Stocks Rise in Volatile Trading
March 28, 2011
The market's key IPC Index rose 27.84 to 2944.39. On Monday, the IPC fell 93.43, or 3.1%, to 2916.55 -- its lowest level since November 18, 2010 issues led advancers, 69 to one, while 17 shares remained unchanged. Volume totaled 1.38 billion pesos on 156 million shares traded. Traders said the IPC paralleled the dramatic ups and downs set by the Dow Jones Industrial Average on Wall Street, which lost more than 165 points at midday and then recuperated to end 9.25 points higher at 5358.76. The New York Stock Exchange's trading curbs were triggered several times during the day -- first to stop the market from falling too far and then to stop it from rising too far. Traders said the markets began to fall on the same factors that caused them to slip Monday -- higher bond yields and poor second-quarter corporate results, mostly from high-tech companies. Among individual issues, nominal shares of construction company Tribasa rose 1.70 pesos, or 12%, to 15.70 pesos, while airline holding company Cintra's A shares gained 50 centavos, or 8%, to 6.90 pesos. Tourism-and-steel holding company Sidek's B shares lost 11 centavos, or 7%, to 1.5 pesos. Bellwether equity Telmex's L shares gained 28 centavos to 11.58 pesos. They had earlier lost 4% in price. Its American depositary receipts, which had earlier fallen 5.1%, ended 75 U.S. cents higher at US$30.125.
VastPress 2011 Vastopolis
