MEXICO CITY, Nov 18 (Reuters) - Brazilian stocks rose to a
two-week high on Monday after a market holiday Friday, boosted
by the announcement of economic reforms in top trade partner
China and the outlook for continued monetary stimulus from the
U.S. Federal Reserve.
Brazilian stocks have bounced back about 5 percent in the
last three sessions after hitting a two-month low last week, and
some chart analysts expect the country's main index could keep
gaining ground into year-end.
* Brazil's benchmark Bovespa stock index rose 1.6
percent to 54,307.04, its highest since Nov. 4. The index
rebounded last week off a key support level, and chart analysts
think it could resume an uptrend seen since July.
* China's leadership unveiled a series of economic reform
measures on Friday, pledging to let the market play a "decisive"
role in the economy and outlining changes designed to unleash
new sources of growth.
* China is Brazil's biggest trading partner and a key
purchaser of Latin American raw materials such as iron-ore, soy,
copper and petroleum.
* Shares of state-run oil company Petroleo Brasileiro SA
rose 4.84 percent while iron-ore miner Vale SA
added 2.07 percent.
* Latin American stocks have also gotten a boost since last
week on bets that Janet Yellen, who is set to lead the U.S.
Federal Reserve, will not move quickly to cut back the Fed's
monetary stimulus, which has supported demand for riskier assets
around the globe.
* Shares of steelmaker Cia Siderúrgica Nacional SA
rose 1.66 percent, adding to a 3.6 percent gain on
Thursday, when it reported a better-than-expected quarterly
profit. Grupo BTG Pactual analysts recommended investors take
profits on the shares as risks persist from logistics and mining
projects at the company.
* Chile's IPSA index rose 1.13 percent after
center-left presidential candidate Michelle Bachelet looked set
to win a run-off vote next month after an election on Sunday.
But her coalition failed to capture enough seats in the Senate
to assure she will be able to make good on a pledge to raise
* The IPSA had slumped to a more than two-month low last
week, but it has risen for the last three sessions.
* Chilean retailer Falabella added 1.95 percent
while Banco Santander Chile gained 2.48 percent.
* Mexican stocks were closed for a holiday. The country's
main index jumped 3 percent last week to close just below its
one-year exponential moving average, a level that has acted as a
strong resistance to further gains since the IPC index
fell below the measure in August.
Latin America's key stock indexes at 2330 GMT:
Stock indexes Latest daily % YTD %
MSCI LatAm 3,397.41 2.13 -10.54
Brazil Bovespa 54,307.04 1.6 -10.90
Mexico IPC 41,034.11 Closed -6.11
Chile IPSA 3,842.26 1.13 -10.67
Chile IGPA 18,853.39 0.8 -10.52
Colombia IGBC 13,435.65 -0.06 -8.70
Peru IGRA 15,556.41 -1.07 -24.59
Venezuela IBC 2,189652.91 -2.13 364.46