EMERGING MARKETS-LatAm stocks rise as geopolitical tensions lift commodity prices

Updates to mid-session trading

By Twesha Dikshit, Ragini Mathur and Johann M Cherian

Jan 14 (Reuters) - An index tracking stocks in resources-rich Latin America rose on Wednesday, as geopolitical tensions lifted prices of commodities, while caution was reflected more in currencies in the region that were broadly mixed.

MSCI's Latin American equities index .MILA00000PUS gained 1.4%, with equity benchmarks in Brazil .BVSP, Mexico .MXX, Colombia .COLCAP and Peru .MXNUAMPESCPGPE up more than 1% each.

Regional energy giants including Petrobras PETR3.SA and Ecopetrol ECO.CN gained over 4% each as crude prices climbed over 1.5% on worries about supply disruptions from the oil-rich Middle East region.

Iran warned neighbors hosting U.S. troops that it would hit American bases if Washington strikes, a senior Iranian official told Reuters. Following this, a U.S. official told Reuters that personnel from key bases in the region were withdrawing.

"The risks to the oil market from growing instability in Iran are much greater than in Venezuela. This is not only because Iran produces much more oil itself, but there are also a greater number of realistic flashpoints that could endanger global oil supplies," said Kieran Tompkins, an economist at Capital Economics.

Adding to crude supply concerns, China's oil imports from Venezuela are expected to slump starting from February as fewer tankers have managed to leave for Caracas' top crude buyer after the U.S. claimed control of the OPEC producer.

Against this backdrop, safe-haven gold prices advanced along with copper, lifting miners in the region such as Vale VALE3.SA, Grupo Mexico GMEXICOB.MX and U.S.-listed shares of Chile's SQM SQM.N.

REGIONAL CURRENCIES WAVER

On the currencies front, MSCI's gauge .MILA00000CUS slipped 0.1%, but was still close to record highs.

Brazil's real BRL= slipped 0.4%. Ahead of pivotal elections in the country later in the year, a poll showed that President Lula da Silva was leading his right-wing rivals.

Investors were also weighing the implications of the United States' decision to suspend immigrant visa processing for 75 nations that included Brazil.

Chile's peso CLP= drifted higher, tracking higher copper prices, while Mexico's peso MXN= was steady after two straight sessions of gains.

Colombia's peso COP= eased 0.9% after logging its biggest one-day gain since late November on Tuesday. The country raised $4.95 billion with the issuance of bonds due 2029, 2031 and 2033, in what is the Andean country's largest such deal.

In other emerging markets, Hungary's stocks .BUX ended 1.3% higher. Two polls showed the country's main opposition widened its lead over Prime Minister Viktor Orban's party ahead of an April election.

Elevated price growth in services at the beginning of the year will be a factor for keeping Czech monetary policy tight, central bank Vice-Governor Eva Zamrazilova said. The crown EURCZK= was little changed against the euro.

Key Latin American stock indexes and currencies at 2006 GMT:

(Reporting by Twesha Dikshit, Ragini Mathur and Johann M Cherian in Bengaluru; Editing by Alistair Bell and Sahal Muhammed)

((Twesha.Dikshit@thomsonreuters.com;))