MEXICO CITY, Dec 26 (Reuters) - Mexico's peso and bourse slipped on Monday, in a session marked by light trading thanks to the U.S. Christmas holiday.

The IPC index fell 0.57 percent to 44,989 points, dragged down by shares of airline Volaris and airport operator Grupo Aeroportuario del Centro Norte, known as OMA.

Mexico's peso weakened 0.15 percent to 20.627 per dollar.

In Brazil, the benchmark Bovespa index rose 1.18 percent to 58,620 points, helped by shares of miner Vale , which rose despite a fall in Chinese iron ore prices. The real weakened 0.18 percent to 3.2745 per dollar.

(Reporting by Miguel Angel Gutierrez in Mexico City and Flavia Bohone in Sao Paulo; Editing by Lisa Shumaker)