* Brazil Bovespa up 0.55 pct, Mexico IPC rises 0.79 pct
SAO PAULO, Dec 6 (Reuters) - Brazilian stocks tracked global
markets higher on Friday after better-than-expected U.S. labor
data boosted investor expectations of a stronger recovery in the
world's largest economy.
Mexico's IPC index posted its biggest daily gain in a
week, while Chile's bourse was little changed.
Data on Friday showed U.S. employers hired more workers
than expected in November, with the jobless rate falling to a
five-year low of 7.0 percent.
While the report helped boost expectations for a
windingdown of the Federal Reserve's massive bond-buying program
it also helped reassure investors that the U.S. economy would be
able to continue growing with less stimulus, analysts said.
"If the number came in below expectations, it would create
worries over the speed of the U.S. economic recovery," said
Silvio Campos Neto, an analyst with Tendencias in Sao Paulo.
Brazil's benchmark Bovespa stock index rose for the
second day in a row, adding 0.55 percent to 51,064.99.
Shares of BM&FBovespa SA, Brazil's only listed
financial exchange, rose 3.75 percent, contributing most to the
index's gains. The stock had fallen 4.6 percent in the previous
session after the company said it lost an appeal against a fine
imposed by Brazilian authorities over tax credits resulting from
the merger that created the exchange.
Shares of state-run oil company Petroleo Brasileiro SA
, known as Petrobras, fell 0.74 percent. The shutdown
of Petrobras' REPAR refinery in Brazil's south after a Nov. 28
explosion and fire will cut Brazilian fuel output by more than
10 percent for about a month, a union representing workers at
the plant told Reuters on Thursday.
Mexico's IPC index erased the previous session's
losses, rising 0.79 percent to 42,240.78.
Shares of mining firm Grupo Mexico advanced
1.5 percent, contributing most to the index's gains, while
cement manufacturer Cemex added 1.1 percent.
Shares of telecommunications firm America Movil
fell 0.3 percent, while broadcaster Televisa rose
0.5 percent. The two companies, which are seen likely to be most
affected by Mexico's telecoms reform, said on Thursday the
regulator has told them it was determining whether they are
dominant players in the sector.
Chile's IPSA index remained nearly unchanged from
Thursday's close, hovering near 3,729 points, as a 0.4 percent
rise in conglomerate Copec helped offset a 0.3 percent
fall in retailer Falabella.
Latin America's key stock indexes at 1445 GMT:
Stock indexes Latest daily % YTD %
MSCI LatAm 3,202.28 0.76 -16.31
Brazil Bovespa 51,064.99 0.55 -16.22
Mexico IPC 42,240.78 0.79 -3.35
Chile IPSA 3,728.94 -0.02 -13.31
Chile IGPA 18,331.90 -0.05 -13.00
Argentina MerVal 5,364.52 0.75 87.95
Colombia IGBC 13,046.99 0.11 -11.34
Peru IGRA 14,653.50 -0.01 -28.97
Venezuela IBC 0.00 0 -100.00
- Investment & Company Information