Mexico peso firms, stocks hit 3-month high

(Recasts, adds trader comments and background)

MEXICO CITY, April 13 (Reuters) - The Mexican peso firmed on Monday and stocks hit a three-month high on optimistic outlooks for U.S. banks and as local shares caught up with Wall Street's big gains late last week when Mexico's stock exchange was closed.

The peso MEX01MXN= strengthened to 13.096 per dollar, up 2.17 percent from Wednesday's close.

Mexican markets were closed Thursday and Friday for the Easter holiday. The peso surged last Thursday in international trade and on Monday was heading for its strongest central bank closing level this year.

The benchmark IPC stock index .MXX rose 3.49 percent to 21,247, boosted by a 4.33 percent rise in shares of America Movil (AMXL.MX: Quote, Profile, Research), Latin America's top cell phone operator, to 20.46 pesos.

America Movil's shares in New York (AMX.N: Quote, Profile, Research) surged 7.1 percent last Thursday, but slipped 0.5 percent to $31.21 on Monday as investors in New York paused after a five-week rally ahead of key earnings reports this week from major U.S. banks.

"If the banks' reports come out better than expected, this rally could keep going," said Jorge Obieta, in equity sales at Bulltick Capital Markets in Mexico City.

Shares in top retailer Wal-Mart de Mexico (WALMEXV.MX: Quote, Profile, Research) gained nearly 2 percent to 36.33 pesos while cement maker Cemex (CMXCPO.MX: Quote, Profile, Research) rose 5.63 percent to 10.50 pesos. Cemex's Wall Street-traded stock (CX.N: Quote, Profile, Research) shed 1.35 percent to $8.03, giving up some of a 9 percent jump made last Thursday.

Mexico-City based Invex said in a report that the peso could break below 13 per dollar if U.S. banks report solid first-quarter earnings, but the brokerage cautioned that economic data could undermine recent gains.