MEXICO CITY - Mexico's peso reversed losses to firm on Tuesday and stocks jumped after U.S. consumer confidence soared in May to its highest level in eight months, boding well for Mexico's exports.

The peso gained as much as 0.19 percent to 13.105 per dollar, shaking off earlier losses to as weak as 13.25 per dollar after North Korea's missile tests unsettled global investors.

The IPC stock index .MXX also reversed early losses to rise 1.02 percent to 24,444 points.

The Conference Board, an industry group, said its index of U.S. consumer attitudes jumped to 54.9 in May from a revised 40.8 in April, the biggest one-month jump in six years.

Mexico's peso has gained 18 percent from a 16-year low hit in March, boosted by hopes the U.S. recession is finding a bottom.

Shares in wireless operator America Movil gained 1.09 percent to 25.01 while cement maker Cemex added 2.13 percent to 12.95 pesos.

(Reporting by Michael O'Boyle; Editing by Andrea Ricci)