MEXICO CITY Jan 10 Mexican stocks posted their
biggest one-day gain since last November on Friday, after
underwhelming U.S. jobs data raised hopes the U.S. Federal
Reserve will slow its rollback of a bond-buying scheme that has
boosted emerging market equities.
Mexico's IPC index rose 2.10 percent to close at 42,458.51
points, while Brazil's Bovespa index, which also
benefited from the weaker-than-expected jobs data, rose 0.76
points to 49,696.45 points.
Data released on Friday showed U.S. employers hired the
fewest workers in nearly three years in December, handing the
Fed a headache as it mulls how quickly to scale back its massive
monetary stimulus program.
The Fed, which already trimmed its $85 billion in monthly
bond buying by $10 billion last month, has said it will roll
back the stimulus incrementally as the U.S. economy improves.
In Mexico, where stocks ended the week up nearly 1 percent,
shares in broadcaster Televisa drove gains on
Friday, rising 3.63 percent.
In Brazil, stocks ended the week down 2.52 percent. On
Friday, shares in state-oil producer Petrobras led
the index higher, rising 1.72 percent, while shares in iron-ore
producer Vale added 0.53 percent.
Chile's IPSA index dropped 0.68 percent on Friday to
close on 3,620.46 points, its lowest level in more than 4
months. The index lost 2.11 percent over the week.
The index was weighed down by a 5.89 percent decline in
shares of Banco de Chile. Shares fell the day after the
Chilean bank's majority owner said it was seeking to sell the
equivalent of up to around $1 billion in stock.