Mexico's stock index closed a touch higher to hit its third record close in a row on Friday as optimism over upcoming corporate earnings in the country eclipsed weak jobs data out of the United States.
The IPC stock index closed up 0.1 percent at 22,350.05 points, after dropping half a percent in early trade then briefly surging to a new life-time intraday high of 22,525.44.
"The index is breaking resistance levels again. The factors supporting it are the rise in US stocks and expectations of quarterly reports," said Eduardo Diaz, subdirector of Axfel investment consultancy.
Shares in America Movil, Latin America's leading cellphone operator, fell 0.05 percent to 22.20 pesos, and its American Depository Receipts dropped 0.86 percent to $40.16.
Cement giant Cemex shed 0.17 percent to 34.38 pesos, but homebuilder Urbi bounced back from early losses to close up 0.13 percent at 31.30 pesos. Urbi told Reuters on Thursday it expects third-quarter net profits and sales to rise 18 percent from a year earlier.
The main stock index already hit record levels on Wednesday and Thursday on optimism for third-quarter corporate earnings results, which are due in a couple of weeks. The peso shed 0.17 percent to 11.0620 per dollar, bringing its loss for the week to 0.63 percent.
Unexpectedly weak September US employment data prompted worries about an economic slowdown in the United States - something which could hurt Mexico as it could demand for Mexican goods from the country's main trade partner.
But supporting Mexican stocks were upward revisions of US employment data for August and earlier months, which added weight to the view that the United States Federal Reserve will hold interest rates steady for the moment.
Flat US rates tend to result in capital flowing into emerging market countries such as Mexico from safe-haven Treasuries as investors seek better returns.
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