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 Business News | December 2007 
Mexico Stocks Drop After US Inflation Data
 Jason Lange - Reuters
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Mexico City - Mexican stocks fell on Friday as stronger-than-expected inflation data in the United States fueled uncertainty about prospects for further interest rate cuts by the U.S. Federal Reserve.
The benchmark IPC stock index .MXX slipped 0.88 percent to 29,824 points.
A report showed consumer prices in the United States rising at their fastest pace in more than two years in November, which some investors took as a sign that the Fed might not cut interest rates as quickly as previously expected.
Lower U.S. rates could help growth in the United States, creating more demand for Mexican exports.
The peso, however, held steady after a government report on Thursday showed a strong rebound in Mexico's industrial output. The currency was marginally weaker, down 0.03 percent at 10.832 per dollar.
(Editing by Kenneth Barry) |
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