EMERGING MARKETS-Latin American markets pare losses as oil rallies
(Recasts with oil price rebound; adds details on Brazil stocks) By Bruno Federowski SAO PAULO, Oct 13 (Reuters) - Mexican stocks and currencies seesawed on Thursday after weak Chinese trade data weighed on demand for risky assets, but a late-day rally in oil prices helped limit losses. China's September exports fell 10 percent from a year earlier, a far bigger decline than analysts expected, while imports posted a surprise drop. Persistent concerns over economic weakness in the world's biggest commodities consumer have weighed on demand for assets in regions exporting raw materials, such as Latin America. But Latin American assets pared losses as oil prices rebounded to end higher after a U.S. government report of larger-than-expected consumption of diesel and gasoline. The Mexican peso was little changed, down 0.09 percent from the day prior. Mexico is a top crude exporter to the United States. Mexico's benchmark IPC stock index fell 0.36 percent, with financial institution Gentera and airport operator leading losses. Brazil's currency and stocks fared better than their peers, however, after a vote in Congress reinforced expectations that President Michel Temer will be able to limit public spending and curb the country's debt load. Shares of state-controlled oil company Petróleo Brasileiro SA , commonly known as Petrobras, rose following a bigger-than-expected drop in U.S. inventories of refined products. Miner Vale SA and steelmakers Usinas Siderúrgicas de Minas Gerais SA and Cia Siderúrgica Nacional SA saw losses, tracking commodities prices lower. The Brazilian real closed at 3.18 per dollar, a 0.57 percent gain from the previous day. Key Latin American stock indexes and currencies at 2100 GMT: Stock indexes Latest Daily pct YTD pct change change MSCI Emerging Markets 890.65 -1.34 12.15 MSCI LatAm 2,467.97 -0.6 34.88 Brazil Bovespa 61,118.58 0.16 40.99 Mexico IPC 47,741.54 -0.36 11.08 Chile IPSA 4,125.40 0.32 12.10 Chile IGPA 20,656.75 0.28 13.80 Argentina MerVal 17,234.81 0.15 47.62 Colombia IGBC 10,000.15 -0.08 17.00 Venezuela IBC 13,463.18 -0.19 -7.71 Currencies Latest Daily pct YTD pct change change Brazil real 3.1774 0.09 24.22 Mexico peso 18.9300 -0.09 -8.98 Chile peso 671.2 -0.66 5.74 Colombia peso 2,916.01 0.00 8.69 Peru sol 3.405 -0.15 0.26 Argentina peso 15.1300 -0.33 -14.19 (interbank) Argentina peso 15.5 0.19 -7.94 (parallel) (Reporting by Bruno Federowski; Editing by Meredith Mazzilli and Alan Crosby)
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