By Laurence Iliff
MEXICO CITY--Mexican stocks rose Monday on the strength of heavyweights such as telecom America Movil, while the peso lost ground against the U.S. dollar as oil prices fell.
The IPC index of the leading 35 stocks rose 0.5% to 43,161 points on regular volume of 301.7 million shares valued at 6.28 billion pesos ($365.4 million).
The dollar was quoted in Mexico City at 17.1745 pesos, according to Infosel, compared with 17.1315 on Friday.
In local equities, the shares of Latin America's biggest wireless provider and IPC heavyweight America Movil gained 5.4% to 12.70 pesos following its spinoff of mobile-towers company Telesites SAB. Shares of Telesites rose 0.2% to 13.02 pesos in their first day of trading.
Other heavyweights posting gains were Coca-Cola bottler and convenience-store operator Femsa, whose shares added 1.5% to 161.74 pesos; and retailer Wal-Mart de Mexico, whose shares were up 1.4% to 44.13 pesos.
In local data, retail sales rose 0.3% in October from a month earlier after September's decline. On-year, October's growth was 4.8%--a bit less than the prior four months.
Write to Laurence Iliff at [email protected]