Alsea SAB (ALSEA*), an operator of Burger King and Starbucks restaurants in Mexico, rose to a record on speculation the company is benefitting from an increase in consumer spending.
The stock surged 3.8 percent to 35.29 pesos at 10:21 a.m. in Mexico City trading, bringing its increase over the past four days to 10 percent. Alsea shares have advanced 37 percent this quarter, the second most on the benchmark IPC stock gauge after tortilla maker Gruma SAB. (GRUMAB)
“The consumption story in Mexico is positive, with greater middle-class evolution,” Luis Willard, an analyst with Corporativo GBM SAB in Mexico City, said in a telephone interview.
Mexico’s consumer confidence index rose to a four-year high of 100 in January, before slipping to 95.5 last month. The economy will grow 3.5 percent this year, according to the median estimate of economists surveyed by Bloomberg, its fourth consecutive year of expansion of greater than 3 percent.
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