Chile stocks rise on U.S. data, peso slips

SANTIAGO, April 30 (Reuters) - Chilean stock indexes rose with global markets on Wednesday on better-than-expected U.S. growth data and amid positive local earnings reports, traders said.

The peso slipped against the dollar as U.S. growth suggested interest rates may not have to be cut much further.

On the bourse, the all-market IGPA index .IGPA advanced 0.73 percent to 14,011 points, while the blue-chip IPSA .IPSA rose 0.93 percent to 2,994 points.

"Global markets are up, thanks to news about the U.S. GDP," said Pamela Auszenker, an analyst with the BCI brokerage. "Corporate earnings reports that have come out today have been relatively good, so that's affecting stocks too."

On the blue-chip index, 21 issues traded higher, nine fell and 10 traded unchanged, in early afternoon trade.

Gains were led by industrial conglomerate Copec COP.SN, weighted at 16 percent of the IPSA, as its stock rose 1.7 percent to 7,680 pesos. Copec reported a decline in first quarter earnings to $279 million, as a cheaper dollar offset rising rising wood pulp prices and volumes.

Auszenker said Copec's overall performance was at the upper end of expectations.

Other rising shares included regional retailer Cencosud CEN.SN, as its shares rose 1.85 percent, before it reported first-quarter financial results.

Leading fertilizer exporter SQM SQM_pb.SN saw its shares rise 2.45 percent after reporting on Tuesday that its first quarter profit rose 51 percent, boosted by higher world prices for fertilizers.