Mexican stocks rise sharply as America Movil jumps

MEXICO CITY, March 26 Tue Mar 26, 2013 10:48am EDT

MEXICO CITY, March 26 (Reuters) - Mexican stocks rose sharply on Tuesday, helped by a more than 1 percent gain in shares of America Movil, billionaire Carlos Slim's flagship telecommunications firm.

America Movil stock has rallied back about 12 percent from an around 4-year low hit on March 15 as investors bet a slump on concerns about tougher regulation were overblown.

The IPC stock index rose 1 percent, also boosted by gains in miner Grupo Mexico and bottler and convenience chain operator Femsa.