Mexican Peso, Bonds Drop After U.S. Jobs Growth Slows, Missing Forecast

(Bloomberg) -- Mexican peso-denominated bonds and
the currency fell on renewed concerns that weakness in the U.S.
housing industry will spread to the broader economy and curb
demand for Mexico's exports.

Yields on the Mexican government's 30-year bonds, its
longest peso-denominated maturity, touched a three-month high
after a U.S. government report showed employers added fewer jobs
than economists expected last month. The U.S. buys 80 percent of
Mexican exports.


Read more at Bloomberg Currencies News

Brazil, Mexico Shares Fall as Subprime, Housing Fears Revive; Peru Rises

(Bloomberg) -- Stocks in Brazil and Mexico erased
rallies and fell after investors sold riskier assets on renewed
concern that losses on U.S. mortgages will curb earnings growth.

Mexico's Bolsa index declined 241.02, or 0.8 percent, to
30659.66, dragged down by America Movil SAB, Latin America's
largest mobile-phone company. Brazil's Bovespa slipped for the
third time in four days, led by state-controlled oil company
Petroleo Brasileiro SA.


Read more at Bloomberg Stocks News

Brasil Telecom, BR Malls, Grupo Mexico and Andina: Latin Equity Preview

(Bloomberg) -- The following stocks may make
significant gains or losses in Brazil, Chile and Mexico
today. Symbols are in parentheses after the company name, and
stock prices are from the last session.

In Brazil, preferred shares are the most commonly traded
class of stock.


Read more at Bloomberg Stocks News

Southern Copper's Workers at Mexico's Largest Copper Mine Begin Strike

(Bloomberg) -- Workers at Southern Copper Corp.,
the world's fifth-largest producer of the metal, began a strike
at three of the company's Mexican mines to demand wage
increases, a union official said.

Employees began a work stoppage at Cananea, Mexico's
largest copper mine, and the Taxco and San Martin zinc
mines, said Carmen Romero, spokeswoman for the National
Mining and Metal Workers Union.


Read more at Bloomberg Commodities News

UPDATE 1-Grupo Mexico 2nd-qtr net profit up 48.6 pct

(Reuters) - Earnings before interest, tax, depreciation and
amortization rose 54 percent to $1.234 billion.




Grupo Mexico also said that its board
approved a dividend of 1 peso per share which will be paid in
one exhibit starting September 3.


Read more at Reuters.com Market News

Mexico's Televisa says gaming tax too high

(Reuters) - Mexico's president, Felipe Calderon, last month presented a
long-awaited fiscal reform plan, part of which would close off
corporate tax loopholes.




The government wants to slap a 20 percent tax on gaming as
part of the bill, which is expected to get the go-ahead before
Congress starts discussing next year's budget in September.


Read more at Reuters.com Government Filings News

Gol, Petrobras, Tam, Televisa, TV Azteca: Latin American Equity Preview

(Bloomberg) -- The following stocks may make
significant gains or losses in Brazil and Mexico today. Symbols
are in parentheses after the company name, and stock prices are
from the last session.

In Brazil, preferred shares are the most commonly traded
class of stock.


Read more at Bloomberg Stocks News

Mexico's Peso Gains Most in More Than a Week on Interest-Rate, CPI Outlook

(Bloomberg) -- Mexico's peso gained the most in
more than a week on expectations the central bank this week
will keep its benchmark interest rate unchanged at its highest
since March 2006.

Policy makers will leave the overnight lending rate at 7.25
percent at their July 27 policy meeting, 13 of 15 economists
surveyed by Bloomberg predicted. Two expected policy makers to
raise the rate to 7.5 percent. A report tomorrow may show
consumer prices rose to the highest since January in the first
half of this month, a separate Bloomberg economists' survey
showed.


Read more at Bloomberg Currencies News

Mexican Peso Declines After China Raises Interest Rates to Cool Expansion

(Bloomberg) -- Mexico's peso fell after China raised
interest rates, sparking speculation that demand for commodities
including oil, Mexico's biggest export, will fall.

Revenue from oil exports is Mexico's biggest source of
dollar inflows and funds almost 40 percent of government
spending. Oil for September delivery fell 0.1 percent to $76.01 a
barrel at 10:51 a.m. in New York.


Read more at Bloomberg Currencies News

Brazil's Bovespa Gains on Rates, Led by Petrobras; Mexico's ICA Advances

(Bloomberg) -- Brazil's main stock index had its
biggest gain in a week after the central bank cut borrowing costs,
bolstering confidence in company profits.

The Bovespa Index of the most-traded stocks on the Sao Paulo
exchange rose 601.36, or 1 percent, to a record 58,157.21. State-
controlled oil company Petroleo Brasileiro SA led the gains.
Mexico's Bolsa index also gained.


Read more at Bloomberg Stocks News

Bank of America Earnings Trail as Citigroup, JPMorgan, Merrill Go Abroad

(Bloomberg) -- Bank of America Corp. does more
business in the U.S. than any of its competitors, and that's
eroding returns for shareholders of the Charlotte, North
Carolina-based company.

