EMERGING MARKETS-Stocks up, FX gains on Brazil's real boost

* Petrobras ends 4 divestment processes after review * Brazilian court OKs Samarco debt reorganization plan * FX adds 0.2%, stocks rise 0.4% By Shubham Batra Sept 4 (Reuters) - Latin American currencies rose on Monday led by gains in the Brazilian real ahead of economic data this week, while state-run Petrobras halted some asset sales after a revision of disinvestment processes. MSCI's index for Latin American currencies gained 0.2% against a softer dollar. The Brazilian real led the gains, rising 0.3% against the greenback. Consumer prices in Sao Paulo, Brazil's most populous city, fell 0.20% in August, from a decline of 0.14% in July, the IPC-FIPE index showed. Colombian peso also rose 0.3%. Chile's peso fell 0.4% after copper prices retreated as the market fretted over demand in top consumer China and rising inventories in London Metal Exchange-registered warehouses. The country's total copper production rose 1.7% in July on a yearly basis to reach 430,900 metric tons. Meanwhile, the currency of another top copper producer Peru added 0.2%. Mexico's peso lost 0.6% against the dollar amid expectations that major producers would keep oil supplies tight, as hopes grew for the Federal Reserve to leave interest rates unchanged to avoid dampening the U.S. economy. Mexican gross fixed investment rose 3.1% in June from the previous month, the national statistics agency said. "Mexican growth remained resilient in the second quarter of 2023, but we continue to expect the economy to lose momentum in the remainder of the year and into 2024," TS Lombard's Wilson Ferrarezi said in a note. EM stocks also gained 0.3%, driven by 0.5% rise in Brazil's Bovespa index. Australian mining giant BHP said on Monday a Brazilian court had approved the reorganization plan for its Samarco joint venture, clearing the way for the cash-strapped Brazilian miner to move ahead with a $3.7 billion debt restructuring. Samarco is 50% owned by BHP and 50% by Vale, which rose 1.2% in early trade. Shares of Petrobras were flat after the Brazilian state-run oil company said it had decided to halt some key asset sales after concluding a broad revision of divestment processes that were launched during the country's previous administration. Trading volumes were subdued because of the Labor Day holiday in the United States. Key Latin American stock indexes and currencies: Latest Daily % change MSCI Emerging Markets 996.12 1.06 MSCI LatAm 2388.24 0.26 Brazil Bovespa 118472.65 0.49 Mexico IPC 53179.96 0.07 Chile IPSA 5991.04 -0.09 Argentina MerVal 0.00 0 Colombia COLCAP 1082.14 -0.24 Currencies Latest Daily % change Brazil real 4.9250 0.26 Mexico peso 17.1811 -0.61 Chile peso 853.6 -0.42 Colombia peso 4049.37 0.28 Peru sol 3.68 0.20 Argentina peso (interbank) 350.0000 0.03 (Reporting by Shubham Batra in Bengaluru; Editing by Alison Williams)