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EMERGING MARKETS-Brazil stocks gain on China outlook, Gol sinks

* Brazil Bovespa up 0.74 pct, Mexico IPC down 0.3 pct

SAO PAULO, Nov 13 (Reuters) - Brazilian stocks rose on

Wednesday, with investors encouraged by a pledge for economic

reform by policymakers in top trade partner China, while shares

of airline Gol plunged after it posted a seventh straight

quarterly loss.

Mexico's IPC index edged toward its lowest close

since late August, while Chile's bourse fell for the

third session in four.

China's leaders pledged to let markets play a "decisive"

role in the economy as they unveiled a reform agenda for the

next decade on Tuesday, looking to secure new drivers of future

growth and achieve clear results by 2020.

"China's government wants to increase growth, particularly

with domestic consumption," said Leandro Silvestrini, a broker

with Intrader in Sao Paulo. "That is very relevant for Brazil if

it is put in practice and investors are digesting that today and

driving the market higher."

China is Brazil's top trading partner and a key purchaser of

Latin American commodities exports such as iron ore, soy, copper

and petroleum. A stronger Chinese economy would likely lead to

higher prices for products exported by Brazil's largest listed

companies, such as state-run oil firm Petroleo Brasileiro SA

, known as Petrobras, and mining firm Vale SA

.

Brazil's benchmark Bovespa stock index rose for the

second session in three, adding 0.74 percent to 52,187.58.

Petrobras shares rose 2 percent, contributing most to the

index's gains.

Earlier on Wednesday the company announced a deal to sell

its Peruvian oil and gas assets to PetroChina, China's

top oil and gas firm, and its parent China National Petroleum

Corp (CNPC) for $2.6 billion.

Shares of Gol Linhas Aereas fell nearly 5

percent, their biggest drop in over a month, after the airline

posted its seventh straight quarterly loss and forecast no

rebound in the domestic market next year.

Common shares of telecommunications firm Grupo Oi

rose 1.4 percent after the company beat profit forecasts on

Wednesday and pledged lower capital spending next year in an

effort to cut debt.

Mexico's IPC index dropped for the eighth straight

session, losing 0.3 percent.

Shares of telecommunications firm America Movil

slipped 1 percent, contributing most to the index's decline,

while bottling firm Femsa fell 1.5 percent.

Chile's IPSA index fell 1.6 percent as shares of

retailer Falabella dropped 3.2 percent.

Latin America's key stock indexes at 1758 GMT:

Stock indexes daily % YTD %

Latest change change

MSCI LatAm 3,224.31 0.37 -15.42

Brazil Bovespa 52,187.58 0.74 -14.38

Mexico IPC 39,474.15 -0.3 -9.68

Chile IPSA 3,720.92 -1.6 -13.49

Chile IGPA 18,424.50 -1.37 -12.56

Argentina MerVal 5,274.58 0.04 84.79

Colombia IGBC 13,315.59 1.59 -9.52

Peru IGRA 15,901.60 0.08 -22.92

Venezuela IBC 2,368,947.11 -3.37 402.49