Commodity stocks hit Brazil's Bovespa; real falls

SAO PAULO, Aug 8 (Reuters) - Brazil's stock market fell on Friday as a slide in commodity prices weighed on oil company Petrobras and miner Vale, although shares of airlines TAM Linhas Aereas and Gol Linhas Aereas charged higher.

Sao Paulo's main stock index, the Bovespa .BVSP, fell 0.76 percent to 56,584.40 as a sell-off in oil inspired U.S. stocks to rally.

Brazil's currency, the real BRBY, eased 1 percent to 1.609 per dollar, trading weaker than 1.6 to the greenback for the first time since July 17.

"The euro and commodities are trading much lower and that is giving some strength to the dollar," said Francisco Carvalho, manager of currency trading at brokerage Liquidez.

Interest rate futures <0#DIJ:> on the BM&F commodities and futures exchange in Sao Paulo fell after government data on Friday showed benchmark inflation slowed sharply in July from June. For details see [ID:nN08414683].

On the stock exchange, state-run energy company Petrobras (PETR4.SA: Quote, Profile, Research) lost 0.92 percent to 33.55 reais as global crude prices sank more than 4 percent on concerns that a slowdown in economies in Asia and Europe will cut energy demand.

Petrobras, due to report second-quarter earnings after the close of markets on Friday, agreed to buy Exxon Mobil's stake in a fuels distribution business in Chile for $400 million.

On Thursday the state-run oil giant announced a discovery of light oil in the Santos Basin, off the coast of Sao Paulo.

"Petrobras' good news was overshadowed by the impact from the fall in oil prices," said Alvaro Bandeira, director of brokerage Agora.