By Laurence Iliff
MEXICO CITY--Mexican stocks posted solid gains on Wednesday, while the peso lost ground against the U.S. dollar.
The IPC index of the leading 36 stocks rose 0.6% to 43,580 on moderate volume of 200.5 million shares valued at 4.73 billion pesos ($274.6 million).
The dollar was quoted in Mexico City at 17.2425 pesos, according to Infosel, compared with 17.1940 pesos on Tuesday.
In local equities, the shares of newly listed cell-tower operator Telesites were off 2.9% to 11.99 pesos, while the shares of copper miner and railways operator Grupo Mexico rose 4.1% to 38.31 pesos.
In local economic news, inflation slowed to a new low in the first half of December as declines in energy prices partly offset increases in airfares and tourism packages ahead of the year-end holiday season. The consumer-price index rose 0.26% in the first two weeks of the month, pushing the annual inflation rate down to 2.0% from 2.21% at the end of November, the National Statistics Institute said.
Mexico's economic activity index, or IGAE, expanded more than expected in October, led by a strong performance of the services output that offset weak industrial production. Output rose 0.2% from September and was 2.3% higher than October 2014, the institute said.
Write to Laurence Iliff at [email protected]