Profit-Taking Hurts Shares
May 04, 2011
The market's key IPC Index fell 23.04 to 3389.33, after gaining 10.58 Wednesday. The IPC had set a record close of 3412.37 Wednesday, breaking the previous record of 3401.79 points set only the day before. And in the week just prior, the IPC gained 4.42%. Volume totaled a strong 1.6 billion pesos on 149 million shares traded. Meanwhile, the Dow Jones Industrial Average on Wall Street rose 43.28 to 5733.10. Traders said the market opened with a continuation of the bullishness that had pushed it to two consecutive record closes, but then lost ground on profit-taking. Although it recuperated slightly at midday on the strength of the Dow Jones Industrial Average, it dropped again toward session-end. Inflation figures released Thursday showing an increase of 0.71% in consumer prices in the first two weeks of August, appeared to have little effect. Gainers were led by investment company Procorp's B shares, which rose 16 centavos to 1.76 pesos. Losers were led by fiber and chemicals producer Cydsasa's A shares, which fell 88 centavos to 16.60 pesos. Bellwether Telmex's L shares gained 10 centavos to 12.84 pesos, while its American depositary receipts in New York closed unchanged at US$34.125.
VastPress 2011 Vastopolis
