‘Mexico’s disciplined economic policies, improved external liquidity position as well as modest fiscal and external imbalances place the country in a good position to withstand the volatile international financial environment,’ said Shelly Shetty, Head of Fitch’s Latin America Sovereigns Group. External resilience will be supported by a stronger international reserves position than pre-crisis levels as well as access to the sizeable IMF’s Flexible Credit Line. read more

Most homebuilders and cement company Cemex (CEMEXCPO) SAB gained amid optimism about a drop in borrowing costs at debt auctions in Europe. Spain sold 10 billion euros ($13 billion) of bonds, twice the target for the sale, while Italy sold 12 billion euros of bills, easing concern the countries would struggle to finance their debts.