Aug 11, 2009
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Mexico peso, stocks fall on weak US wholesale data

Aug 11, 2009

MEXICO CITY, Aug 11 (Reuters) - Mexico's peso slipped by the most in four weeks on Tuesday 11 August and stocks fell after data showed that inventories at U.S. wholesalers fell for the 10th straight month in June, curbing hopes for a recovery in Mexican exports.

The peso MXN=MEX01 lost 0.51 percent to 13.0015 per U.S. dollar, its biggest one-day slide since July 10.

The 1.7 percent drop in U.S. inventories from May was nearly double the 0.9 percent decline analysts polled by Reuters had expected.

On Monday 10 August, the peso firmed to its highest since May on hopes of an economic recovery in the United States, Mexico's top trading partner.

The IPC stock index .MXX lost 1.22 percent to 27,960, hurt by a drop in Wal-Mart de Mexico (WALMEXV.MX) to 47.20 pesos.

Cemex (CMXCPO.MX) jumped to 14.47 pesos after saying it was close to reaching a deal with all its creditors to refinance looming debt payments.

(Reporting by Michael O'Boyle; Editing by Theodore d'Afflisio)

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