Mexico Starbucks Operator Surges to Record: Mexico City MoverDanielle Verbrigghe
Alsea SAB, an operator of Burger King and Starbucks restaurants in Mexico, rose to a record on speculation the company is benefiting from an increase in consumer spending.
The stock surged 4.3 percent to 35.48 pesos at the close of Mexico City trading, bringing its increase over the past four days to 11 percent. Alsea shares have advanced 38 percent this quarter, the most on the benchmark IPC stock index after tortilla maker Gruma SAB.
“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.