EMERGING MARKETS-Latam stocks up; Mexican, Colombian pesos lead FX gains

* Mexican, Colombian pesos rise on oil prices * Chile's peso supported by copper gains * U.S. jobs report helps risk appetite * Rising COVID-19 cases still weigh (Adds comments, updates prices) By Shreyashi Sanyal July 2 (Reuters) - Latin American stocks and currencies rose on Thursday, led by oil- and metal-linked currencies, after record U.S. job gains boosted hopes for a swift recovery from the pandemic-triggered recession. Data showed the U.S. economy added 4.8 million jobs in June as the country started to reopen from a coronavirus-driven lockdown. Wall Street initially rallied on the news but tempered gains as Florida reported a record-shattering 10,000 new COVID-19 cases, fueling demand for the safe-haven dollar. Brazil's real and stocks gained after industrial production rose 7% in May, its second biggest monthly increase on record as economic activity started to pick up. "Going forward, we expect the underperforming industrial sector to enter a gradual recovery path in tandem with the expected gradual easing of social distancing protocols and measures to limit movement and activity," Goldman Sachs analysts wrote in a note. Gains on the day were constrained in Latin America as coronavirus cases and deaths continued to rise. The death toll in Brazil, the region's largest economy, surpassed 60,0000 on Wednesday, while the number of infections crossed 1.4 million. The Mexican and Colombian pesos rose on higher oil prices, as crude markets bet on improving demand in the wake of the positive U.S. jobs report. Chile's peso rose about 0.9% as the price of copper, Chile's top export, rallied on supply disruptions in the country. Chilean stocks jumped 3.5%. Global miner BHP said on Wednesday it would begin to ramp down activity at its small Cerro Colorado copper mine in Chile due to the coronavirus. Emerging market equities had started the second half of the year on solid footing, posting strong gains in the June quarter as they recovered from the coronavirus-triggered sell-off. Still, they were well off pre-pandemic highs, as an increasing number of virus cases stifled extended gains. "South America is sliding into the worst downturn it's seen since 1901 due to the corona crisis. That is a shame as so many areas of Latam were showing so much potential," Danielle DiMartino Booth, chief executive and chief strategist at Quill Intelligence, told the Reuters Global Markets Forum. Argentina may alter the proposed payment schedule for its restructured bonds, a report said. The country's creditors have about 22 days to clinch a deal to revamp about $65 billion in distressed bonds. Key Latin American stock indexes and currencies at 2020 GMT: Stock indexes Latest Daily % change MSCI Emerging 1023.61 2.25 Markets MSCI LatAm 1935.89 0.89 Brazil Bovespa 96196.06 -0.01 Mexico IPC 37864.49 0.65 Chile IPSA 4177.26 3.47 Argentina MerVal 39524.06 -0.81 Colombia COLCAP 1118.97 0.82 Currencies Latest Daily % change Brazil real 5.3611 -0.24 Mexico peso 22.4517 0.95 Chile peso 801.5 1.52 Colombia peso 3644.47 1.89 Peru sol 3.5208 0.20 Argentina peso 70.5700 -0.07 (interbank) Argentina peso 125 2.40 (parallel) (Reporting by Shreyashi Sanyal and Ambar Warrick in Bengaluru; Additional reporting by Lisa Pauline Mattackal in Bengaluru; editing by Jonathan Oatis and Richard Chang)