Mexican stocks finished flat on Friday amid gains in home developer Urbi and a drop in construction company Cemex, while the peso firmed. After zigzagging between gains and losses during the session, the IPC benchmark stock index ended 0.03 percent lower at 12,615.83 points in generally light trade. The index "is sticking to a band of 50 points," said one trader in Mexico City. "There's no definition." Cement maker Cemex, one of the country's largest industrial companies, slid down 2.77 percent to 82.15 pesos. Urbi, the country's second-largest home builder, rallied 4.65 percent to 55.99 pesos.
Broadcaster TV Azteca, owned by controversial billionaire Ricardo Salinas, rose 1.66 percent to 5.50 pesos, bringing it to price levels similar to Monday before the company announced a plan to list from New York.
Azteca shares slumped almost 9 percent on Tuesday after it said it intends to delist from New York.
TV Azteca has led the market by volume in recent sessions, although mostly through a few very large block trades.
Cellphone operator America Movil, the most heavily weighted stock in the IPC index, picked up 1.48 percent to 28.87 pesos and its New York-traded shares rose 1.19 percent to $52.57.
Many traders took Friday off for a long holiday weekend in Mexico.
The peso, trading at highs not seen since early 2004, gained 0.13 percent to 10.9445 per dollar, helped by a recent rise in interest rates.
On Tuesday, the yield on Mexico's benchmark 28-day Cetes, or T-bills, rose to 9.77 percent as the US Federal Reserve pushed up rates in the United States.
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