August 19, 2013 / 11:22 PM / 4 years ago

UPDATE 1-EMERGING MARKETS-Mexico stocks thumped ahead of Fed minutes

* Mexico IPC index down 1.74 pct, Brazil up 0.07 pct
    * Mexico's loss biggest in two weeks
    * Brazil's 9-session winning streak strongest in 11 months
    * Investors cautious ahead of Fed Minutes release

    MEXICO CITY, Aug 19 (Reuters) - Mexican stocks fell by the
most in two weeks on Monday as investors cautiously awaited the
release of Federal Reserve minutes for insight into
policymakers' thinking about a potential wind-down of stimulus
    Chile's index dipped for the fourth consecutive session
while Brazilian stocks eked out a small gain, continuing a
nine-day winning streak that gave the Bovespa its biggest boost
in 11 months.
    The Fed, whose $85 billion bond buying program has supported
investor appetite for risky emerging market assets, is due to 
release minutes from its July meeting on Wednesday, and
investors will be seeking clues on the timing of possible
stimulus tapering.  
    * Mexico's IPC stock index shed 1.34 percent on
Monday in its third down session to close at 41,484.25 points,
notching its biggest dip since July 29. 
    * The biggest drag came from a dip in billionaire Carlos
Slim's telecom company America Movil,, which saw its
shares fall 2.79 percent to 12.92 pesos per share, its lowest
close since late June. 
    The company announced earlier this month an offer for the 70
percent of Dutch telecoms group KPN that it does not
already own, defying Spanish rival Telefonica's bid to
buy KPN's German unit E-Plus.  
    * Brazil's Bovespa barely managed to continue its
winning streak with a 0.07 percent gain to close at 51,574.09.
The streak has given the index its biggest boost since September
    * Brazil's gains were led by SA Gerdau, which saw
shares up 5.78 percent after HSBC Securities analysts raised the
recommendation and price target on the steelmaker's preferred
    * Chile's IPSA index fell 0.74 percent, its fourth
consecutive session of losses to close at 3,702.92. The index
was pulled down by shares of retailer Cencosud, which
lost 3.09 percent.   
    * Data on Monday showed Chile's economic growth marked its
slowest rate of expansion in nearly two years in the second
quarter as domestic demand grew more slowly. 
    The following are data on Latin American stock prices as of
2242 GMT:
 Stock indexes                  daily   YTD %
                                    %  change
                      Latest   change  
 MSCI LatAm           3,131.9   -2.09  -17.53
 Brazil Bovespa       51,574.    0.07  -15.39
 Mexico IPC           41,484.   -1.34   -5.08
 Chile IPSA           3,702.9   -0.74  -13.91
 Chile IGPA           18,347.   -1.15  -12.92
 Argentina MerVal     3,815.2   -1.28   33.67
 Colombia IGBC        13,770.   -0.09   -6.43
 Peru IGRA            16,550.    0.15  -19.77
 Venezuela IBC        1,288,6    0.16  173.35

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