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EMERGING MARKETS-Brazilian assets recover; Mexico's peso, stocks fall

April 15 (Reuters) - Brazil's real and shares rose on Monday, recovering after declines last week, while the currencies of oil exporters such as the Mexican and Colombian pesos weakened as crude prices dipped.

The real firmed 0.5 percent in early trading before surrendering the gain to trade flat against a weaker dollar, while the Bovespa stock index rose for the first time in four days with a gain of 0.3 percent.

A rebound in shares of state oil firm Petroleo Brasileiro SA , which fell more than 7 percent on Friday, provided the biggest boost for the Bovespa index.

Petrobras, as the company is commonly know, slumped after it canceled a diesel price hike in the wake of Brazilian President Jair Bolsonaro's call for "fair" prices out of concern for truckers, spooking investors wary of political interference at the state-run oil firm.

Shares of iron ore miner Vale, however, dragged heavily on the index after a report that its decision to halt production at 10 sites in Minas Gerais state following a deadly dam disaster has affected deliveries of iron ore pellets to clients.

Ecorodovias fell almost 3 percent after the federal police on Friday carried out search-and-seizure warrants at its indirect subsidiary Eco 101.

Pension reforms were also a focus in Brazil, with investors monitoring a congressional committee which may begin discussing the changes on Monday.

Meanwhile, currencies in Mexico and Colombia slipped as oil prices fell on signals that Russia may exit production cuts.

Analysts at Metanalysis also pointed to some profit-taking in the Mexican peso, which has gained for six of the past eight sessions.

Shares in Mexico City slumped 0.7 percent, tracking a dip in world stocks as Wall Street fell on Goldman Sachs' disappointing results.

Stock indices in Chile and Colombia made small gains.

Key Latin American stock indexes and currencies at 1435 GMT: Stock indexes Latest Daily % change MSCI Emerging Markets 1086.47 -0.24 MSCI LatAm 2751.90 -0.32 Brazil Bovespa 93151.09 0.3 Mexico IPC 44513.85 -0.39 Chile IPSA 5240.58 0.02 Argentina MerVal 31517.64 0.51 Colombia IGBC 13130.80 0.01 Currencies Latest Daily % change Brazil real 3.8781 0.24 Mexico peso 18.8372 -0.46 Chile peso 662.5 -0.26 Colombia peso 3128.25 -0.49 Peru sol 3.298 -0.03 Argentina peso 41.3500 2.06 (interbank) (Reporting by Susan Mathew in Bengaluru Additional reporting by Noé Torres in Mexico City Editing by Paul Simao)