Mexican stocks decline

Mexican stocks dropped 2 percent on Friday under pressure from losses in mobile phone operator America Movil and weakness on Wall Street.
The benchmark IPC stock index lost 200.77 points, or 1.99 percent, to end at 9,866.13 points.
The Mexican stock market "was very much in line with the US market," said Jose Gomez, an analyst at Value brokerage in Mexico City. "The US employment data and the high price of oil are what hurt markets."
A US government report early on Friday showed weaker-than-expected July payroll figures, hurting stocks in the United States and Mexico.
The Dow Jones industrial average ended 1.48 percent weaker.
Lower payroll numbers mean the economy in the United States, where Mexico sends 90 percent of its exports, could be growing more slowly than expected.
The price of oil hit a record high on Friday for the sixth straight session, threatening to put a damper on world economic growth and contributing to the decline of stock markets.
In local stock trading, America Movil, the largest component of the IPC index, fell 2.35 percent to 19.09 pesos and its American Depositary Receipt lost 2.31 percent to $33.45.
The telecom's stock has fallen almost 6 percent since Tuesday, largely because of speculation the company could be shopping for a new acquisition in Argentina. America Movil has not confirmed or denied such market talk.
Many analysts caution that the firm should be concentrating on developing recent acquisitions, rather than buying new companies.
"It has dropped hard," said a trader in Mexico City. "That rumour is the only thing it could be."
Cement company Cemex, which accounts for about 10 percent of the IPC index, also fell, ending 3.47 percent lower at 63.13 pesos. Its New York-traded shares fell 3.29 percent to $27.61.
The sell-off in Mexican stocks was broad, with 45 ending lower and only three gaining. Eight remained flat.
Live entertainment company CIE, which on Thursday said it reached a deal to bring NASCAR racing to Mexico next year, fell 4.52 percent to end at 21.14 pesos.
CIE said last week its second quarter net profit fell 17 percent because of restructuring charges in its advertising unit.
The peso gained after the jobs data, finishing 0.17 percent stronger at 11.4070 per dollar as investors interpreted the jobs data as lessening the need for a big US interest rate hike.