EMERGING MARKETS-Brazil, Mexico stocks fall amid market volatility

(Updates prices) SAO PAULO, Feb 7 (Reuters) - Mexican stocks fell again on Wednesday in the wake of the recent wild swings on Wall Street, and Brazilian equities were dragged down by shares of Petrobas. Brazil's benchmark Bovespa index led losses in the region, down 1.34 percent in afternoon trade. Among the biggest drags on the exchange were shares of Petróleo Brasileiro SA, which have fallen amid a decline in oil prices. Mexico's IPC fell 0.58 percent, extending losses from Tuesday when markets opened to the news of Wall Street's biggest sell-off in six years. Analysts said they were also discouraged UBS Wealth Management investment strategist Ronaldo Patah said the Brazilian market would continue to be volatile until new U.S. economic data is released, particularly regarding inflation. Nonetheless, he remains bullish about the market. "At the start, we view (the declines) as a correction, an opportunity to buy," he said. Among currency markets, the Chilean peso rose 0.11 percent after the central bank posted a January trade surplus of $1.21 billion, up 7 percent from the previous year as prices for key export copper improved. The Mexican, Colombian and Argentine peso currencies all slid slightly in the face of a strengthening global dollar.

Key Latin American stock indexes and currencies at 2036 GMT:

Stock indexes daily % YTD % Latest change change MSCI Emerging Markets 1172.45 -0.32 1.53 MSCI LatAm 3048.94 -0.97 8.87 Brazil Bovespa 82766.73 -1.34 8.33 Mexico IPC 49020.85 -0.58 -0.68 Chile IPSA 5750.61 0.94 3.34 Chile IGPA 28953.98 0.81 3.48 Argentina MerVal 31607.06 -0.05 5.13 Colombia IGBC 11736.17 -0.21 3.21 Venezuela IBC 3200.14 0 153.35 Currencies daily % YTD % change change


Brazil real 3.2711 0.14 1.29 Mexico peso 18.7350 -0.72 5.15 Chile peso 598.84 0.11 2.64 Colombia peso 2847 -0.64 4.74 Peru sol 3.25 -0.18 -0.40 Argentina peso 19.6850 -0.48 -5.51


Argentina peso 19.8 0.45 -2.88


(Reporting by Gram Slattery and Julia Love; additional reporting by Sheky Espejo; Additional reporting by Walter Bianchi in Buenos Aires; Editing by Bernadette Baum and Tom Brown)