EMERGING MARKETS-Chile's peso recovers after election-led slide

By Susan Mathew Dec 27 (Reuters) - The Chilean peso firmed 1% on Monday, recovering after its worst weekly drop since mid-November, while Turkey's lira fell 7% to erase some of the gains booked in last week's historic rally. The gains in the peso, which led a rise across most emerging market currencies in holiday-thinned trade, came after it lost 2.4% last week mainly due to fears over the economic direction likely to be adopted by leftist Gabriel Boric after his victory in the presidential run-off election. Currencies of oil exporting nations, Mexico, Colombia and Russia, inched up as crude prices cut some losses and looked to move higher. But analysts painted a bleak picture for Mexican economic growth after weak third-quarter economic growth data on Friday. "We have become more concerned about the negative inertia in some sub-sectors, especially within services, and believe downward risks to our 5.0% GDP (gross domestic product) growth estimate for the year have increased," said Citigroup strategists in a note. Coronavirus concerns also weighed, with several airlines across the globe cancelling flights on fears about the spread of the Omicron variant. Brazil's real and an index of EM currencies were flat. Turkey's lira dropped after rocketing more than 50% from record lows last week when new measures were unveiled to contain its free fall. Peru's sol was flat amid concerns about copper production at MMG Ltd's Las Bambas copper mine in the country. Peru is the world's second-largest producer of copper. An index of EM stocks rose. China shares ended steady, while most shares in emerging Europe, Middle East, Africa and Latin America rose. Chile stocks led gains among some of the major indices, up about 2% Key Latin American stock indexes and currencies at 1343 GMT: Stock indexes Latest Daily % change MSCI Emerging Markets 1221.76 0.1 MSCI LatAm 2106.61 0.3 Brazil Bovespa 105292.40 0.38 Mexico IPC - - Chile IPSA 4327.60 2.03 Argentina MerVal - - Colombia COLCAP 1401.66 0.44 Currencies Latest Daily % change Brazil real 5.6791 -0.03 Mexico peso 20.5926 0.04 Chile peso 857.2 0.78 Colombia peso 3980.1 0.19 Peru sol 3.9845 0.00 Argentina peso 102.5400 -0.22 (interbank) (Reporting by Susan Mathew in Bengaluru; Editing by Aditya Soni)