UPDATE 1-Mexican shares, peso get lift from US data

(Adds closing quotes, comment, updates prices)

MEXICO CITY, Jan 26 (BestGrowthStock) – Mexican shares recovered
from early losses to end up 0.61 percent on Tuesday as a
stronger-than-expected U.S. consumer confidence report helped
counter concerns over China’s move to curb bank lending.

The IPC index (.MXX: ) advanced 186.50 points to close at
30,651.56, breaking a five-day losing streak.

U.S. consumer confidence rose for a third straight month to
its highest level since September 2008, according to the
Conference Board.

The Mexican market “flipped around after what the US market
did on the consumer data,” said Jorge Lagunas, portfolio
manager with Interacciones brokerage.

Earlier in the session, investors sold on China’s central
bank decision to ask some of its banks to boost reserve rations
by half a percentage point, driving the IPC index down by over
0.8 percent.

Cell phone giant America Movil (AMXL.MX: ) accounted for most
of the session’s gains, as its shares jumped 2.24 percent to
close at 28.29 pesos.

Cement maker Cemex (CMXCPO.MX: ) rose 3.81 percent to end at
13.91 pesos just hours before releasing fourth-quarter
results.

The world’s No. 3 cement maker bounced from recent steep
losses despite analysts’ expectations of another quarterly loss
for Cemex, which is seen getting hit by falling demand and an
extraordinary charge linked to an asset sale in the
October-December period.

The peso (MXN=: ) (MEX01: ) firmed 0.13 percent to 12.8340 per
dollar.

In the debt market, Mexico’s benchmark 10-year bond
(MX10YT=RR: ) slipped 2.4 basis points to trade at 7.79 percent

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(Reporting by Lorena Segura and Cyntia Barrera Diaz; Editing
by Kenneth Barry)

UPDATE 1-Mexican shares, peso get lift from US data