Mexico stocks hit 17 month high, Grupo Mexico jumps

MEXICO CITY Tue Nov 17, 2009 9:56am EST

MEXICO CITY Nov 17 (Reuters) - Mexican stocks rose sharply on Tuesday, boosted by a 7 percent jump in shares of miner Grupo Mexico (GMEXICOB.MX) after a U.S. judge favored the company's bid for bankrupt U.S. copper miner Asarco LLC.

The IPC stock index .MXX rose as much as 1.64 percent in opening trade to hit 31,510.51, its highest since early June 2008, also catching up to gains seen in U.S.-traded shares of local companies following a Mexican holiday. (Reporting by Michael O'Boyle; Editing by James Dalgleish)

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