Demand for financial services is increasing three times as
fast outside the U.S., fueled by companies and investors in
Brazil, China, India and Russia. While Bank of America operates
in 45 countries, they produce only 13 percent of its revenue.
That's puny compared with Citigroup Inc., which derives almost
half its sales from abroad and ranks among the biggest banks in
Mexico, Poland and South Korea.


Read more at Bloomberg Currencies News

Eletropaulo, Marcopolo, Sonda, Telmex, America Movil: Latin Equity Preview

(Bloomberg) -- The following stocks may make
significant gains or losses in Brazil, Chile and Mexico
today. Symbols are in parentheses after the company name, and
stock prices are from the last session.

In Brazil, preferred shares are the most commonly traded
class of stock.


Read more at Bloomberg Stocks News

Tidewater CEO touts performance, overseas work

(Reuters) - "Analysts are smart people. We think they're doing a good
job, and we just hope that we're doing an equally good job," he
told Reuters before the meeting in New Orleans, where the
company is headquartered.




Asked about previous disclosures Tidewater is moving
vessels out of the Gulf of Mexico into international
operations, Taylor would not elaborate. "We think business
overseas will be better," he said.


Read more at Reuters.com Market News

Mexico May Sell More Debt Exchange Warrants, Public Credit Director Says

(Bloomberg) -- Mexico may keep selling securities
that have helped it ``aggressively'' cut its foreign debt to a
record low, said Gerardo Rodriguez, head of public credit at the
Finance Ministry.

Mexico this year issued warrants -- its third such sale
since 2005 -- that give investors the option to swap bonds
denominated in dollars and European currencies in exchange for
peso securities, part of a push to lure investment to the local
market and reduce the government's vulnerability to declines in
the currency.


Read more at Bloomberg Emerging Markets News

Mexican Pipeline Blast Prompts Shutdowns at Nissan, Vitro, Kellogg Plants

(Bloomberg) -- More than 100 companies in Mexico
including automaker Nissan Motor Co. and cereal maker Kellogg
Co. reduced or suspended production after a pipeline explosion
yesterday interrupted natural gas supplies.

The blast in the central state of Queretaro damaged a 36-
inch pipeline operated by state-owned oil monopoly Petroleos
Mexicanos, cutting supplies to the cities of Guadalajara,
Queretaro, Aguascalientes and Leon. A guerilla group that calls
itself the Popular Revolutionary Army claimed responsibility.


Read more at Bloomberg Emerging Markets News

UPDATE 1-Mexico's Calderon sees oil exports falling further

(Reuters) - "Starting in 2006, the volume of our oil exports has been
falling at an alarming rate and from what we have observed up
until now, this year and the next will be no exception,"
Calderon told a banking event.




Mexico's oil exports slipped 1.3 percent in 2006 to an
average of 1.793 million barrels per day as state oil
monopoly Pemex grappled with lower output at its huge but aging
Cantarell oil field.


Read more at Reuters.com Bonds News

Mexico's Peso, Local Currency Bonds Gain as Demand for Risk Increases

(Bloomberg) -- Mexico's peso and local-currency
bonds rose, reversing earlier declines, after gains in U.S.
stocks showed investor demand for riskier assets is recovering.

Mexico's 20-year bond rose for the first time in six days
after a rally in oil raised the earnings prospects for energy
companies in the U.S. The Dow Jones Industrial Average and the
Standard & Poor's 500 stock indexes rose. Oil, Mexico's biggest
export and a source of almost 40 percent of government revenue,
increased 1.8 percent to $68.96 a barrel.


Read more at Bloomberg Currencies News

May oil output slips at Mexico's Cantarell field

(Reuters) - The figure meant Cantarell accounted for just 51 percent of
Mexico's overall crude oil output last month.




Over the past year, production has dropped at the field
that once produced around 60 percent of state oil monopoly
Pemex's oil output.


Read more at Reuters.com Bonds News

Mexico's Bolsa Has Weekly Decline on Tax Proposal; Cemex, Televisa Slide

(Bloomberg) -- Mexico's main stock index fell for the
second week in three, led by Cemex SAB, on concern President Felipe
Calderon's proposed tax bill will reduce company profits.

The benchmark Bolsa index slid 0.6 percent today to 31,642.26,
for a weekly loss of 1.5 percent. Cemex, North America's largest
cement producer, was also hurt by concern that the U.S. housing
slump will hurt its earnings.


Read more at Bloomberg Stocks News

UPDATE 3-Mexico holds rates steady, talks tough on inflation

(Reuters) - MEXICO CITY, June 22 - Mexico's central bank held
interest rates steady on Friday, but sharpened its tone on
inflation by warning risks had increased, which raised the
possibility of a fresh hike as early as next month.




The Banco de Mexico, known as Banxico, held its key
overnight interest rate steady at 7.25 percent as expected, but
said inflation risks were heightened last month and monetary
policy maintained a restrictive bias.


Read more at Reuters.com Economic News