MEXICO CITY: Latin American stocks rose on Monday, helped by data showing stronger-than-expected manufacturing expansion in China and solid business activity in Europe, which bodes well for the region's exports.
Brazilian stocks headed back toward the nearly 4-month high reached last week when the US Federal Reserve kept in place its stimulus program that has supported demand for riskier assets. Mexican stocks are trading close to a one-month high.
* China's factory sector grew at its fastest pace in six months in September while euro zone business activity also picked up its growth rate, surveys showed. China is Brazil's top trading partner.
* Brazil's benchmark Bovespa stocks index rose 0.91 percent to 54,602.38 points.
* Citigroup analysts expect the Bovespa to rise another 10 percent by year end, after the Fed's move lifts demand for riskier assets, such as emerging market stocks.
* Shares of Brazilian banks rose after Credit Suisse recommended investors increase their exposure to the industry as interest rates rise off record lows to control inflation.
* Shares of Ita? Unibanco Holding SA, Brazil's No. 1 bank by market value, rose 0.8 percent while shares of Banco Bradesco SA gained 0.69 percent.
* Shares in Brazilian billionaire Eike Batista's oil firm OGX rose 2.63 percent after the company, which is renegotiating its outstanding debt, named a new chief financial officer.
* Mexico's IPC index rose 0.22 percent as shares in billionaire Carlos Slim's America Movil rose 2.02 percent.
* Shares in retailer and bottler Femsa fell 1.36 percent after it said it will buy 80 percent of fast-food chain Dona Tota, marking its first venture into the restaurant business.
* Mexican dairy company Grupo Lala, one of the biggest in Latin America, said on Monday it plans to launch a long-awaited initial public offering.
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