April 9, 2013 / 9:14 PM / 4 years ago

EMERGING MARKETS-Latam stocks bloom on China inflation data

* China inflation cools in March, commodities exporters
rally
    * Brazil Bovespa gains 1.49 pct, Mexico IPC up 1.25 pct
    * Chile IPSA adds 1.15 pct

    By Asher Levine
    SAO PAULO, April 9 (Reuters) - Latin American stocks rose on
Tuesday after data showing a slowdown in Chinese inflation
boosted the outlook for more growth-inducing monetary stimulus
in the No. 1 market for the region's commodities.
    Mining and oil firms drove gains in Brazil's Bovespa index
, up 1.49 percent to 55,912.04 points, while Mexico's IPC
index added 1.25 percent, its best one-day gain in two
weeks.  
    Shares gained after data showed China's annual consumer
inflation rate eased in March, lifting concerns that
policymakers would tighten monetary policy, which could crimp
economic growth. 
    China is a key purchaser of Latin American commodities such
as iron-ore, soy, copper and petroleum.
    The Bovespa gained for the third straight session as shares
of heavily-weighted iron-ore mining firm Vale, which
counts China as its biggest customer, rose 4.22 percent.
    "If China does well, Vale does well," said Andre Perfeito,
chief economist with Gradual Investimentos in Sao Paulo. 
    State oil giant Petrobras also benefited, adding
4.25 percent. 
    Mexico's IPC index was also boosted by the China
data, closing at 43,973.18 points. Bottler Femsa 
rose 3.49 percent, driving gains in the index, while chemical
producer Mexichem lost 1.79 percent. 
    Chile's IPSA index gained for the second straight
session, adding 1.15 percent, as shares of Banco de Chile
 rose 2.31 percent.

    Latin America's key stock indexes at 2048 GMT:
    
 Stock indexes                                          %
                              Latest               change
                                                         
 MSCI LatAm                          3,841.12        1.81
                                                  
 Brazil Bovespa                     55,912.04        1.49
                                                  
 Mexico IPC                         43,973.18        1.25
                                                  
 Chile IPSA                          4,348.04        1.15
                                                  
 Chile IGPA                         21,328.36        0.88
                                                  
 Argentina MerVal                    3,474.78        2.82
                                                  
 Colombia IGBC                      13,702.56        0.38
                                                  
 Peru IGRA                          19,494.20        0.58
                                                  
 Venezuela IBC                     633,982.56       -0.18

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