EMERGING MARKETS-Mexico stocks rise on energy reform optimism, China lifts Brazil


* Brazil Bovespa gains 0.43 pct, Mexico IPC up 0.87 pct

MEXICO CITY, Dec 9 (Reuters) - Mexican stocks rose on Mondayas investors cheered an energy reform bill that offers thebiggest opening up of the country's energy sector in decades toprivate investors.

Brazilian stocks also rose, gaining for the third straightsession following better than expected Chinese economic data,though shares of chemical maker Braskem SA droppedafter the company said it is renegotiating a key contract.

Mexico's IPC index posted its biggest one-day gainsince the end of November on optimism over an energy reformbill, which would open up the world's No. 10 oil producer toprivate investment by allowing lucrative contracts.

The unexpectedly market-friendly bill, which would letprivate firms partner with ailing state oil firm Pemex via profit-sharing, risk-sharing and service contracts as wellas licenses, is expected to be voted on shortly.

Brazil's benchmark Bovespa stock index rose 0.43percent to 51,165.38 as steelmakers and commodities producersled gains.

China's exports handily beat forecasts in November, adding toevidence of economic stabilization in Brazil's top tradingpartner, while consumer inflation dropped unexpectedly, easingconcerns over monetary policy tightening.

China is a key purchaser of Latin American commoditiesexports such as iron-ore, petroleum, soybeans and copper.

Brazilian steelmaker Usinas Siderurgicas de Minas Gerais SA, known as Usiminas, rose 1.5 percent, while rivalCompanhia Siderurgica Nacional SA rose 2.00 percent.

Preferred shares of iron-ore producer Vale SA advanced 0.55 percent.

Shares of Braskem, Latin America's largest petrochemicalfirm, fell nearly 5 percent after the company said on Mondaythat it is in negotiations with Petrobras, its main naphthasupplier. A source with knowledge of the situation told Reutersthat Petrobras is looking to pass on some of its higher costs toBraskem when the contract, which expires early next year, isrenegotiated.

Mexico's IPC index rose 0.87 percent to 42,289.23.

Shares of telecommunications firm America Movil,controlled by billionaire Carlos Slim, rose 1.18 percent,contributing most to the index's gains, while miner andinfrastructure company Grupo Mexico, which is seenas a key beneficiary of the energy reform, advanced 3.07percent.

Chile's IPSA index hovered near Friday's closinglevel as a 2.24 percent rise in shares of Latam Airlines GroupSA helped offset a 1.55 percent fall in conglomerateCopec.

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