http://www.mexbiznews.com/mexico-consumer-prices-fall-most-two-years Bloomberg Mexico’s consumer prices fell the most in two years in May on reductions in costs for electricity, tourist packages and produce. Front Page Economy & Finance Wed, 10 Jun 2009 20:29:26 +0000 mexbiznews 6968 at http://www.mexbiznews.com http://www.mexbiznews.com/stocks-peso-close-stronger-after-volatile-session Mexico's stocks closed mostly higher Wednesday after an up-and-down session thanks to a partial recovery in U.S. equities, while a late drop in U.S. Treasury yields helped give the peso a bounce. The local stock market's IPC index of 35 most-traded issues closed up 0.3%, or 76.29 points, at 25,183.72. Volume was a robust 264.4 million shares traded at a total value of 5.95 billion pesos ($438.1 million). Trading was volatile, but a late surge in the Dow Jones Industrial Average from its intraday lows pushed the local market into the black shortly before the closing bell. Hector Jimenez, a technical analyst at Scotiabank in Mexico City, said the IPC has a resistance level around 25,190 points, adding that he expects it to track U.S. stocks in coming days and possibly dip as low as 24,600 if investors decide to take profits. Wednesday was the fifth consecutive session of gains in the local market. Wireless operator America Movil (AMX) L shares rose 0.6% to MXN25.23, cement maker Cemex (CX) CPO shares soared 3.9% to MXN14.50, copper miner Grupo Mexico (GMEXICO.MX) B shares rose 2.9% to MXN15.74, and retailer Wal-Mart de Mexico (WMMVY) V shares ended 0.8% higher at MXN39.40. Mexico's peso, meanwhile, rode an afternoon rally to close modestly stronger versus the dollar at MXN13.5825, compared with MXN13.6880 around the open and MXN13.6075 at Tuesday's close. A local currency trader said a pullback in U.S. Treasury yields following the release of the U.S. Federal Reserve's Beige Book "gave the peso a breath," adding that if U.S. interest rates remain stable, the peso might also calm down in the medium term. He said the peso's depreciation in recent weeks resulted in part from growing concerns about Mexico's fiscal balance, which have led Fitch Ratings and Standard & Poor's to move Mexico's credit rating outlook to negative from stable. Prices sank lower in the secondary market for local government debt, pushing the yield on 10-year bonds due 2017 up nine basis points to 8.22%, while the yield on 20-year bonds due 2024 rose 11 basis points to 8.50%. Front Page Economy & Finance Wed, 10 Jun 2009 22:14:10 +0000 mexbiznews 7053 at http://www.mexbiznews.com http://www.mexbiznews.com/sct-spending-hits-highest-level-ever El Economista Spending by the Secretariat of Communications and Transport spending has reached the highest level ever, increasing 110 percent in the first quarter of 2009 over last year. Front Page Economy & Finance Thu, 11 Jun 2009 13:53:21 +0000 mexbiznews 7371 at http://www.mexbiznews.com http://www.mexbiznews.com/opposing-groups-miners-clash-fresnillo Sentido Comun Opposing groups of miners clashed at Fresnillo, Zacatecas, over differences over the leadership of the union Sindicato Nacional de Trabajadores Mineros, Metalúrgicos, Siderúrgicos y Similares. Front Page Mining Thu, 11 Jun 2009 14:01:56 +0000 mexbiznews 7383 at http://www.mexbiznews.com http://www.mexbiznews.com/banamex-predicts-economy-will-shrink-87-percent El Economista Grupo Financiero Banamex said it is likely that the economic contraction in  May is higher than expected and could result in a shrinkage for the year of 8.7 percent. Front Page Economy & Finance Fri, 12 Jun 2009 14:34:20 +0000 mexbiznews 8082 at http://www.mexbiznews.com http://www.mexbiznews.com/gm-will-start-producing-cadillac-srx-ramos-arizpe Vanguardia General Motors, as part of its restructuring will start the production of new Cadillac SRX in Ramos Arizpe, Coahila, mainly for the U.S. market and will “relabel” as Buick, Saturn Vue vans, which are already being produced there.       Automotive & Transportation Front Page Companies Mon, 15 Jun 2009 15:24:56 +0000 mexbiznews 9260 at http://www.mexbiznews.com http://www.mexbiznews.com/morgan-stanley-cites-little-reason-own-cemex Bloomberg Morgan Stanley said there is “little reason” to own shares of Cemex because cement demand may remain weak until 2011, valuations are “uninteresting” and debt refinancing is still a risk. Front Page Companies Markets & Data Mon, 15 Jun 2009 15:34:24 +0000 mexbiznews 9261 at http://www.mexbiznews.com http://www.mexbiznews.com/aviacsa-fleet-has-resumed-flights-under-court-order Associated Press Mexico's Aviacsa airline resumed service Friday after winning a court ruling overturning a government order grounding its planes for the second time over safety concerns.The airline has a fleet of 26 planes serving 17 Mexican cities and Las Vegas. Automotive & Transportation Front Page Companies Mon, 15 Jun 2009 15:41:51 +0000 mexbiznews 9262 at http://www.mexbiznews.com http://www.mexbiznews.com/us-mexico-agree-improve-travel-trade-across-border Associated Press The U.S. and Mexico have agreed to work together to secure legal travel and trade across the countries' shared border.The agreement is outlined in a letter of intent signed Monday by U.S. Homeland Security Secretary Janet Napolitano and Mexico's Finance Minister Agustin Carstens Front Page Mon, 15 Jun 2009 15:51:58 +0000 mexbiznews 9264 at http://www.mexbiznews.com http://www.mexbiznews.com/ceesp-reports-little-or-no-information-recovery-job-programs El Economista The Center for Private Sector Economic Studies (CEESP) found that there is little or no information on the progress of programs that have been announced to tackle the current global crisis. Front Page Economy & Finance Mon, 15 Jun 2009 16:04:28 +0000 mexbiznews 9272 at http://www.mexbiznews.com