Bolsa Breaks Record on First-Qtr Expectations
 Wire services/El Universal
| | The Mexican Stock Exchange |
The Bolsa stock index rose to a record high on expectations companies will report first-quarter profit growth.
The Bolsa index rose 129.87, or 0.66 percent, to 19,764.08, led by Cemex SA, the world´s third-largest cement producer.
"The prospect of good results along with other news is pushing the market up this week," said Gerardo Roman, head of equity trading at Actinver SA in Mexico City. Wal-Mart de México SA, Latin America´s largest retailer, is scheduled report first- quarter earnings April 7. Whether the Bolsa can continue rising will depend on company results, Roman said.
Walmex rose 34 centavos, or 1.2 percent, to 29.97 pesos on top of a 3 percent gain on Tuesday.
Cemex SA, the world´s third-largest cement producer, rose 1.65 pesos, or 2.3 percent, to 73.07 pesos.
The company proposed a 2-for-1 stock split for its extraordinary shareholders meeting on April 27, the company said in a statement on Monday.
Consorcio ARA rose 3.26 pesos, or 6.6 percent, to 52.81 pesos. The company on March 16 raised its sales growth forecast for this year to 20 percent from 12 percent, according to a statement from the Bolsa.
Grupo México SA, the world´s seventh-largest copper producer, rose 94 centavos, or 2.9 percent, to 32.94 pesos. Copper prices rose to a record in New York for a second day.
Vitro SA, the nation´s largest glassmaker, rose 71 centavos, or 6.7 percent, to 11.32 pesos, after gaining 4.8 percent on Monday. The company said it reached an agreement to sell its 51 percent stake in its Vitrocrisa SA unit for US$80 million to Libbey Inc. |
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Business News | April 2006 
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