* Brazil Bovespa down 1.02 pct, Mexico IPC down 0.61 pct
MEXICO CITY, Nov 25 (Reuters) - Brazilian stocks led Latin
American bourses down on Monday, dropping for the third session
in four as investors eyed a deteriorating fiscal outlook and
higher interest rates in Latin America's largest economy.
Mexico's IPC index and Chile's bourse also
Brazil's benchmark Bovespa stock index fell 1.02
percent to 52,263.51, adding to a more than 14 percent drop for
the year. The Bovespa looks set to post its first monthly loss
in five in November, having dropped more than 3.6 percent since
the government announced a far worse-than-expected September
budget deficit on Oct. 31.
"We're not tracking the gains in markets abroad because
things here are looking quite complicated, with the outlook for
a worsening fiscal situation and higher interest rates," said
Alvaro Bandeira, a partner with Orama Investimentos in Rio de
All but two of 62 economists polled by Reuters expect
Brazilian policymakers to raise the benchmark Selic rate
by 50 basis points to 10 percent on Wednesday, its
highest since March 2012.
Shares of miner Vale fell 2.11 percent,
contributing most to the index's losses, while Brazilian
state-run oil company Petrobras shed 1.5 percent.
Shares of airline Gol Linhas Aereas SA jumped
3.66 percent after the company said that a measure of ticket
prices known as yield rose 14 percent in October from a year
earlier, while executives forecast a stable outlook for domestic
flights next year.
Mexico's IPC index dipped 0.61 percent to 40,948.36
points, with a 1.92 percent fall in the shares of
telecommunications company America Movil and a 2.97
percent dip in conglomerate Alfa dragging down the
Chile's IPSA dropped 0.48 percent to 3,717.72
points, weighed down by a 1.64 percent decline in the shares of
industrial conglomerate Empresas Copec, which reported
lower than expected third quarter profit on Friday.
Latin America's key stock indexes at 2126 GMT:
Stock indexes Latest Daily YTD pct
pct change change
MSCI Latam 3,281.09 -0.92 -12.81
Brazil Bovespa 52,263.51 -1.02 -14.25
Mexico IPC 40,948.36 -0.61 -6.31
Chile IPSA 3,717.72 -0.48 -13.57
Chile IGPA 18,336.47 -0.48 -12.97
Argentina MerVal 5,529.54 2.49 93.73
Colombia IGBC 13,226.43 -0.93 -10.12
Peru IGRA 15,032.63 -0.43 -27.13
Venezuela IBC 2,487,549.67 5.17 427.65
- US International News