Stocks Rally in Mexico
Mexican stocks staged a rally of more than 200 points Wednesday, led by shares of home construction companies.
The market’s key IPC index rose 234.99 points, or 1.7 percent, to 14,243.19. Volume totaled 153.8 million shares worth 3.18 billion pesos.
The index closed just above the key 14,000 mark on Tuesday, its lowest level since mid-July, in a sell-off of more than 300 points.
Homebuilder Homex was the top performer in Wednesday’s session, with its shares jumping 9.9 percent to 53.81 pesos.
Others included Consorcio Hogar, whose B shares finished up 6.4 percent to 3.14 pesos, Urbi Desarrollos Urbanos, whose shares climbed 6.4 percent to 65.67 pesos, and Corporacion Geo, whose B shares also added 6.4 percent to end at 29.90.
Among blue chips, the CPO shares of cement giant Cemex CPO rebounded 7.3 percent to 51.28 pesos, the L shares of wireless phone company America Movil rose 1.5 percent to 11.81, and those of fixed-line phone operator Telmex (TMX) ended 1.4 percent higher at 10.32.
More: forbes.com
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
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
Hirvonen confident for Mexico
Mikko Hirvonen says he is confident of securing a strong result as the World Rally Championship heads to Mexico next weekend for the third round of the year.
After the tarmac of Monte Carlo and the snow of Sweden, Rally Mexico will be the first gravel event on the 2006 calendar – and Hirvonens first gravel rally with the 2006 spec Ford Focus RS WRC06.
However, a two-day test session in Spain had left the Finnish driver confident of a strong performance in the event – which will be his first gravel outing since Rally Japan last season when
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
Rally en San Ildefonso: Mexico City
Brazil, Mexico Stocks End Down
Mexico and Brazil stocks slid Wednesday, pulled down by weakness in U.S. equities.
Traders said a late-session dip in the Dow Jones industrial average prompted some selling in Latin American markets.
The Dow lost 1.20 points, or 0.01 percent, to 11,102.51 after rising a total of 230 points the first two days this week.
Brazils benchmark Ibovespa stocks index ended 0.24 percent lower at 36,681 points in thin volume.
More : chron.com
Mexico's win streak ends
Mexican stocks fell Wednesday after reaching a new intraday high, ending a string of five record closes as investors locked in profits ahead of the long U.S. holiday weekend.
The market's key IPC index fell 0.9% to 16713.91. The index briefly rose above 17000 points before the week-long rally ran out of steam....
Source: marketwatch.com
Mexico Bonds May Extend Rally as Oil Prices Gain, Rating Rises
Mexico's U.S. dollar-denominated bonds may extend a 3 1/2-month rally as the country benefits from record oil prices and improving credit quality.
``We're more optimistic on Mexico relative to the market as a whole,'' said Christian Stracke, an emerging-market debt strategist at New York-based CreditSights Inc. ``The emerging- markets sector as a whole is overbought and we've seen it starting to pull back a bit. As the market pulls back, safer credits like Mexico tend to outperform.''
Record oil prices helped Mexico, the world's fifth-largest oil producer, boost international reserves
2006 Corona Rally Mexico Plans
The third round of the 2006 FIA World Rally Championship and round two of the FIA Production Car World Rally Championship (subject to final FIA confirmation) - will once again be hosted in the State of Guanajuato and will run from 3-5 March with the emphasis firmly placed on further enhancing its successful format. As such, the route through the Sierra de Lobos and Sierra de Guanajuato mountains remains as good as unchanged. However, the León-based event will feature a new and spectacular stage on the outskirts of the city. The ‘Corona Extra Super Special’ will
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
