MEXICO CITY Nov 15 Mexican stocks topped off
their best three day run in more than two months on Friday,
after Federal Reserve Vice Chair Janet Yellen lifted investor
appetite for riskier assets by defending the U.S. central bank's
Yellen, speaking at her confirmation hearing before the
Senate Banking committee on Thursday, stated that the Fed will
keep its stimulus program intact until the U.S. economy shows
more strength and stability.
The Fed's $85-billion monthly bond buying program had juiced
investor appetite for higher yielding emerging market assets and
fears of its removal have hit emerging market assets.
Mexico's IPC stock index, which is down more than 6
percent for the year, rose 1.8 percent on Friday to close at
41,034.11 points, its highest in over a week. Friday's gains
capped the index's best three consecutive sessions since mid
Shares of tycoon Carlos Slim's telecom giant America Movil
rose 2.36 percent, contributing most to the index's
Chile's Ipsa index rose 1.41 percent to close at
3,799.45 points, boosted by shares of Banco de Chile
and its rival Santander Chile, which rose 3.18 percent
and 2.54 percent respectively.
Former center left president Michelle Bachelet is forecast
to easily win Sunday elections in the South American country.
The Brazilian stock market was closed for a holiday.