May 30, 2013 / 10:08 PM / 5 years ago

EMERGING MARKETS-Mexican stocks up on weak U.S. data

MEXICO CITY, May 30 (Reuters) - Mexican stocks rose on
Thursday after tepid U.S. economic data eased concerns that the
Federal Reserve would begin scaling back its monetary stimulus
that has fueled demand for emerging market assets. 
    Brazil's markets were closed for Corpus Christi day, while
Chile's IPSA traded flat at 4,138.25 points. 
    Latin American stocks have fluctuated recently on concerns
that the Fed might wind down its massive asset-buying program on
the back of an improving U.S. economy. 
    But data released on Thursday showed first-time claims for
unemployment benefits unexpectedly rose in the latest week while
the U.S. government's latest reading on first-quarter gross
domestic product came in slightly below forecasts.
 
     That boosted Mexico's IPC index, which rose 0.85
percent to 40,984.50 points. The index has lured investors
seeking higher returns in riskier assets.
    * Telecoms giant America Movil, owned by
billionaire tycoon Carlos Slim, rose 1.59 percent, driving
gains.
    * In Chile, electricity producer Enersis rose 1.47
percent, lifting the index. 
    
    Latin America's key stock indexes at 2142 GMT:
    
 Stock indexes                           daily %  year-to-da
                      Latest              change        te %
                                                      change
 MSCI LatAm                 3,539.98       -0.43       -6.79
                                                  
 Brazil Bovespa            54,634.69        -2.5      -10.36
                                                  
 Mexico IPC                40,984.50        0.85       -6.23
                                                  
 Chile IPSA                 4,138.25        0.09       -3.79
                                                  
 Chile IGPA                20,456.69        0.12       -2.91
                                                  
 Argentina MerVal           3,514.60        1.16       23.13
                                                  
 Colombia IGBC             13,544.27        0.29        6.94
                                                  
 Peru IGRA                 16,097.54       -0.08      -21.97
                                                  
 Venezuela IBC            810,239.69        0.09       71.87

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below