Markets & Data
Unemployment rate rises in April from year ago
Dow Jones - Unemployment in Mexico rose in April from the year-earlier month and from March, following sluggish growth in the first quarter. The jobless rate among Mexico's 50-million workforce was 5 percent last month, compared with 4.9 percent in April 2012.
Current account deficit narrows in first quarter
Reuters - Mexico's current account deficit notched $5.53 billion in the first quarter, the central bank said on Friday, narrowing from the fourth quarter of last year. The current account deficit was the equivalent of 1.8 percent of gross domestic product.
www.reuters.com/article/2013/05/24/mexico-economy-current-account-idUSE1N0BP01V20130524
Stocks recover after three-day rout
Reuters - Mexican stocks rebounded on Thursday after a three-day thumping as concerns the U.S. Federal Reserve might scale back stimulus measures had pounded the IPC index. Stocks rose 0.96 percent to 40,505.27 points.
www.reuters.com/article/2013/05/23/markets-latam-stocks-idUSL2N0E428T20130523
Pemex delays prompt lower outlook for suppliers
Market Watch - Pemex has delayed significant exploration and development in its northern Mexico’s oil and gas fields, said analsts at Barclays, a move likely to hit oilfield services companies Halliburton and Schlumberger.
Peso falls amid concern Fed will taper stimulus
Bloomberg - Mexico’s peso fell for a third day on growing concern the Federal Reserve will taper a stimulus program that has boosted demand for emerging-market assets. The currency fell to 12.4917 per U.S. dollar, paring its rally this year to 2.9 percent.
ICA debt, shares slumping on delay of reforms
Bloomberg - Empresas ICA fell the most since September 2011 and bond yields rose as Deutsche Bank cut its recommendation on Mexico’s largest construction company after debt downgrades by Standard & Poor’s and Moody’s Investors Service.
www.bloomberg.com/news/2013-05-22/ica-debt-shares-slumping-on-pena-nieto-mexico-boom-delay.html
Inflation rises more than expected in early May
Reuters - Mexico's annual inflation rate rose more than expected in early May, holding well above the central bank's limit and hemming in policymakers' ability to lower interest rates in the coming months.
www.reuters.com/article/2013/05/23/mexico-economy-idUSL3N0E437H20130523
Stocks down 1%, briefly touch 8-month low
Reuters - Mexico's stock index briefly sank to an eight-month low beneath the key 40,000-point level for the first time since September 2012. The index dipped after the U.S. Federal Reserve Chairman warned of holding interest rates too low for too long.
www.reuters.com/article/2013/05/22/markets-mexico-stocks-idUSL2N0E320L20130522
Stocks dip to nearly eight-month low
Reuters - Mexico's benchmark stock index sold off for a second consecutive session on Tuesday, on track to close at its worst level in nearly eight months. Investors unloaded Mexican shares following weaker-than-expected growth data last week.
www.reuters.com/article/2013/05/21/markets-latam-stocks-idUSL2N0E210D20130521
Simec continues to buy back its shares
Sentido Comun - Grupo Simecannounced that it has repurchased 50,000 shares with buyback fund, endowed with 1,000 million pesos. Excluding this transaction, the company has repurchased 994,644 shares in the month of May, to reach a total 1,044,644.
