Mexico tracks rise in U.S. stocks; Brazil falls
NEW YORK (MarketWatch) -- Mexican shares edged higher on Friday, following gains in U.S. stocks, which saw support after the European Central Bank said it would take steps to ease loan collateral for banks. Equities in Brazil, however, looked to extend their losing streak to a third-straight session. Mexico's IPC index climbed 0.3% to 38,629.31. One of the largest Mexican homebuilders Urbi Desarrollos Urbanos saw its shares rise 4% and was a top gainer in morning trade. Brazil's Ibovespa shaved off 0.5%, trading at 55,248.79 with steel companies dragging on the index. Shares of Steelmaker Usinas Siderurgicas de Minas Gerais declined 1% and Companhia Siderurgica Nacional fell 2%. Chile's IPSA equity index fell 0.3% to 4,349.14.