UPDATE 1-Hercules Offshore Q2 earnings rise

(Reuters) - The recent decline in the outlook for U.S. natural-gas
prices could delay the expected recovery in jackup rig demand
in the U.S. Gulf of Mexico, the company said in a statement.




Houston-based Hercules reported a second-quarter net income
of $23.5 million, or 72 cents a share, compared with $22.9
million, or 71 cents a share, a year ago.


Read more at Reuters.com Market News

Mexican Bonds, Peso Drop After U.S. Jobs Growth Slows, Missing Forecast

(Bloomberg) -- Mexican peso-denominated bonds fell
on renewed concerns that weakness in the U.S. housing sector
will spread to the broader economy and crimp demand for Mexico's
exports.

Yields on the government's 30-year bond, its longest peso-
denominated maturity, touched a one-week high after a U.S.
government report said employers added fewer jobs than
economists expected last month. The U.S. buys 80 percent of
Mexican exports.


Read more at Bloomberg Currencies News

Mexico Bolsa Rises Most in Month on Analyst Upgrades: Latin America Stocks

(Bloomberg) -- Mexico's Bolsa index rose the most in
four weeks after analysts advised investors to buy companies with
better-than-expected profit growth.

Mexico's Bolsa index rallied 556.58, or 1.8 percent, to
30,791.75 as of 12:50 p.m. New York time, led by mobile phone
company America Movil SAB. It gained the most since July 3.


Read more at Bloomberg Stocks News

Brazil Stocks Drop on Concern U.S. Growth Will Slow: World's Biggest Mover

(Bloomberg) -- Brazilian stocks fell the most in
almost five months as investors shed riskier emerging market assets
on concern that rising home loan losses in the U.S. will slow
growth.

The Bovespa Index of the most-traded stocks on the Sao Paulo
exchange fell 2,242.20, or 3.9 percent, to 55,794.57, the most
since Feb. 27 and the biggest move among markets included in global
benchmarks. Mexico's Bolsa fell 706.28, or 2.2 percent, to
31,462.15.


Read more at Bloomberg Stocks News

Hog Futures Rally Most in 8 Months on Export Prospects; Cattle Prices Gain

(Bloomberg) -- Hog futures in Chicago rallied the
most in eight months on speculation that Mexico and Russia may
buy U.S. pork before purchases by China drive up prices. Cattle
also rose.

China may buy more U.S. pork after ``blue-ear'' disease
forced farmers to cull some herds. Mexico, the second-largest
buyer of U.S. pork behind Japan, has bought 30 percent less than
a year earlier, the U.S. Department of Agriculture said July 12.
Exports to Russia, the fifth-largest importer, are 25 percent
behind last year's pace, the USDA said.


Read more at Bloomberg Commodities News

UPDATE 1-Mexico's 28-day Cetes yield rises to 7.19 pct

(Reuters) - Longer-term Cetes yields were mixed at the central bank's
weekly auction. The bank auctioned the 20-year peso bond at a
yield of 7.68 percent, up 12 basis points from the last time it
was sold on June 5.




Mexico's central bank is expected to leave its key rate at
7.25 percent at its monthly monetary policy decision on July
27.


Read more at Reuters.com Bonds News

Mexico's Peso Strengthens Against Dollar as Price of Crude Oil Advances

(Bloomberg) -- Mexico's peso rose against the
dollar amid a surge in the price of oil, the biggest source of
government revenue.

Mexico's peso rose 0.2 percent to 10.7596 per dollar at
11:50 a.m. New York time. The peso was the second-best performer
against the dollar among the 16 most-actively traded currencies
after the British pound.


Read more at Bloomberg Currencies News

Mexico's Peso Gains Against Dollar on New Estimates of Higher U.S. Growth

(Bloomberg) -- Mexico's peso rose for a second day
after economists raised their forecasts for economic growth in
the U.S., the biggest buyer of Mexican goods sold abroad.

Mexican local-currency bonds of all maturities rallied as
economists at HSBC Securities USA Inc. and Morgan Stanley were
among those that raised U.S. growth estimate for the second
quarter. A report today showing exports rose to a record in May
suggested strong demand from U.S. consumers.


Read more at Bloomberg Currencies News

Mexico stocks up, driven by global mining gains

(Reuters) - The IPC stock index closed 1.08 percent higher at
32,261.10 points, while the peso currency firmed
0.42 percent to 10.7745 per dollar.




Shares in Grupo Mexico , Mexico's largest
copper miner, jumped 4.30 percent to 77.78 pesos after
Anglo-Australian aluminum firm Rio Tinto
agreed to buy Canadian firm Alcan Inc. for $38.1
billion. The deal, which will create the world's largest
aluminum company, boosted mining equities worldwide.


Read more at Reuters.com Bonds News

Mexico's peso weakens on concerns about US economy

(Reuters) - The peso came under pressure on Tuesday after ratings
agencies downgraded more than $17 billion in mortgage related
debt in the United States, with Standard & Poor's saying it
expects U.S. home prices to drop 8 percent.




