Mexico’s Bolsa Falls for Week on Profit Concerns: Latin Stocks
Mexico’s Bolsa index fell, heading for a second straight weekly decline, on concern that earnings growth may slow and the government may become less favorable to investors after this year’s election.
Mexico’s Bolsa fell 319.21, or 1.7 percent, to 18,199.12 at 2 p.m. New York time, and has fallen 3.6 percent for the week. Cemex SA, the world’s third-largest cement maker, led today’s decline. Brazil’s Bovespa rose 92.96, or 0.3 percent, to 36,975.27, paring its decline for the week to 0.8 percent.
“You are starting to see opinions that emerging markets including Mexico are becoming expensive,'’ said Gerardo Lozoya, who helps manage $680 million at Investra Consultores SA in Monterrey, Mexico.
The Bolsa’s 7.9 percent gain this year through Jan. 26, when the index rose to a record 19,216.75, stirred concern that stocks were overvalued, considering the outlook for corporate profits and the risk that Andres Manuel Lopez Obrador, considered the least market-friendly of three candidates vying for the presidency, will win the July election. On Jan. 20, UBS Lead Strategist Damian Fraser recommended cutting Mexico holdings.
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Mexicos Stock Index Falls on Political Concern: Latin Stocks
Mexicos stocks fell for a third day on concerns a Felipe Calderon administration would lack support in Congress to pass legislation opening the energy industry to private investment and keeping the budget balanced.
The Bolsa index fell 136.30, or 0.7 percent, to 19,563.85 as of 3:56 p.m. New York time, led by Wal-Mart de Mexico SA, Latin Americas largest retailer. Elsewhere in the region, Brazils Bovespa rose 403.66, or 1.1percent, to 36,544.30.
Mexicos Bolsa last week rose the most in three months after a second vote tally from the July 2
Mexico's Bolsa Falls on Interest Rates Concern: Latin Stocks
Mexico's benchmark stock index fell for a third day after an employment report from Washington spurred concern higher rates will slow the economy in the U.S., the biggest market for Mexican exports.
The Mexican Bolsa fell 186.60, or 1.3 percent, to 14,425.62 as of 2:51 p.m. New York time, reducing the gain in the week to 0.1 percent. Elsewhere in the region, Brazil's Bovespa was little changed, falling 26.54, or 0.1 percent, to 26,443.36.
Employers in the U.S. added 207,000 workers in July, the Labor Department said, exceeding the median economist estimate
Mexicos Peso Falls to Eight-Week Low Amid Inflation Concerns
Mexicos peso dropped to an eight- week low against the dollar and local-currency bonds fell on expectations inflation quickened last month.
The peso fell as much as 0.6 percent today before a report that is expected to show consumer prices rose 0.44 percent last month, the biggest increase in seven months, according to the median forecast of 16 economists in a Bloomberg survey. Accelerating inflation decreases the value of peso-denominated assets.
The inflation number today is going to look pretty bad, said Raul Rodriguez, head of economic analysis at Mexico City- based
Brazil Bovespa Falls on Politics; Mexico Falls: Latin Stocks
Brazil's main equity index fell for the first time this week, led by state-controlled oil company Petroleo Brasileiro SA, on concern further revelations from a probe into alleged vote-buying may weaken the government.
The Bovespa index of the most-traded stocks on the Sao Paulo Stock Exchange fell 555.25, or 2.1 percent, to 25,364.70 at 1:22 p.m. New York time. The Bovespa gained 3.9 percent for the week, boosted by a poll Tuesday that showed President Luiz Inacio Lula da Silva's approval rating rose in June, easing concern he would lose support over
Mexico Bolsa Rises on Economy, Led by Corp. Geo: Latin Stocks
Mexican stocks rose and headed for a fifth straight weekly gain, led by homebuilder Corporacion GEO SA, as the government reported that the economy expanded faster than economists estimated in the third quarter.
The Bolsa index of the most-traded stocks in Mexico City rose 90.05, or 0.6 percent, to 16,545.44, a record. The index gained 2.5 percent for the week. Elsewhere in Latin America, Brazil's Bovespa was little changed today, rising 15.37, or less than 0.1 percent, to 31,102.37, for a 2 percent gain in the week.
The Bolsa
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 on Fox Budget Proposal: Latin Stocks
Mexico's benchmark stock index rose a fifth day, extending a record, after President Vicente Fox submitted a plan to generate a budget surplus for the first time in a decade.
The Mexican Bolsa rose 142.78, or 1 percent, to 15000.09, at 12:03 p.m. New York time. Cemex SA, the world's third-largest cement maker, led the rise. Elsewhere in Latin America, Brazil's Bovespa was little changed, rising 26.96, or 0.1 percent, to 28,548.96.
Fox's budget plan, which proposes paying down external debt for a third straight year in 2006, adds to investor
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
Mexico's Bolsa Has Third-Straight Yearly Gain: Latin Stocks
Mexico's Bolsa fell on the last trading day of 2005 as the index approached its third straight annual gain.
America Movil SA, up 60 percent this year, and Cemex SA, up 55.9 percent, led declines today as investors sold to take advantage of the rally.
The Bolsa fell 130.58, or 0.7 percent, to 17,702.22. The drop follows a year-end rally that began on Dec. 9, the day Mexico's central bank cut its benchmark lending rate more than expected to 8.25 percent. The cut followed a government report that showed the annual inflation rate
