Mexican stocks dip ahead of earnings season

MEXICO CITY Oct 7 (Reuters) - Mexican stocks slipped on Wednesday following two days of steep gains, as investors paused ahead of the earnings season's first reports, while the recently battered peso currency firmed.

The IPC stock index .MXX dipped 0.24 percent to 29,619 after a 3.5 percent gain since Monday, while the peso MXN= MEX01 rose 0.14 percent to 13.48 per U.S. dollar.

"If risk appetite improves, as in recent days, the peso could get to around 13.30 per U.S. dollar," wrote Invex brokerage in a report.

Mexico is closely bound to the economy of the United States, its top trading partner, and third-quarter earnings due later Wednesday from Alcoa Inc (AA.N) could influence investors looking for proof that corporate profits will support recent stock gains.

In stock trading, shares in wireless provider America Movil (AMXL.MX) slipped 0.49 percent to 30.77 pesos, while bank Inbursa (GFINBURO.MX) lost 1.6 percent to 38.19 pesos.

Offsetting losses, Alfa (ALFAA.MX), which makes auto parts, petrochemicals and cold meat, rose 2.91 percent to 72.54 pesos.

Wal-Mart de Mexico (WALMEXV.MX) edged up 0.38 percent to 47.39 pesos ahead of third-quarter results on Thursday, with the dominant retailer seen posting a 15 percent jump in net profit.

(Reporting by Michael O'Boyle; editing by Jeffrey Benkoe)