Mexico's Stocks Rise At Open, As China Comments Boost Markets

By Laurence Iliff | Wall Street Journal | December 21, 2010
MEXICO CITY (Dow Jones)–Mexican stocks rose in early trading Tuesday, boosted by U.S. market gains and the cooling of fears over euro-zone sovereign debt.
The IPC index of the 35 most-traded stocks was 0.5% higher at about 10:45 a.m. EST to 38,163 on volume of 22.5 million shares worth 544.5 million pesos ($44 million).
After a flat start to the week due to a lack of economic news, the IPC tracked U.S. markets higher at open on comments by a Chinese official expressing the Asian giant’s support for European efforts to get a handle on a debt crisis that has kept markets volatile.
Latin America’s largest wireless provider and market bellwether America Movil (AMX, AMX.MX) L shares rose 0.6% to MXN35.29. Mexico’s biggest retailer Wal-Mart de Mexico (WALMEX.MX) was higher by 0.7% at MXN35.54.
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