Ternium says will merge Mexico's Hylsamex and IMSA

(Reuters) - "The coming week I will announce the new organizational
structure of both companies working together as a sole entity from
the managerial standpoint in order to be able to get all the
synergies and all the value creation that we expect to get,"
Novegil said.




In 2005, Ternium bought Mexico's No. 2 steelmaker Hylsamex, or
Hylsa as it is now called on the company Web site. In late July,
Ternium completed its purchase of IMSA, another leading
steelmaker, in an operation valued at some $3.2 billion.


Read more at Reuters.com Mergers News

Copper Futures Rise Most in a Week in New York on Strike by Mexico Workers

(Bloomberg) -- Copper futures in New York jumped
the most in more than a week after Southern Copper Corp. workers
went on strike at three mines in Mexico.

Employees began a work stoppage at Cananea, Mexico's
largest copper mine, and the Taxco and San Martin zinc mines, a
union spokeswoman said yesterday. Copper has gained 10 percent
since May 30 as labor unrest hampered production in Latin
American countries.


Read more at Bloomberg Commodities News

Copper Rises in Asia Trade on Mexican Labor Unrest; Zinc, Aluminum Advance

(Bloomberg) -- Copper futures in Asia rose after
workers at Southern Copper Corp., the world's fifth-largest
producer of the metal, began a strike at three of the company's
Mexican mines to demand wage increases.

Employees stopped work at Cananea, Mexico's largest copper
mine, and the Taxco and San Martin zinc mines, National Mining
and Metal Workers Union spokeswoman Carmen Romero said yesterday.


Read more at Bloomberg Commodities News

Mexico's Calderon to adjust tax reform proposal

(Reuters) - The proposal Calderon unveiled in June would raise Mexico's
paltry tax take by about 3 percent of gross domestic product,
largely through a minimum income tax on companies.




Economists have long warned Mexico is heading for financial
disaster unless it increases tax revenues to offset a forecast
drop in crude oil output, which currently funds about one third
of the federal budget.


Read more at Reuters.com Bonds News

UPDATE 1-Mexico economy grew 2.9 pct in May, above forecast

(Reuters) - Economic activity was up 0.35 percent in May from April
according to the monthly IGAE index, which measures the vast
majority of Mexico's economic output.




Analysts in a Reuters poll on average had expected economic
activity to grow 2.15 percent in May.


Read more at Reuters.com Economic News

Datasul, Perdigao, Soriana, Tim, Vitro May Be Active: Latin Equity Preview

(Bloomberg) -- The following stocks may make
significant gains or losses in Brazil and Mexico today. Symbols
are in parentheses after the company name, and stock prices are
from the last session.

In Brazil, preferred shares are the most commonly traded
class of stock.


Read more at Bloomberg Stocks News

Mexico stocks up on robust U.S. consumer sentiment

(Reuters) - The Reuters/University of Michigan Survey of Consumers said
its preliminary July consumer sentiment index came in at 92.4,
well above a median forecast of 86.0 and its highest since
January.




Mexico sends nearly 90 percent of its exports to the United
States, and its economy is tightly linked to the spending
habits of U.S. consumers.


Read more at Reuters.com Bonds News

Mexico Bolsa Gains on Outlook for Tax Legislation; Brazil Stocks Decline

(Bloomberg) -- Mexico's Bolsa index rose for a sixth
day as prospects improved for the passage of a tax measure that
could spur government spending on infrastructure and energy.

The main Bolsa index advanced 93.41, or 0.3 percent, to
32,211.24 as of 3:53 p.m. in New York. Brazil's benchmark Bovespa
index erased a 0.5 percent rally on concern inflation will
prevent the central bank from cutting interest rates.


Read more at Bloomberg Stocks News

Mexico's Bonds, Currency Advance After S&P Lifts Country's Debt Outlook

(Bloomberg) -- Mexico's bonds and the peso rose
after Standard & Poor's this week raised the country's credit
rating outlook, citing prospects legislators will approve a bill
to boost the country's tax collection.

The yield on the 30-year maturity denominated in pesos fell
for a third day as S&P lifted the outlook to positive from
stable. President Felipe Calderon's success in getting the
opposition-controlled congress to pass a bill in March to cut
government spending on pensions raised expectations he'll garner
support for the tax proposal, S&P said.


Read more at Bloomberg Currencies News

Mexico's Bolsa Gains on Debt Rating Outlook, Led by America Movil and ICA

(Bloomberg) -- Mexico's Bolsa index rose for a fifth
day as investors bet the country's credit rating will lbe raised by
Standard & Poor's, reducing government borrowing costs and fueling
spending.

The benchmark Bolsa index advanced 234.41, or 0.8 percent, to
31,655.10 as of 10:56 a.m. in New York, led by America Movil SAB,
Latin America's biggest mobile-phone company.


