By Carla Mozee

Major Latin American equity markets ended mixed Monday, with one of Brazil's market heavyweights slumping as oil prices fell, while Mexico's index ticked up to a fresh record high after the country posted a rise in industrial output.

Brazil's Bovespa, tracking the largest stock market in the region, fell 1.1% to 70,614.36, its second session of losses. The retail sector was the only one tracked on the Bovespa that gained ground, with shares of department store operator Lojas Renner up 1.4%.

The Bovespa index rose 0.4% last week, and is up 3.5% this year.

Shares of Petroleo Brasileiro (PBR), the state-run oil giant, slid 2.4% on Monday, following a decline in oil prices on concerns about a potential increase in stockpiles this week. Crude oil for May fell 0.7% to $84.34 a barrel.

Meanwhile, Jose Sergio Gabrielli, Petrobras' chief executive, reportedly said the company is still planning to sell new shares before the first half of this year ends. The company aims to invest up to 250 billion reals in 2011 through 2014 to develop the pre-salt oil region in offshore Brazil.

Brazilian lawmakers are currently discussing a plan that would give the government greater control over the country's huge reserves in exchange for a bigger stake in Petrobras.

Separately, and earlier Monday, Petrobras' shares were downgraded to market perform from outperform by Bernstein, according to Briefing.com.

In Mexico City, the IPC index rose 12 points to 33,852.39 for a new record high. The index ended on Friday at a record high, as well.

Investors received a report from the country's statistics agency that industrial output in February rose 4.4% compared with the year-ago period, the third consecutive month of increases. Industrial manufacturing climbed 8.8% and mining activity rose 2.3% while oil output fell 1%.

The reading fell shy of the 4.6% forecast by analysts surveyed by Dow Jones Newswires. Output rose 0.59% on a seasonally adjusted basis from January.

In the market, shares of conglomerate Grupo Carso rose 0.9%. Retail and finance stocks were higher, but shares of miners, communications firms and some consumer discretionary stocks moved lower. Shares of brewer Grupo Modelo (GPMCY) fell 0.6%.

Chile's IPSA fell 0.5% to 3,822.27 and Argentina's Merval fell 0.1% to 2,507.55.

Among exchange-traded funds, the iShares MSCI Chile Investable Market Index fund (ECH) fell 0.9%. The iShares MSCI Mexico Index fund (EWW) rose 0.2%, and the iShares MSCI Brazil Index fund (EWZ) fell 0.6%.

On Wall Street, the S&P 500 Index (SPX) rose 0.2% to 1,196. The Dow Jones Industrial Average (DJI) rose 0.8% to 11,005.97, the first time the blue-chip index has closed above 11,000 points since September 2008.