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EMERGING MARKETS-Brazil shares up as JBS jumps on appeals court ruling

SAO PAULO, July 13 (Reuters) - Brazilian shares rose on Thursday as JBS SA stocks jumped after the world's largest meatpacker got permission from an appeals court to sell assets. JBS common shares rose as much as 9.7 percent to 7.24 reais, a one-month high, after Brazil's Regional Federal Court of the 1st Region overturned a ruling blocking the $300 million sale of a South American unit to rival Minerva SA . The ruling "sends a positive signal related to the company's divestment plan," analysts at UBS Securities wrote in a note to clients, referring to JBS's 6 billion reais ($1.9 billion) asset-sale program. The transaction could help JBS's controlling shareholder J&F Investimentos SA pay a massive leniency fine after becoming embroiled in graft probes that have ensnared politicians and executives. On Wednesday, J&F agreed to sell a controlling stake in Havaianas flip-flop maker Alpargatas SA to the investment firms of Brazil's most prominent banking families for 3.5 billion reais. Preferred shares in Alpargatas rose 4.2 percent. Brazil's benchmark Bovespa stock index rose 0.5 percent, but the Brazilian real was nearly flat on investor caution over the political environment. A congressional committee was set to vote on Thursday on corruption charges against President Michel Temer after its rapporteur recommended the body vote to put him on trial. Some traders fear that could delay the implementation of his agenda of structural reforms, which include revamps of the country's pension system and labor laws. Most other Latin American currencies strengthened after U.S. Federal Reserve Chair Janet Yellen's dovish tone in testimony to a Senate panel supported expectations of a slow pace of rate hikes in coming months. The Mexican peso firmed 0.3 percent, its sixth straight daily gain.

Key Latin American stock indexes and currencies at 1710 GMT:

Stock indexes Latest Daily YTD pct pct

change change

MSCI Emerging Markets 1,040.50 1.03 19.44 MSCI LatAm 2,684.61 0.87 13.7 Brazil Bovespa 65,173.20 0.52 8.21 Mexico S&P/BVM IPC 50,781.44 -0.06 11.26 Chile IPSA 4,969.31 0.25 19.70 Chile IGPA 24,796.32 0.25 19.59 Argentina MerVal 21,992.90 -1.06 30.00 Colombia IGBC 11,078.44 -0.39 9.38 Venezuela IBC 128,100.21 2.88 304.04 Currencies Latest Daily YTD pct pct

change change

Brazil real 3.2084 -0.05 1.27 Mexico peso 17.7275 0.26 17.02 Chile peso 660.5 0.36 1.54 Colombia peso 3,038.88 0.27 -1.23 Peru sol 3.25 0.03 5.05 Argentina peso (interbank) 16.9600 -0.06 -6.40 Argentina peso (parallel) 17.53 -0.17 -4.05

(Reporting by Bruno Federowski; Editing by Chris Reese)