Mexican Stocks, Peso Gain on U.S. Data After Local Holiday

 
   By Amy Guthrie 
 

        MEXICO CITY--Mexican shares were higher and the peso was stronger against the U.S. dollar Friday, following a local holiday.
        The IPC index of Mexico's most-traded shares was recently 0.5% higher at 40,899 points, while the peso was trading at MXN12.9980 to the U.S. dollar versus MXN13.0890 at the close Wednesday.
        Among blue chips, wireless carrier America Movil was advancing 1.1% to MXN13.30, and cement maker Cemex was gaining 0.6% to MXN16.83.
        Mexican markets reopened after the local Labor Day holiday to stronger-than-expected economic data out of the U.S.
        The U.S. added 288,000 jobs in April, the Commerce Department reported, the fastest pace in more than two years and well above economists' median forecast of 215,000. April's unemployment rate fell to 6.3% from 6.7% a month earlier, but the numbers also showed that many people were dropping out of the work force, a concern for the Fed.
        Mexican companies reported uninspiring first-quarter earnings amid weak consumer spending. However, many company executives expressed optimism that business will pick up in the second half of the year.
        Write to Amy Guthrie at Amy.guthrie@wsj.com
        (END) Dow Jones Newswires

        May 02, 2014 10:16 ET (14:16 GMT)