MEXICO CITY: Mexican stocks rose on Wednesday, bolstered by strong automobile sales in the United States, Mexico's top trading partner, while an improving outlook among European businesses lifted Brazilian shares.
Shares of Mexican conglomerate and auto parts maker Alfa jumped 4.35 percent after data showed US auto sales rose at their fastest pace in nearly six years.
The gains helped boost Mexico's IPC index by 0.59 percent. Mexico sends nearly 80 percent of its exports to its northern neighbor.
Meanwhile, shares of mining firm Grupo Mexico rose 1.05 percent even after the company lowered its estimate for copper production this year by 3.5 percent from previous forecasts.
Markit's final Composite Eurozone Purchasing Managers' Index (PMI), a monthly survey of thousands of companies, showed the euro zone economy appears to be on track to crawl out of recession in the second half of the year.
The European data helped stocks in Brazil, which has more trade links to the euro zone and less to the United States.
Brazil's benchmark Bovespa stock index added 0.18 percent as state-run oil firm Petroleo Brasileiro SA, known as Petrobras, jumped 1.64 percent.
Chile's IPSA index rose for the fourth session in five, led by a 1.65 percent gain in Banco Santander.
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