Mexican stocks rose slightly in thin trade on Friday, helped by gains in top cell phone operator American Movil and cement giant Cemex. Mexico's benchmark IPC stock index rose 0.78 percent to 22,515.34 points. The peso currency see-sawed in early trade, and was 0.93 percent weaker at 13.4250 per dollar.
The Christmas season kept trading light and volatile in both currency and stock markets. Many traders took the day off. Stocks initially rose after a General Motors finance affiliate won authorisation to become a bank holding company, providing a boost for the US automaker, which has operations in Mexico.
Top-weighted America Movil gained 0.56 percent to 21.37 pesos. Cemex, the world's third-biggest cement maker, rose 1.36 percent to close at 11.93 pesos per share, while its New York-traded stock rose 1.82 percent to $8.96. Wal-Mart de Mexico (Walmex), Mexico's largest retailer, dropped 0.48 percent to 37.10 pesos. In debt trading, the yield on the benchmark 10-year government peso bond was flat at 7.99 percent.