August 28, 2013 / 9:12 PM / 4 years ago

EMERGING MARKETS-Latam stocks down on Syria fears, OGX hurts Brazil

* Syria concerns continue to weigh on Latam markets
    * Mexico IPC down 1.03 pct, Brazil Bovespa 0.45 pct off

    MEXICO CITY, Aug 28 (Reuters) - Latin American stocks fell
on Wednesday as investors continued to worry about the impact of
a U.S.-led strike on Syria, while oil producer OGX weighed on
Brazil's Bovespa. 
    Mexico's IPC index was down more than 1 percent,
while Chile's bourse and the Brazilian stock market were
both down about half a percent. 
    Concerns over a potential U.S.-led military strike on the
Syrian government of Bashar al-Assad once again drove local
markets lower as investors fled risky assets like emerging
market equities for the safety of the U.S. dollar.
    In Mexico, conglomerate Alfa led losses, dropping
3.6 percent, while telecoms giant America Movil,
controlled by Mexican billionaire Carlos Slim, lost 0.93
    Shares of cement producer Cemex fell 0.33
percent after Swiss rival Holcim announced that it
would pay the Mexican firm 70 million euros in cash as part of a
cost-cutting plan to exchange some assets and combine others.
    In Brazil, troubled oil company OGX, controlled
by Brazil's beleaguered magnate Eike Batista, fell 17.39 percent
after a local newspaper said Batista is offering some holders of
the company's $3.6 billion in bonds the chance to exchange their
securities for stock. 
    Latin America's key stock indexes at 2058 GMT:
 Stock indexes                              daily %  year-to-da
                         Latest              change        te %
 MSCI LatAm                    3,032.59        0.82      -20.15
 Brazil Bovespa               49,866.92       -0.45      -18.19
 Mexico IPC                   39,248.07       -1.03      -10.20
 Chile IPSA                    3,537.81       -0.57      -17.75
 Chile IGPA                   17,653.44       -0.16      -16.22
 Argentina MerVal              3,925.31           2       37.52
 Colombia IGBC                13,744.10        1.29        8.51
 Peru IGRA                    16,521.58        0.09      -19.91
 Venezuela IBC             1,346,257.72        1.64      185.56
0 : 0
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