EMERGING MARKETS-Latam FX, stocks advance after US inflation data; investors assess earnings

* Mexico's Televisa swings to net loss in Q3 * Vale's Q3 profit surpasses expectations * Brazil's Petrobras third-quarter oil output grows 9.6% * Stocks, currencies eye weekly gains * Latam stocks up 1.0%, FX gain 0.9% By Johann M Cherian Oct 27 (Reuters) - Most Latin American currencies and stocks advanced on Friday after data in the United States reflected a downward trend in inflation pressures, while investors assessed corporate earnings from Brazil and Mexico. The MSCI's gauge of local equities was up 1.0% by 1457 GMT. A basket of local currencies rose 0.9% against the dollar with Brazil's real, Mexico's peso and Colombia's peso adding between 0.05% and 0.8%. Investors took some comfort from U.S. data that showed personal consumption expenditure was broadly in line with expectations as they wait for a key Federal Reserve interest rate decision in the following week. "Markets have been trading a bit cautiously (so far) considering the environment of higher rates, and so, with an (inflation) print that essentially confirms what we already knew ... that's enough for markets to be more optimistic," said Juan Manuel Herrera, senior economist at Scotiabank. Copper producer Peru's sol also gained 0.7% as prices of the red metal gained following some signs of economic stability out of top consumer China. Markets of the other regional copper producer, Chile, were closed on account of a public holiday. South American stocks are on course for weekly gains of over 3%, while currencies are up nearly 2% for the week. Signs of economic resilience in Brazil, high oil prices and data reflecting economic recovery in top consumer China have buoyed regional assets despite U.S. rates jitters. Meanwhile, Brazil's Bovespa slipped 0.1%, with Suzano dropping 1.5% after the Brazilian pulpmaker reported a smaller-than-expected net loss in the third quarter. Vale SA gained 2.1% as the mining giant reported third-quarter net profit above market expectations. State-run oil firm Petrobras said its crude oil production during the third quarter rose 9.6% from a year ago. However, shares dipped 0.3%. The Mexican benchmark index also rose 0.5%, with Grupo Bimbo's falling 0.4% after the breadmaker's third-quarter net profit plummeted 31%, hurt by a stronger peso, weaker North American sales and higher costs. Televisa, the country's largest broadcaster posted a 4.9% dip in third-quarter revenues that swung its earnings into a net loss driven down by Sky, its satellite television unit. However, its shares were up 2%, reversing earlier losses. Elsewhere in emerging markets, Russia's rouble strengthened to 92.9 against the dollar after the central bank raised its key interest rate by a higher-than-expected 200 basis points, in response to a weak rouble and stubborn inflation pressures. Key Latin American stock indexes and currencies at 1514 GMT: Stock indexes Latest Daily % change MSCI Emerging Markets 921.01 1.11 MSCI LatAm 2241.00 1.02 Brazil Bovespa 114805.47 0.02 Mexico IPC 49386.13 0.43 Chile IPSA 0.00 0 Argentina MerVal 659752.17 -1.983 Colombia COLCAP 1096.55 1.16 Currencies Latest Daily % change Brazil real 4.9494 0.81 Mexico peso 18.0459 0.58 Colombia peso 4142.08 0.01 Peru sol 3.8543 0.03 Argentina peso (interbank) 349.9500 0.01 Argentina peso (parallel) 950 3.16 (Reporting by Johann M Cherian in Bengaluru; editing by Jonathan Oatis)