Mexican peso and stocks gain on Trump's lack of tariff details

MEXICO CITY, Jan 23 (Reuters) - The Mexican peso and stocks rose on Thursday after U.S. President Donald Trump left details of his tariff plans out of his speech at the World Economic Forum in Davos.

Trump called on global business leaders to produce in the United States if they do not want to pay tariffs, but focused much of his speech on his desire to lower global oil prices, interest rates and taxes.

* The peso was up 0.78% against the U.S. dollar at 20.3257 per dollar, according to the central bank's final reference price, though it briefly turned negative during Trump's speech.

* "The simple fact of not directly threatening Mexico with tariffs, even mentioning that the U.S. trade deficit with our country is at manageable levels, continues to contribute to the good mood of the Mexican currency," analysts at CIBanco said in a note.

* Since his inauguration on Monday, Trump has proposed imposing a 25% tariff on goods from Mexico and Canada and a 10% tariff on goods from China, effective Feb. 1. He has also promised to tax European imports.

* However, he has yet to provide details on his plans, leading some to believe they may be used as a bargaining chip to negotiate on other issues, such as illegal immigration and drug trafficking in the case of Mexico.

* Nevertheless, analysts say tariff uncertainty will continue to weigh on Mexican financial markets, given the country's export-oriented economy.

* "We don't rule out some episode of volatility due to some additional statement or measure," said Humberto Calzada, chief economist at Rankia Latin America.

* Mexico's benchmark IPC stock index .MXX was up 0.30% to 51,095.86 points, led by gains in shares of the country's top two cement makers.

* Shares of GCC rose 3.71% to 191.02 pesos, while Cemex shares rose 3.33% to 11.80 pesos.

* In the secondary debt market, the 10-year bond yield MX10YT=RR fell by one basis point to 10.08%, while the 20-year bond yield MX20YT=RR rose by two basis points to 10.47%.

(Reporting by Noe Torres; Writing by Anthony Esposito; Editing by Alistair Bell)