EMERGING MARKETS-Latam stocks rise on U.S. debt deal hopes

Reuters

MEXICO CITY, Oct 10 (Reuters) - Latin America's main stock

indexes rose on Thursday on hope politicians in the United

States would finally resolve the budget and debt impasse that

has roiled global markets for weeks.

Republicans in the House of Representatives offered a plan

on Thursday that would postpone a possible U.S. default,

signaling new willingness to end a standoff that has shut large

parts of the government and thrown the United States' future

creditworthiness into question.

The U.S. Treasury is expected to exhaust its borrowing

capacity by Oct. 17, when it will have only about $30 billion

left in cash to honor its obligations if the limit is not

raised.

The region's largest index, Brazil's Bovespa rose

0.85 percent, led by a 4.76 percent rise in the shares of oil

firm OGX, controlled by embattled billionaire Eike

Batista.

Mexico's IPC index rose 1.56 percent, as shares in

telecommunications company America Movil jumped 2.14

percent.

Chile's IPSA rose 1.14 percent, buoyed by a 2.01

percent rise in shares of retailer Falabella.

Latin America's key stock indexes at 2315 GMT:

Stock indexes daily % year-to-da

Latest change te %

change

MSCI LatAm 3,386.53 1.95 -10.83

Brazil Bovespa 52,996.64 0.85 -13.05

Mexico IPC 40,489.95 1.56 -7.36

Chile IPSA 3,819.44 1.14 -11.20

Chile IGPA 18,804.09 0.93 -10.76

Argentina MerVal 5,165.46 4.42 80.97

Colombia IGBC 14,157.41 0.42 11.78

Peru IGRA 15,488.27 -0.15 -24.92

Venezuela IBC 1,783,938.30 0.88 278.40

View Comments