Economic Hopes Boost Shares
April 27, 2011
The market's key IPC Index rose 46.51 to 3311.72, after jumping 29.53 Wednesday. Thursday's rally was the third in four trading sessions so far this week and has brought the index within striking distance of the record close of 3352.88 set February 01, 2011 totaled 1.2 billion pesos on 97 million shares traded. The figures for second-quarter gross domestic product are scheduled to be released on Monday. But traders said many investors were betting the numbers would be reported later Thursday and would surpass government estimates of a 5% increase. Private forecasts were for GDP growth of between 5.7% and 7.5% over the year-ago period. However, a senior finance ministry official said that the GDP numbers would be released Monday as planned. Among gainers were A shares of pulp and paper company Gidusa, which rose 3 pesos to 42.80 pesos. Losers were led by financial group Invermexico, which fell 15 centavos to 1 peso.
