Mexico's Stocks Edge Lower; Peso Firms Ahead of U.S. Data

 
   


By Anthony Harrup 
 

        MEXICO CITY--Mexican stocks ended slightly lower Thursday, while the peso firmed against the dollar in cautious trading ahead of Friday's closely watched U.S. employment report for July.
        The IPC index of leading issues closed down 16 points at 44,921 on volume of 130.7 million shares worth 5.19 billion pesos ($318 million).
        Broadcast and media company Televisa (TV, TLEVISA.MX) shares fell 1.6% to MXN107.00, in line with losses in U.S. media stocks. Wal-Mart de Mexico (WMMVY, WALMEX.MX) shares rose 2.9% to MXN40.80 after the retailer said late Wednesday that its Mexican same-store sales rose 6% in July, above market expectations.
        The peso was quoted closing in Mexico City at MXN16.3190 to the dollar, according to Infosel, compared with MXN16.3690 on Wednesday.
        "Participants abstained from taking significant positions for or against the peso as they wait for the U.S. nonfarm payrolls number on Friday," Banco Base said in a note. A stronger-than-expected result could lead to renewed dollar gains, the bank added.
        In local economic news, the National Statistics Institute reported a drop in consumer confidence in July, which Goldman Sachs said may reflect disappointment with lingering security and political developments, and concerns about the weakening peso.
        "Overall, weak confidence may turn consumers and businesses more defensive and potentially handicap the pace of the ongoing economic recovery," the firm said.
        The Mexican auto industry association, meanwhile, said production last month fell 2% from a year before, the first time this year that output has declined. Output was still at record levels for the January-July period, and domestic new car sales maintained their double-digit growth rate.
        Write to Anthony Harrup at anthony.harrup@wsj.com
        (END) Dow Jones Newswires

        August 06, 2015 16:33 ET (20:33 GMT)

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