Mexico peso, stocks gain as EU talks reassure

* Peso firms 0.25 pct, IPC stock index up 0.75 pct

* EU talks, aid for Greece ease global jitters
(Adds stock, debt movements and comment)

MEXICO CITY, May 18 (BestGrowthStock) – Mexico’s peso strengthened
on Tuesday and stocks rose as euro zone finance ministers
funneled a first dose of bailout aid to Greece, easing global
jitters about Europe’s debt troubles.

The peso (MXN=: )(MEX01: ) firmed 0.25 percent to 12.5585 per
U.S. dollar while the IPC stock index (.MXX: ) rose 0.75 percent
to 31,816.

As European Union ministers met to discuss details of a
massive rescue package for Europe, officials said Greece
received a 14.5 billion euro emergency loan, which more than
covers a bond payment due on Wednesday.

“The talks are calming a bit of the uncertainty. Now we
will see what decisions they take and how investors react,”
said a trader in Mexico City.

The yield on the government’s benchmark 10-year peso bond
(MX10YT=RR: ) bid down 4 basis points to 7.50 percent.

Investors are still waiting to see details of how parts of
a 750 billion euro bailout will be funded and reassurance that
EU countries will be successful in implementing austerity
measures without crippling growth.

Mexico’s peso has whipsawed in volatile trade in recent
weeks as riskier assets like emerging market currencies have
been battered on concerns that Greece’s fiscal instability
could spread to other countries in Europe.

In stock trading, shares in America Movil (AMXL.MX: ) rose
0.62 percent to 31.05 pesos while Grupo Mexico (GMEXICOB.MX: )
added 0.81 percent to 30.05.
(Reporting by Michael O’Boyle and Noe Torres; Editing by
Andrea Ricci)

Mexico peso, stocks gain as EU talks reassure