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EMERGING MARKETS-Mexico stocks rise as investors look to earnings
2013年7月23日 / 晚上9点16分 / 4 年前

EMERGING MARKETS-Mexico stocks rise as investors look to earnings

* China infrastructure investment vow boosts Brazil
    * Brazil Bovespa up 0.51 pct, Mexico IPC up 1.68 pct

    By Luc Cohen
    MEXICO CITY, July 23 (Reuters) - Mexican stocks surged on
Tuesday, helped by bets the government will push forward with
major economic reforms in the coming months and as investors
piled in ahead of earnings reports due this week.
    Mexico's IPC index rose 1.68 percent to 40,790.16
points to close at its highest level since early June, while
Brazil's Bovespa moved up just over half a percent on
positive economic news from China.  
    * Chinese media reported on Monday that Vice Premier Zhang
Gaoli announced that China will cushion a market slowdown by
strengthening domestic infrastructure investment.
    * China is Brazil's biggest trading partner and a key
purchaser of Latin American commodities exports such as
iron-ore, soy, copper and petroleum.
    * Mining giant Vale rose 1.62 percent, while
Brazilian billionaire Eike Batista's mining business MMX
 gained more than 10 percent, both lifting the index.
    * In Mexico, conglomerate Alfa drove gains,
rising more than 5 percent to a record high. Alfa, which owns
petrochemical company Alpek, may be a big beneficiary from any
eventual energy reform in Mexico, said Luis Rodriguez, head of
analysis at Mexican brokerage Finamex.
    * Shares of copper miner and railroad operator Grupo Mexico
 slipped in early trading after the company
reported a 54 percent drop in second-quarter profit, but closed
up 1.29 percent. 
    * Many of Mexico's biggest companies, including retailer
Walmex, bottler Femsa and telecoms
giant America Movil, report on Thursday. Femsa gained
2.23 percent on Tuesday while Walmex added 1.46 percent. 
    Latin America's key stock indexes at 2051 GMT:
 Stock indexes                            daily %     YTD %
                                Latest     change    change
 MSCI LatAm                    3,259.81      1.45    -14.17
 Brazil Bovespa               48,819.52      0.51    -19.91
 Mexico IPC                   40,790.16      1.68     -6.67
 Chile IPSA                    3,859.95         0    -10.26
 Chile IGPA                   19,136.27     -0.02     -9.18
 Argentina MerVal              3,462.06      0.33     21.29
 Colombia IGBC                13,546.02      1.59     -7.95
 Peru IGRA                    15,622.80      0.63    -24.27
 Venezuela IBC               1,249,789.         0    165.10

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