EMERGING MARKETS-Latam stocks rise; Brazil up on ECB rates outlook, US data

* ECB signals it intends to keep monetary policy loose
* US consumer confidence highest in almost six years
* Brazil Bovespa gains 0.72 pct, Mexico IPC up 0.11 pct

By Asher Levine and Danielle Assalve
SAO PAULO, May 17 (Reuters) - Brazilian stocks rose on
Friday after a pledge from the European Central Bank to support
economic growth through loose monetary policy boosted shares of
commodities exporters.
Mexico's IPC index and Chile's bourse traded
flat. The IPC ended the week up 0.16 percent while the IPSA
closed down 1.41 percent over the same period.
Brazilian shares rose after ECB board member Joerg Asmussen
told journalists on Friday that the bank's monetary policy would
remain expansive for as long as needed.
Stocks got a further boost from data showing consumer
confidence in the United States rose in early May to the highest
level in nearly six years.
Brazil's benchmark Bovespa stock index rose for the
third session in four, adding 0.72 percent to 55,164.27.
Broadly traded iron-ore producer Vale SA rose
0.71 percent, contributing most to the index's gains, while
state-run oil company Petroleo Brasileiro SA, known
as Petrobras, added 1 percent.
Local stocks with high liquidity tend to attract foreign
investors looking for exposure to Latin American equities, with
their performance often tracking global risk appetite.
"Commodities firms are driving the market forward today, but
it's important to remember we are in a very undefined period for
the market right now, without a short-term trend in either
direction," said Rudimar Joner Filho, a broker with Banrisul
Corretora in Porto Alegre.
Analysts said the index should remain volatile ahead of the
expiration of options on shares, scheduled for Monday.
Mexico's IPC index added 0.11 percent to 41,806.73.
Lender Grupo Financiero Banorte gained 1.72
percent, contributing most to the index's rise, while retailer
Wal-Mart de Mexico added 0.72 percent.
Chile's IPSA index dipped 0.05 percent to 4,258.98
as shares of LATAM Airlines Group fell 1.82 percent.

Latin America's key stock indexes at 2103 GMT:

Stock indexes Latest Daily pct Year-to-da
change te pct
change
MSCI LatAm 3,705.54 0.12 -2.43

Brazil Bovespa 55,164.27 0.72 -9.50

Mexico IPC 41,806.73 0.11 -4.35

Chile IPSA 4,258.98 -0.05 -0.99

Chile IGPA 20,915.80 -0.07 -0.73

Argentina MerVal 3,694.74 -0.32 29.45

Colombia IGBC 13,342.95 0.13 5.35

Peru IGRA 16,543.37 0.77 -19.81

Venezuela IBC 763,341.75 0.46 61.92