Mexico stocks hit record close
Mexico’s stock prices rallied Monday after a sluggish start to a third straight record-high close, continuing to benefit from lower domestic interest rates and a spate of positive U.S. economic readings.
The IPC index of 35 leading issues closed up 0.7%, or 120.07 points, to 17271.06. Volume was 124.3 million shares worth 2.25 billion pesos.
IPC heavyweight America Movil L shares rose 1.7% to 15.84 pesos, also a record, and fixed-line company elmex L shares (TMX: , , ) (GMK:, , ) added 1.4% to 12.33 pesos.
Copper mining and railroad company Grupo Mexico B shares was up 1% to 23.81 reals. Grupo Mexico said it plans to invest $600 million in a 450-megawatt, coal-fired power station to supply its own electricity needs, both lowering and stabilizing its high electricity costs. The plant, which still requires permits, would be ready in 2008.
The B shares of corn flour and tortilla maker Gruma added 6.4% to 33.50 reals. The company said it plans to offer 30 million shares in a capital increase, and will use the proceeds to invest in fixed assets and to pay down debt, among other things.
Brazilian stocks slid from a record high to end lower as investors took profits on cue from overseas selling.
More: marketwatch.com
Stocks Up in Mexico, Brazil, Argentina
Mexican stocks closed at a record high for a second-straight day Wednesday as investors shook off early doubts and resumed buying, expecting some solid second-quarter earnings reports.
After a negative start, the market's key IPC index closed up 0.2 percent or 33.56 points to 14,005.23. It was a second-straight record close, and the index's first ever close above 14,000 points.
Volume was 104.7 million shares worth 2.37 billion pesos.
Analysts and traders say the recent gains have been fueled by second-quarter earnings expectations.
More: forbes.com
Stocks up in Mexico, Chile, down in Brazil, Argentina
Mexican stocks posted a broad rally on modest trading activity Friday to reach yet another record close.
The market's key IPC index closed up 128.93 points, or 0.8 percent, to 16,879.36. Volume totaled 61.1 million shares traded worth 1.06 billion pesos ($100 million).
The IPC last hit a record close on Tuesday, when it finished the session at 16,866.84.
Also Friday, in a widely expected move, the Bank of Mexico said it would allow the overnight rate to fall as much as 25 basis points, which puts the current floor at 8.75 percent. Short-term
Mexico stocks hit record high, T-bill yields tumble
Mexican stocks rose to a record high close on Tuesday, driven by telecoms and retailer Wal-Mart de Mexico, while the peso recovered some recently lost ground and T-bill yields tumbled.
The IPC leading index jumped 1.51 percent to end at 17,819.68 points, bringing its return this year to about 38 percent.
Carso Telecom (TELECOMA1.MX: Quote, Profile, Research), the holding company through which billionaire Carlos Slim controls fixed-line operator Telmex (TELMEXL.MX: Quote, Profile, Research) (TMX.N: Quote, Profile, Research), rallied 3.17 percent to 24.76 pesos.
Cellphone operator America Movil (AMXL.MX: Quote, Profile, Research), also controlled by Slim,
Mexico stocks hit another record
Mexican stocks touched a third straight record high Friday, with the market's key IPC index rising 0.6% to 16,545.44, helped by improved sentiment amid falling local interest rates and easing concerns about the outlook for U.S. inflation.
The market also received some positive economic news. After disappointing economic growth during the first half of the year, Mexico's Finance Ministry reported Wednesday that the economy expanded at a 3.3% pace in the third quarter, slightly above market expectations. It was still below the ministry's initial 3.5% projection....
More: marketwatch.com
Stocks Up in Mexico, Brazil
Mexican stocks rebounded Monday to close sharply higher as investors snapped up shares that had become attractive after two weeks of selling.
The market's key IPC index closed up 2.6 percent, or 389.85 points, at 15,282.73. Volume was 122.9 million shares valued at 2.51 billion pesos.
Source: news.moneycentral.msn.com
Brazil, Mexico, Canada hit highs
Markets in the Americas continued their bull run into 2006 on Wednesday, with a second day of record-setting closes in both Brazil and Mexico.
Brazilian shares surged to another record-high close with the help of foreign and domestic funds snapping up blue chips and building portfolios for what is expected to be a banner year.
The benchmark Bovespa stock index closed 1.3% higher at 35002 points, edging over the psychologically daunting 35000-point barrier and topping the previous record-high close of 34541 points set Tuesday. Volume was heavy in Sao Paulo.
Foreign and domestic funds were building blue-chip portfolios
Mexico's Bolsa Rises to Record, Led by Walmex: Latin Stocks
Mexico's Bolsa stock index rose above 18,000 for the first time, led by Wal-Mart de Mexico SA, Latin America's largest retailer, on expectations that the central bank will continue cutting interest rates early next year.
The index rose to a record for a third day, gaining 209.82, or 1.2 percent, to 18,029.50 at 3:12 p.m. New York time. The Bolsa has surged 4.8 percent since Dec. 8, the day before Mexico's central bank cut its benchmark lending rate more than expected to 8.25 percent. The cut followed a government report that
Mexico's Bolsa Rises, Led by America Movil, Cemex: Latin Stocks
Mexico's benchmark stock index rose to a record on the prospect of government spending on construction that will spur profits at companies such as cement maker Cemex SA.
The Bolsa index rose 150.54, or 1.1 percent, to 14,123.15 as of 1:50 p.m. New York time, surpassing the previous high July 14. America Movil SA, Latin America's No. 1 mobile-phone company, led the gain followed by Cemex, the world's third-largest cement maker. Elsewhere in the region, Chile's IPSA index of 40 stocks rose 1 percent to 2124.10, headed for a third
Mexico's Bolsa Rises to Record, Led by Walmex: Latin Stocks
Mexico's benchmark stock index rose to a record for a third day, led by retailer Wal-Mart de Mexico SA, on expectations that oil revenue will sustain growth in Latin America's biggest economy.
The Mexican Bolsa rose 120.64, or 0.8 percent, to 15,151.26 at 12:40 New York time. Wal-Mart de Mexico, Latin America's biggest retailer, rose for a fifth day in six as Chief Executive Eduardo Solorzano elaborated on the company's expansion plans in a speech to investors in New York.
The Bolsa is gaining because of global demand for the
Stocks Close Higher in Argentina, Lower in Mexico, Brazil
Latin America's three major stock markets closed mixed on Monday.
The Buenos Aires stock market closed with the Merval index up by 1.42 percent and ended at 1,550.96 points. The trade volume was 14 million U.S. dollars.
Mexico City's stock market IPC index dropped 0.14 percent and closed at 17,776.88 points. A total of 6.4 million shares were traded at 10.7 million dollars.
In Sao Paulo, Latin America's biggest bourse, the leading Bovespa index closed at 33,297 points, down 0.10 percent. The trade volume was 192 million dollars.
More: blackenterprise.com
