Mexican stocks ended at an all-time high for a fourth straight session on Friday, benefiting from expectations the economy will improve in 2004.
The IPC benchmark stock index ended 0.26 percent higher at 8818.19 points after spending most of the day flat.
"People are thinking that this year will be better from the economic point of view," said Jesus Viveros, an analyst at Bursametrica consulting company.
Mexico's peso strengthened 1.39 percent to 11.0780 per dollar, boosted by a strong US macroeconomic report.
The US Institute for Supply Management's manufacturing report for December showed a reading of 66.2, easily overshooting economists' consensus expectations for 61.0.
A stronger peso increases the value of Mexican companies' dollar-denominated American Depositary Receipts (ADR).
The ADR of America Movil, Latin America's largest wireless telecommunications company, rallied 3.58 percent to $28.32, while its Mexico-traded shares added 1.68 percent to 15.72 pesos.
Televisa, the world's largest Spanish-language broadcaster, saw its stock fall 0.85 percent to 22.22 pesos, although its ADR gained 0.55 percent to $40.08.
Construction company ICA's shares shot up 7.31 percent to 2.79 pesos, and its ADR rallied 7.04 percent to $1.52.
Mexican stock investors will likely remain bullish over the medium term, although they could take some profits in the short term following recent gains, Viveros said.
Stock investors have become more bullish over recent days, after legislators gave up on efforts to approve a long called-for tax reform package. The end of the reform debate removes uncertainty about the economy's future, traders say.
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