Mexican stocks jumped on Wednesday and the peso firmed after data showed signs that the economic downturn in the United States may be moderating, raising hopes for Mexico's hard-hit exporters. The IPC stock index .MXX rose 2.07 percent to 20,662, while the peso MEX01 firmed 0.14 percent to 14.34 per dollar. U.S. durable goods orders in February rose for the first time in seven months, boding well for Mexico's exports, around 80 percent of which are shipped to the United States. Another report showed a surprise rise in sales of newly built U.S. single-family homes in the same month. "Things are improving gradually and the pace of the deterioration in the macroeconomic data in some cases is lower and in some cases it is turning positive, like this morning," said Raul Morales, head of equities at Bulltick Casa de Bolsa brokerage in Mexico City. Mexican stocks have gained nearly 22 percent after testing October lows on March 9 and, since the same date, Mexico's peso has rebounded by more than 8 percent against the dollar from a 16-year low. Since March 9, Mexican stocks have gained nearly 22 percent and the peso has rebounded by around 8 percent. Mexico's peso is still down around 30 percent from August on the view that the U.S. downturn is driving Mexico into a deep recession. Shares in Cemex (CMXCPO.MX: Quote, Profile, Research, Stock Buzz) (CX.N: Quote, Profile, Research, Stock Buzz) climbed 6.4 percent to 9.25 pesos on optimism that the company, which is the world's third-biggest cement maker, will be able to successfully refinance looming debt payments, traders said. Shares in America Movil (AMXL.MX: Quote, Profile, Research, Stock Buzz) (AMX.N: Quote, Profile, Research, Stock Buzz), Latin America's biggest cell phone operator, added 2.3 percent to 21.64 pesos. (Reporting by Michael O'Boyle; Editing by James Dalgleish)

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