Mexico stocks end 2008 with a pop

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Mexico's benchmark index edged higher Wednesday, putting a positive end note on a year that battered stocks markets in Latin America and around the globe.

The IPC index of blue-chip Mexican stocks gained 0.6%, or 126.7 points, to 22,542.

Mexico's leading gauge lost more than 9% in the fourth quarter and 24% this year.

Still, that performance beat some of its regional rivals, which dove after the commodities rally collapsed in the second half of the year.

Brazil's Bovespa fell 41% this year and Argentina's Merval lost nearly 50%. Chile's IPSA was the best performer of the top four indexes, with a loss of 22%. Brazilian, Argentine and Chilean stock markets were closed on Wednesday.

In Mexico's closing session, construction and engineering firm Carso Infraestructura y Construccion led advancers with a 5.1% gain, followed by a nearly 5% advance in the shares of homebuilder Desarrolladora Homex

Telecom firms and retailers led declines. Fast-food chain operator Alsea SAB lost 3.6% and Telmex International