EMERGING MARKETS-Latam stocks cautiously higher on U.S. debt hopes
MEXICO CITY, Oct 11 (Reuters) - Latin American stocks rose
on Friday as investors bet that the U.S. Congress will reach an
agreement to avert a debt default.
President Barack Obama and congressional Republican leaders
inched toward resolving their fiscal impasse on Friday, but
struggled to agree on the length and terms of a short-term deal
to increase the U.S. debt limit and reopen the government.
* Mexico's benchmark IPC index gained 1.2 percent,
boosted by a 2.62 percent rise in shares of telecom company
America Movil. The index is still down more than 6
percent this year.
* Brazil's benchmark Bovespa index gained 0.29
percent, supported on Friday by gains in miner Vale
which saw shares rise 1.51 percent.
* Reuters reported on Friday that Vale has revived talks
with Glencore Xstrata over a potential combination of
the mining groups' nickel operations in Canada's Sudbury basin,
to cut costs as prices for the metal languish.
* Chile's main index rose 0.46 percent on gains in
retailer Cencosud.
Latin America's key stock indexes at 2317 GMT:
Stock indexes daily % YTD %
Latest change change
MSCI LatAm 3,414.02 0.81 -10.11
Brazil Bovespa 53,149.62 0.29 -12.80
Mexico IPC 40,975.37 1.2 -6.25
Chile IPSA 3,837.16 0.46 -10.79
Chile IGPA 18,876.65 0.39 -10.41
Argentina MerVal 5,241.88 1.47 83.65
Colombia IGBC 14,240.31 0.59 -3.23
Peru IGRA 15,460.93 -0.18 -25.05
Venezuela IBC 1,829,905.3 2.58 288.15
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