EMERGING MARKETS-Mexico stocks lead Latam rally after US auto data

Wed Sep 4, 2013 6:00pm EDT

Related Topics

* Strong U.S. auto sales boost Mexico's Alfa
    * Brazil Bovespa up 0.18 pct, Mexico IPC rises 0.59 pct

    MEXICO CITY, Sept 4 (Reuters) - Mexican stocks rose on
Wednesday, bolstered by strong automobile sales in the United
States, Mexico's top trading partner, while an improving outlook
among European businesses lifted Brazilian shares.
    Shares of Mexican conglomerate and auto parts maker Alfa
 jumped 4.35 percent after data showed U.S. auto sales
rose at their fastest pace in nearly six years. 
    The gains helped boost Mexico's IPC index by 0.59
percent. Mexico sends nearly 80 percent of its exports to its
northern neighbor.
    Meanwhile, shares of mining firm Grupo Mexico 
rose 1.05 percent even after the company lowered its estimate
for copper production this year by 3.5 percent from previous
forecasts. 
    Markit's final Composite Eurozone Purchasing Managers' Index
(PMI), a monthly survey of thousands of companies, showed the
euro zone economy appears to be on track to crawl out of
recession in the second half of the year. 
    The European data helped stocks in Brazil, which has more
trade links to the euro zone and less to the United States.
    Brazil's benchmark Bovespa stock index added 0.18
percent as state-run oil firm Petroleo Brasileiro SA,
known as Petrobras, jumped 1.64 percent.
    Chile's IPSA index rose for the fourth session in
five, led by a 1.65 percent gain in Banco Santander.
    
    Latin America's key stock indexes at 2042 GMT:
    
 Stock indexes                           daily %  year-to-da
                      Latest              change        te %
                                                      change
 MSCI LatAm                 3,089.90        1.69      -18.64
                                                  
 Brazil Bovespa            51,716.16        0.18      -15.15
                                                  
 Mexico IPC                39,773.53        0.59       -9.00
                                                  
 Chile IPSA                 3,618.64        0.14      -15.87
                                                  
 Chile IGPA                17,931.82        0.02      -14.90
                                                  
 Argentina MerVal           4,094.92        0.95       43.47
                                                  
 Colombia IGBC             13,805.55        0.51        9.00
                                                  
 Peru IGRA                 16,826.80        -0.6      -18.43
                                                  
 Venezuela IBC          1,386,390.73        1.54      194.08
FILED UNDER:
Comments (0)
This discussion is now closed. We welcome comments on our articles for a limited period after their publication.