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EMERGING MARKETS-Latin American stocks rise on China, U.S. assurances
July 17, 2013 / 9:33 PM / 4 years ago

EMERGING MARKETS-Latin American stocks rise on China, U.S. assurances

* China says will announce measures to support trade
    * Bernanke says Fed has no set timeline for tapering
    * Brazil's Bovespa up 1.15 pct, Mexico's IPC up 1.46 pct

    MEXICO CITY, July 17 (Reuters) - Latin American stocks
rallied on Wednesday as both the United States and China, the
region's two biggest trading partners, indicated measures would
be taken to boost their respective economies.
    Brazilian and Chilean stocks each rose for the third
consecutive session, while Mexico's IPC index snapped a
three-day slide.
    China's Commerce Ministry on Wednesday said it would soon
announce measures to support exports and imports.
 This news boosted Brazilian mining, steelmaking
and petroleum stocks, as China is a major purchaser of the
country's commodities.
    Meanwhile, in testimony before Congress on Wednesday,
Federal Reserve Chairman Ben Bernanke said the timeline for
ending the U.S. central bank's massive $85 billion monthly
bond-buying program was not set in stone. 
    The Fed's monetary stimulus program has long supported Latin
American stocks by boosting investor demand for higher risk
emerging market assets.
    * Brazil's benchmark Bovespa stock index rallied for
a third straight day, adding 1.15 percent to close at 47,407.31
points. Shares of state-run oil company Petroleo Brasileiro SA
, known as Petrobras, added 1.97 percent, contributing
most to the index's gains.
    * Mexico's IPC index added 1.46 percent to close at
40,240.19 points, as shares of lender Grupo Financiero Banorte
 rallied 10.41 percent. Banorte raised more than $2
billion on a share offering Tuesday. 
    * Chile's IPSA index rose 1.51 percent to close at
3,864.43 points, led by a 6.04 percent gain in industrial
conglomerate Empresas Copec.
    Latin America's key stock indexes at 2101 GMT:
 Stock indexes                             Daily pct   YTD pct
                                  Latest      change    change
 MSCI Latam                      3,197.48       1.21    -15.81
 Brazil Bovespa                 47,407.31       1.15    -22.22
 Mexico IPC                     40,240.19       1.46     -7.93
 Chile IPSA                      3,864.43       1.51    -10.16
 Chile IGPA                     19,141.60       1.41     -9.15
 Argentina MerVal                3,475.70       2.39     21.77
 Colombia IGBC                  13,304.84       1.42     -9.59
 Peru IGRA                      15,326.01       1.25    -25.71

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