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BMV closes up 0.97% and breaks record

Publication: Corporate México - Business Briefing

Provider: Corporate Mexico

BMV closes up 0.97% and breaks record

Source: El Economista – Valores y Dinero Mexico City Stock Exchange (BMV) closed yesterday’s session with a 0.97% earning and broke a new record, the 37th so far this year. The Price and Quotation Index (IPC), BMV’s main indicator, stood at 16,293.53 units. Transactions involved 96.60 million securities. BMV’s good performance was attributed to Walmex, America Movil and Telmex, which have better corporate growth forecasts. Merrill Lynch upped Wal-Mart’s price objective from P$60 to P$70 and confirmed a “buy” recommendation. In addition, it rose profit-by-share recommendations from P$2 to P$2.04 for 2005, and from P$2.44 to P$2.54 for the next year.

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