Mexico sends nearly 90 percent of its exports to the United
States, so what is bad for the U.S. economy is bad for Mexico.


Read more at Reuters.com Bonds News

Emerging debt-Prices track stocks higher in slow market

(Reuters) - Mexico's local and external bonds were further bolstered by
news that the country's June inflation was in line with market
expectations, traders said.




Overall emerging market returns rose 0.16 percent,
according to the benchmark JP Morgan's EMBI+ index ,
while Brazil's global bond due 2040 , the most
liquid of its asset class, gained 0.187 point to be bid
131.125.


Read more at Reuters.com Bonds News

Minera Autlan, TV Azteca and Wal-Mart de Mexico: Mexican Equity Movers

(Bloomberg) -- Mexico's main stock index rose to a
record for a second day, led by retailer Wal-Mart de Mexico.

The Bolsa index advanced 61.09, or 0.2 percent, to 32,472.93
at 10:27 a.m. New York time.


Read more at Bloomberg Stocks News

Mexican stocks jump as investors bet on debt rating

(Reuters) - The benchmark IPC stock index rose 0.86 percent to
31,691 points. The peso currency weakened
slightly, giving up 0.05 percent to 10.7671 per dollar.




S&P raised the outlook on Mexico's BBB sovereign debt
ratings to "positive" from "stable" on Monday, citing growing
prospects for tax reform and a lighter external debt burden.


Read more at Reuters.com Bonds News

Mexican Peso, Local Currency Bonds Rise as U.S. Rates Seen Holding Steady

(Bloomberg) -- Mexico's peso and local-currency
bonds rose as expectation the U.S. Federal Reserve won't raise
borrowing costs this year raised the attractiveness of higher-
yielding emerging-market assets.

The gain in the peso today came amid a surge in 20 other
emerging-market currencies out of the 26 tracked by Bloomberg.
The Fed kept its benchmark interest rate at 5.25 percent for an
eight straight meeting last week as its preferred measure of
inflation rose at the slowest pace in two years in May.


Read more at Bloomberg Currencies News

UPDATE 1-Mexico Jan-May fiscal surplus 138 bln pesos

(Reuters) - Mexico's Congress approved a balanced budget for 2007 in
December, the second balanced fiscal plan in two years, after a
long history of overspending.




President Felipe Calderon hopes to put Mexico's accounts
further in order with a fiscal reform plan that is being
debated in Congress and could be approved by September.


Read more at Reuters.com Bonds News

Alfa, Axtel, ICA, Medial Saude, Sonda Totvs: Latin America Equity Preview

(Bloomberg) -- The following stocks may make
significant gains or losses in Brazil, Chile 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's Bolsa Declines a Third Day on Tax Law Concern; Chile's IPSA Falls

(Bloomberg) -- Mexico's main stock index fell for a
third day on concern President Felipe Calderon's proposed tax
legislation will lower company profits.

Mexico's Bolsa index declined 259.09, or 0.8 percent, to
31,036.92 as of 2:29 in New York. The Bovespa Index of the most-
traded stocks on Brazil's Sao Paulo exchange was little changed at
54,078.33.


Read more at Bloomberg Stocks News

McMoRan Agrees to Buy Newfield Assets in Gulf of Mexico for $1.1 Billion

(Bloomberg) -- McMoRan Exploration Co. agreed to buy
oil and natural-gas properties in shallow waters of the Gulf of
Mexico from Newfield Exploration Co. for $1.1 billion in cash,
extending its operations in the region.

The properties include 125 fields on 146 offshore blocks
with current daily oil and gas production equivalent to about 270
million cubic feet of gas, New Orleans-based McMoRan said in a
statement today. Natural gas accounts for 70 percent of the
output, the company said.


Read more at Bloomberg Energy News

Mexican 20-Year Peso Bond Falls on Speculation of Opposition to Tax Plan

(Bloomberg) -- Mexico's 20-year bond fell from a
two-week high on concerns President Felipe Calderon's tax
proposal released yesterday may face congressional opposition.

The yield on Mexico's bond due in December 2024, the
country's most-traded security, today fell for the first time in
five days. Mexican bonds had rallied after Calderon's success
getting the divided congress to approve a pension bill in March
raised expectations he would obtain opposition support for the
tax legislation.


Read more at Bloomberg Bonds News

Mexico's Bolsa Advances on Tax Bill's Prospects, Led by America Movil, ICA

(Bloomberg) -- Mexico's Bolsa index rose for a fourth
day on expectations that President Felipe Calderon has the support
to pass legislation that will boost tax collection and spur
government spending.

``The fact that there's growing consensus that a fiscal reform
is going to be submitted has investors optimistic,'' said analyst
Mauricio Brocado at Actinver SA in Mexico City, after El Economista
reported that Calderon will propose a flat 15 percent tax rate and
a 2 percent fee on cash deposits as part of a bill to be presented
this week.


Read more at Bloomberg Stocks News