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EMERGING MARKETS-Latam stocks join global rally, most currencies reverse losses

    * Lojas Renner jumps on share offer plan
    * SQM rises; PE firm makes bid to become top shareholder
    * Latam FX still up for the week
    * Chile's peso lags as copper prices fall

 (Recasts throughout, updates prices)
    By Susan Mathew and Ambar Warrick
    April 16 (Reuters) - Most Latin American stock indexes
rallied on Friday, joining global stock markets that notched
record highs as upbeat data from the world's two biggest
economies raised economic recovery hopes, while most regional
currencies reversed losses to trade higher.
    MSCI's index of Latam stocks hit two-month
highs, and looked to end the week in the black for the third
straight week, as did its currencies counterpart
.
    Brazil's Bovespa index was boosted by an 8.5% surge
in shares of apparel retailer Lojas Renner, which
confirmed a share offering plan. The company plans to raise
roughly 4.5 billion reais in the follow-on, a source familiar
with the matter said.
    But shares of oil major Petrobras weighed as oil
prices fell. The company's board elected four career executives
to head key company divisions, sending a message of some
continuity to a market wary of non-expert appointments to lead
the company.
    Chile's IPSA index hit highs not seen since
January last year, with shares of lithium miner Sociedad Quimica
y Minera de Chile, known as SQM, up 1.4% and
2.4%, respectively.
    Reuters exclusively reported that Brazilian private equity
firm IG4 Capital has delivered a $916 million bid to buy into
holding companies that have large stakes in the second largest
lithium producer in the world.
    Global stock markets notched all-time highs
as strong U.S. and Chinese economic data bolstered expectations
of a solid global recovery from a coronavirus pandemic-induced
slump.
    Most Latin American currencies, meanwhile erased session
losses as the dollar fell on declining U.S. bond yields, but
Chile's peso underperformed on the day, down 0.7%, as
copper prices fell 1%.
    Brazil's real firmed 0.8% to extend gains to a
fourth straight session, putting it on track for weekly gains of
about 1.8% - the best among major Latam currencies this week. 
    But an unabated rise in COVID-19 infections and the
government forecasting three straight years of massive budget
deficits underlined the long road to economic normalcy in
Latam's largest economy.
    "While aid programmes are arguably necessary, owing to the
continued escalation of the COVID-19 crisis, the lack of
progress toward extending the measures highlights how poorly the
administration is dealing with the Congress," analysts at TS
Lombard wrote in a note.
    "It also highlights the risk that the Congress will continue
to push for more spending." 
    Despite the easing pressure, most emerging market currencies
are still trading down for the year, as initial spikes in yields
spurred large outflows from risk-exposed debt.
     
    Key Latin American stock indexes and currencies:
 Stock indexes                    Latest     Daily % change
 MSCI Emerging Markets            1348.91    0.58
 MSCI LatAm                       2413.54    0.78
 Brazil Bovespa                   121119.17  0.35
 Mexico IPC                       48786.23   0.56
 Chile IPSA                       4991.25    0.99
 Argentina MerVal                 47348.57   0.542
 Colombia COLCAP                  1322.50    0.05
                                             
 Currencies                       Latest     Daily % change
 Brazil real                      5.5846     0.75
 Mexico peso                      19.9204    0.07
 Chile peso                       703.1      -0.77
 Colombia peso                    3601.27    0.26
 Peru sol                         3.6327     -0.22
 Argentina peso (interbank)       92.7900    -0.06
                                             
 
 (Reporting by Ambar Warrick in Bengaluru; editing by Jonathan
Oatis)
  
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