August 29, 2013 / 10:21 PM / 4 years ago

EMERGING MARKETS-Latin American stocks mixed as Syria worries linger

* Banco do Brasil leads gains in Bovespa
    * Chile's IPSA snaps losing streak, Mexico extends slump
    * Brazil's Bovespa up 0.11 pct, Mexico's IPC down 0.22 pct

    MEXICO CITY, Aug 29 (Reuters) - Brazilian stocks reversed a
three-session slump and Chile's index gained as foreign
investors returned to emerging market equities as uncertainty
over possible military action against Syria continued to
pressure global markets.
    But Mexico's IPC index dipped after data showed the
U.S. economy accelerated sharply in the second quarter,
bolstering the view that the Federal Reserve could soon begin to
wind down its massive stimulus program.
    Brazil's benchmark Bovespa stock index inched up
0.11 percent to 49,921.88 points, trimming the sharpest weekly
decline since early July.
    "We're seeing a recovery in the Bovespa from losses earlier
this week, though the tendency is not a very strong one," said
Luis Gustavo Pereira, a strategist at Futura Corretora in Sao
    Lenders led the index's gains as a strong dollar and
expectations of continued tightening of monetary policy,
following an interest rate hike in Brazil on Wednesday, pushed
up interest rate futures.
    Shares of state-owned Banco do Brasil SA were up
2.22 percent, while Banco Bradesco shares rose 1.5
    Weighing on the index's gains were shares of OGX Petroleo e
Gas Participacoes, the oil company controlled by
embattled Brazilian tycoon Eike Batista, which fell 12.28
    Heavily-weighted mining giant Vale SA saw losses
of 1.44 percent.
    Mexico's IPC index extended its seven-session slump,
falling 0.22 percent to close at 39,162.49, its lowest level
since late July. 
    Shares of Wal Mart de Mexico led losses,
falling 1.81 percent.
    Chile's IPSA index gained 0.47 percent to close at
3,554.45, rising for the second session in twelve. The index was
led higher by a 5.07-percent gain by shares in retailer
    Latin America's key stock indexes at 2154 GMT:
 Stock indexes             Latest     Daily   YTD pct
                                        pct    change
 MSCI Latam                3,032.51    Unch    -20.15
 Brazil Bovespa           49,921.88    0.11    -18.10
 Mexico IPC               39,162.49   -0.22    -10.40
 Chile IPSA                3,554.45    0.47    -17.36
 Chile IGPA               17,710.22    0.32    -15.95
 Argentina MerVal          3,922.35   -0.07     37.42
 Colombia IGBC            13,656.07   -0.64     -7.20
 Peru IGRA                16,652.22    0.79    -19.28
 Venezuela IBC         1,350,456.68    0.31    186.46
0 : 0
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