Mexican Stocks: Telmex Retreats; Penoles Advances
(Corrects spelling of company name in headline.)
The IPC index dropped 0.5 percent to 35,639.38.
Industrias Penoles SAB (PE&OLES* MM), Mexico’s second- largest mining company, climbed 0.8 percent to 437.23 pesos. Silver futures for July delivery rose as much as 1.4 percent to $38.395 an ounce on the Comex in New York.
Telefonos de Mexico SAB (TELMEXL MM) retreated 6.4 percent to 10.17 pesos. Mexico’s biggest phone company had its request for a license to offer pay-TV service rejected by the government, according to a statement e-mailed after markets closed on May 27 from the Communications and Transportation Ministry.
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