EMERGING MARKETS-Latam currencies dip on U.S. jobs data, Brazil stocks up

(Updates prices) SAO PAULO, Aug 4 (Reuters) - Latin American currencies fell on Friday as stronger-than-expected U.S. jobs figures bolstered the case for a third U.S. interest rate hike this year, spurring demand for dollars, while Brazilian stocks rose. U.S. nonfarm payrolls increased by 209,000 jobs last month, above analyst expectations, while June's report was revised to show a bigger gain. Average hourly earnings rose 0.3 percent after gaining 0.2 percent in June. The positive numbers followed mixed U.S. economic figures that had cast doubt over the likelihood the Federal Reserve would raise rates once more this year and three times next year. Higher U.S. rates could drain capital from emerging markets. The job and average hourly earnings numbers could clear the way for the Fed to announce a plan to start shrinking its $4.5 trillion bond portfolio in September. Still, some traders refrained from making big bets on U.S. monetary policy in the absence of clear signs of accelerating inflation. "Despite the jobs growth, the fall in the unemployment and underemployment rates, wage pressure is modest at best," analysts at Brown Brothers Harriman wrote in a note. Currencies from Brazil, Mexico and Chile slipped between 0.1 percent and nearly 0.4 percent. The Colombian peso led losses as traders edged toward the safety of the U.S. dollar ahead of a national holiday on Monday. Brazil's benchmark Bovespa stock index edged up, helped by a 4 percent gain in petrochemical firm Braskem SA after newspapers reported its controlling shareholders were considering moving to a U.S. headquarters.

Shares of loyalty program Smiles SA rose more than 2 percent after the company reported a 18.3 percent increase in second-quarter net profit. Meanwhile, shares of meatpacker BRF SA fell over 2 percent as traders booked profits after three days of gains.

Key Latin American stock indexes and currencies at 1955 GMT:

Stock Latest daily % YTD % indexes change change MSCI Emerging Markets 1066.99 0.27 23.4 MSCI LatAm 2779.77 0 18.76 Brazil Bovespa 66935.03 0.24 11.14 Mexico IPC 51327.99 0.07 12.46 Chile IPSA 5103.06 0.56 22.92 Chile IGPA 25465.86 0.52 22.82 Argentina MerVal 21717.06 -0.29 28.37 Colombia IGBC 10937.14 0.01 7.99 Venezuela IBC 176451.95 12.11 456.54 Currencies Latest daily % YTD % change change Brazil real 3.1237 -0.35 4.02 Mexico peso 17.8700 -0.14 16.08 Chile peso 650.6 -0.37 3.09 Colombia peso 2986 -1.07 0.52 Peru sol 3.245 -0.18 5.21 Argentina peso (interbank) 17.6700 0.00 -10.16 Argentina peso (parallel) 18.1 0.44 -7.07

(Reporting by Bruno Federowski; Editing by Tom Brown and Lisa Shumaker)