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EMERGING MARKETS-Brazil stocks up as oil lifts Petrobras; political woes linger

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SAO PAULO, June 30 (Reuters) - Brazilian stocks rose on Friday as shares of state-controlled oil company Petróleo Brasileiro SA followed crude prices higher, though caution due to the country's political crisis lingered. Crude futures rose for the seventh straight session, in their longest bull run since April. Shares of Petrobras rose 1.8 percent, lifting the Bovespa stock index 1 percent. Shares of sewage and water utility Cia de Saneamento Básico do Estado de São Paulo SA advanced 1.7 percent after regulators allowed a higher-than-expected increase in tariffs charged by peer Copasa, fueling optimism over the sector. Shares of Cia de Saneamento de Minas Gerais, as Copasa is formally known, jumped 4.7 percent. Still, traders remained cautious and fearful of further delays in the implementation of President Michel Temer's agenda of structural reform amid mounting corruption scandals. The Brazilian real was nearly flat, weighed down by political concerns that drove its biggest quarterly loss in nearly two years. Most other Latin American currencies seesawed as investors pursued month-end adjustments to their portfolios. The Mexican peso slipped 0.2 percent, but still headed for its second quarterly gain in a row.

Key Latin American stock indexes and currencies at 1600 GMT:

Stock indexes daily % YTD % Latest change change MSCI Emerging Markets 1011.02 -0.3 17.6 MSCI LatAm 2543.85 0.48 8.17 Brazil Bovespa 62849.02 0.98 4.35 Mexico S&P/BVM IPC 49621.32 0.86 8.72 Chile IPSA 4745.75 0.33 14.32 Chile IGPA 23775.84 0.29 14.67 Argentina MerVal 21740.65 1.3 28.51 Colombia IGBC 10834.99 -0.08 6.98 Venezuela IBC 122949.66 -0.23 287.79 Currencies daily % YTD % change change

Latest

Brazil real 3.3057 0.05 -1.71 Mexico peso 18.0795 -0.18 14.74 Chile peso 663.5 0.14 1.09 Colombia peso 3049.6 -0.20 -1.58 Peru sol 3.246 0.00 5.18 Argentina peso (interbank) 16.5900 -0.51 -4.31 Argentina peso (parallel) 16.65 0.36 1.02

(Reporting by Bruno Federowski; Editing by Tom Brown)