest one-session gain since
September 18, reversing earlier losses. 
    Shares of miner Vale rose 4.03 percent, adding
most to the index's gains, while OGX Petroleo e Gas SA
, the cash-strapped oil company controlled by
Brazilian tycoon Eike Batista, rose 9.52 percent. 
    Shares of telecommunications firm TIM Participaçoes SA
 rose 0.59 percent. TIM's chief executive told a local
newspaper on Monday that the company is not for sale, denying
reports that Telecom Italia SpA wants to sell its 67
percent stake. 
    Mexico's IPC index fell 0.23 percent to 40,882.09
    Shares of bottler FEMSA dropped 1.2 percent,
contributing most to the index's fall, while miner Grupo Mexico
 shed 1.26 percent.
    Chile's IPSA index rose for a third session as
shares of conglomerate Antar Chile gained 2.01 percent.
    Latin America's key stock indexes at 2047 GMT:
 Stock indexes                                daily %       YTD %
                               Latest          change      change
 MSCI LatAm                       3,434.83       0.61       -9.56
 Brazil Bovespa                  54,170.60       1.92      -11.13
 Mexico IPC                      40,882.09      -0.23       -6.46
 Chile IPSA                       3,844.80        0.2      -10.61
 Chile IGPA                      18,939.92       0.34      -10.11
 Argentina MerVal                 5,241.88       1.47       83.65
 Colombia IGBC                   14,240.31       0.59       -3.23
 Peru IGRA                       15,467.03       0.04      -25.02
 Venezuela IBC                1,839,710.15       0.54      290.23

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