January 20, 2014 / 10:52 PM / 4 years ago

EMERGING MARKETS-Brazil stocks fall nearly 1 pct on China data, Mexico steady

* Brazil Bovespa down 0.96 pct, Mexico IPC up 0.16 pct

MEXICO CITY, Jan 20 (Reuters) - Brazilian stocks fell nearly 1 percent on Monday, hurt by economic data from China suggesting an impending slowdown in the world’s No. 2 economy.

On a day of light trading due to the Martin Luther King Jr. national holiday in the United States, Mexico’s IPC index rose slightly, while Chile’s bourse ended a three-day rally.

Brazil’s benchmark Bovespa stock index closed the day down 0.96 percent. Chinese data released on Monday showed growth in investment and factory output flagged in the final months of last year. Some economists now say a cooldown will be inevitable this year.

China is a major customer of Brazil, buying up massive volumes of its commodities, and any wobbles in the Asian giant’s economy reverberate in Brazilian markets.

Preferred shares of mining firm Vale SA, which sells most of the iron ore it mines to China, slipped 2.83 percent. Shares in state oil giant Petrobras fell 2.13 percent.

* Shares of Brazilian homebuilder Gafisa advanced 0.86 percent after the company reported a better-than-expected increase in fourth-quarter project launches and sales late Friday.

* In Mexico, where the IPC index added 0.16 percent, shares of lender Grupo Financiero Banorte rose 0.92 percent, driving gains.

* Chile’s IPSA index lost 0.48 percent to close at 3,686.68 points as shares of energy producer Enersis lost 1.21 percent.

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below