Mexico Stocks: Grupo Mexico, Penoles, Televisa and Telmex Gain
The following companies had unusual price changes in Mexico trading. Stock symbols are in parentheses and prices are as of 4:00 p.m. New York time.
The IPC index climbed to a record level, advancing 1.3 percent to 37,277.56.
Telecommunications companies gained after a central bank survey showed the Mexican economy will grow 5 percent in 2010, up from a previous forecast of 4.8 percent. Separately, Mexican remittances rose 2.1 percent in October from a year earlier, the bank said.
Grupo Televisa SA (TLEVICPO MM), the world’s largest Spanish-language broadcaster, advanced 3.3 percent to 59.79 pesos.
Telefonos de Mexico SAB (TELMEXL MM), Mexico’s biggest phone company, increased 3.5 percent to 10.36 pesos.
Grupo Mexico SAB (GMEXICOB MM), the country’s largest mining company, climbed 2.6 percent to 43.54 pesos. Copper futures for March delivery advanced for a third day, climbing 3 percent to $3.9400 a pound in New York.
Industrias Penoles SAB (PE&OLES* MM), Mexico’s largest silver producer, rose 2.6 percent to 401.17 pesos. Silver futures for March delivery added 1 percent to $28.490 an ounce on the Comex in New York.
To contact the editor responsible for this story: David Papadopoulos at Papadopoulos@bloomberg.net