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Monday, June 13, 2011

Mexican Shares Up

From the WSJ:

Mexican shares struggled to post gains early Monday as concerns about the global economy weighed down the buying interest.

Around 10:30 a.m. ET, the IPC index of Mexico's leading shares was up 0.2% to 35015 points on volume of 630 million pesos ($53 million).

The peso was also gaining, at MXN11.8590 to the dollar compared with Friday's close of MXN11.9030, which was its lowest level since the end of March. Lately, the peso has been tracking U.S. equities, but were posted tentative gains early today.

In local economic news, Mexico's industrial production rose a modest 1.4% in April from the year-earlier month. Local brokerage Vector said in a note that auto-parts shortages due to the Japanese earthquake and tsunami could continue to curb Mexican manufacturing in the months beyond April.

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