Read more at Bloomberg Stocks News

Mexico's Credit Rating Outlook Raised to Positive by Standard & Poor's

(Bloomberg) -- Mexico's credit rating outlook was
raised to positive from stable by Standard & Poor's, fueling a
surge in the currency and government bonds.

S&P, which rates Mexican foreign debt BBB, the second-lowest
investment-grade rating, said the change in outlook was driven by
country's efforts to reduce its foreign debt and by expectations
congress will approve legislation to bolster tax collection. S&P
rates Mexico's local debt A, the sixth-highest rating.


Read more at Bloomberg Emerging Markets News

Mexico May Be Closing in on Credit Rating Increase, S&P's Mukherji Says

(Bloomberg) -- Mexico's chances of a credit rating
increase are improving as President Felipe Calderon moves toward
garnering congressional approval for legislation that would boost
tax collection, said Joydeep Mukherji, a sovereign ratings
director at Standard and Poor's.

The government last week sent legislators a proposal to
boost annual tax revenue by the equivalent of 3 percent of gross
domestic product in an effort to ease Mexico's dependence on oil
export income and keep the budget deficit in check.


Read more at Bloomberg Emerging Markets News

UPDATE 1-Mexico economic activity grew 3.2 pct in April

(Reuters) - Economic activity was up 0.76 percent in April from March,
according to the monthly IGAE index, which measures the vast
majority of Mexico's economic output.




The Mexican economy grew 4.8 percent in 2006 but is
expected to lose steam this year as the United States, the
country's main trade partner, enters a slowdown.


Read more at Reuters.com Economic News

Bancolombia, MMX Mineracao, Tam, Telmex: Latin American Equity Preview

(Bloomberg) -- The following stocks may make
significant gains or losses in Brazil, Colombia and Mexico
today. Symbols are in parentheses after the company name, and
stock prices are from the last session.

In Brazil, preferred shares are the most commonly traded
class of stock.


Read more at Bloomberg Stocks News

Mexican stocks down on U.S. mortage market fears

(Reuters) - Global equities have also come under pressure in recent
days as trouble in the U.S. subprime mortgage industry, has
spread to two hedge funds managed by Bear Stearns with
heavy exposure in the sector. Subprime mortgages cater to
borrowers with troubled credit histories.




Investors worry that problems in the sector could spread to
the rest of the U.S. economy. That would be bad for Mexico's
economy, which sends almost 90 percent of its exports to its
northern neighbor.


Read more at Reuters.com Bonds News

Grupo Aeroportuario, Coca-Cola Femsa, Grupo Mexico: Mexican Equity Movers

(Bloomberg) -- Mexico's main stock index rose for the
fifth time in six days, recovering most of its 0.5 percent loss
yesterday.

The Bolsa index advanced 124.75, or 0.4 percent, to 32,189.74
at 10:31 a.m. New York time.


Read more at Bloomberg Stocks News

Mexico Bolsa Falls on U.S. Housing Slump, Led by Cemex; Bancolombia Rises

(Bloomberg) -- Mexico's main stock index fell for the
first time in five days, led by Cemex SAB, on concern that the
slump in the U.S. housing market will hurt demand for building
materials.

The benchmark Bolsa index slid 157.62, or 0.5 percent, to
32,060.55 as of 12:36 a.m. in New York. Cemex, North America's
largest cement producer, accounted for more than half of the
decline and fell the most since Feb. 27.


Read more at Bloomberg Emerging Markets News

Cemex, Gerdau, Perdigao, Sadia, IXE Grupo Financiero: Latin Equity Preview

(Bloomberg) -- The following stocks may make
significant gains or losses in Brazil and Mexico today. Symbols
are in parentheses after the company name, and stock prices are
from the last session.

In Brazil, preferred shares are the most commonly traded
class of stock.


Read more at Bloomberg Stocks News

Indian Explorers Lose Oil Rigs as Mexico, U.K. Step Up Offshore Drilling

(Bloomberg) -- Indian oil explorers led by Oil &
Natural Gas Corp. are losing rigs to rivals in countries such as
Mexico and U.K. as higher prices spur drilling, a report by
service provider Baker Hughes Inc. shows.

The number of rigs used in India slipped to 81 in May from
86 in January, Baker Hughes said in a monthly report on its Web
site June 15. At the same time, the worldwide total excluding
the U.S., Canada, Sudan and Iran, increased to 1,007 from 972.


Read more at Bloomberg Emerging Markets News

Delphi to sell Mexican brake plant to Bosch

(Reuters) - The proposed sale to Robert Bosch and its Frenados Mexicanos affiliate includes a plant in Saltillo, Mexico, machinery and equipment, and the assignment and assumption of certain contracts, Delphi said.



Delphi, which filed for bankruptcy in October 2005 and plans to sell several business units, said it would seek a U.S. Bankruptcy Court hearing on June 26 on bidding procedures for the plant, and a final sale hearing on July 19.


Read more at Reuters.com Bonds News