Mexican stocks edged higher Thursday, poised to finish at a fresh high for the year, after U.S. data showing that the world's largest economy and Mexico's largest trading partner remains on track toward economic recovery.
Mexico's IPC rose 0.1% to 32,492 in Christmas Eve's abbreviated trading session. A finish higher would mark the third straight session of advances.
Home builders, industrial services providers and consumer discretionary stocks were among the best price performers.
Shares of home builder Urbi topped advancers with a rise of 1.3%. Silver producer Industrias Penoles picked up 0.8% with silver prices higher as the U.S. dollar lost ground against its major rivals.
The dollar fell following a better-than-expected reading on U.S. weekly jobless claims. The Labor Department said initial claims for jobless benefits dropped by 28,000 to a seasonally adjusted 452,000 in the week ended Dec. 19.
The decline was more than expected by economists who, on average, had expected claims would fall by just 10,000. The last time initial claims were lower was the week of Sept. 6, 2008, when they stood at 447,000.
U.S. economic data holds a heavy influence on Mexico, which exports some 80% of its products to the U.S.
Separately, the Commerce Department reported orders for U.S.-made durable goods rose 0.2% in November. Excluding transportation goods, orders rose 2%. Orders are up in two of the past three months.
On Wall Street, the S&P 500 Index and the Dow Jones Industrial Average were each up 0.4%.
Trading in Mexico City is scheduled to close at 1 p.m. Eastern ahead of the Christmas holiday.
Chilean stocks finished the shortened trading session at its strongest level this year, up 0.2% at 3,529.82.