EMERGING MARKETS-Mexico, Brazil stocks fall to 1-month lows

Reuters

MEXICO CITY, Oct 8 (Reuters) - Mexican and Brazilian stocks

fell to a one-month low on Tuesday amid rising worries that a

political crisis in Washington could disrupt global markets and

derail growth around the world.

Brazil's benchmark stock index is down about 6 percent from

a high in mid-September, while Mexico's main gauge has fallen

nearly 5 percent from its peak last month.

Latin American stocks could keep suffering in the coming

sessions if feuding U.S. lawmakers fail to end a partial U.S.

government shutdown and concerns grow that Congress will not

raise the U.S. debt borrowing limit this month.

* Brazil's Bovespa lost 0.2 percent to 52,312.44

points, paring steeper intra-day losses that took it below the

52,000 level during the session. Sinking past that support level

could lead to deeper losses ahead.

* Commodity producers that often track global sentiment

fell. Oil firm Petrobras lost 1.66 percent, while

iron miner Vale dipped 0.67 percent.

* Brazilian telecom Grupo Oi SA rose 3.93 percent

after the company assured investors late on Monday that its

merger with Portugal Telecom SGPS SA would not dilute

Oi shareholders.

* Wood pulp producers Fibria Celulose SA and

Suzano Papel e Celulose SA gained 3.36 percent and

2.1 percent respectively after Goldman Sachs analysts raised

their recommendation on the stocks from "neutral" to "buy."

* Mexico's IPC stock index fell 1.32 percent after it

fell below support at 40,000 points. Billionaire Carlos Slim's

telecommunications giant America Movil shed 2.05

percent, while cement maker Cemex lost 2.53 percent.

Latin America's key stock indexes at 2120 GMT:

Stock indexes daily % YTD %

Latest change change

MSCI LatAm 3,330.54 -0.6 -12.3

Brazil Bovespa 52,312.44 -0.2 -14.17

Mexico IPC 39,916.84 -1.32 -8.67

Chile IPSA 3,809.79 -0.08 -11.43

Chile IGPA 18,763.60 -0.09 -10.95

Argentina MerVal 4,925.69 0.03 72.57

Colombia IGBC 14,134.54 0.45 -3.95

Peru IGRA 15,551.31 0.13 -24.62

Venezuela IBC 1,738,670.47 -0.9 268.80

View Comments (0)