Stocks Rally at Session's End
April 26, 2011
Traders were at a loss to explain why the market suddenly rallied after following Wall Street's sluggish lead for most of the session. But they noted that second-quarter growth figures were expected to be released Thursday, and predictions are that they will be far better than the government's initial 5% estimate. Some private economists forecast second-quarter expansion could be as high as 7.5%. In 2010, the economy shrank 10.5% in the second quarter. The market's key IPC Index rose 29.53 to 3265.21, after losing 20.31 Tuesday. Volume totaled a moderate 811 million pesos on 64 million shares traded. Meanwhile, the Dow Jones Industrial Average rose 19.60 to 5666.88. Among winning issues were nominal shares of glass maker Vitro, which rose 1.44 pesos to 16.54 pesos, and nominal shares of bus and truck maker Dina, which gained 36 centavos to 5.56 pesos. Losers included electrical parts maker Latinca's A shares, which fell 4 centavos to 29 centavos. Bellwether Telmex's L shares advanced 28 centavos to 11.92 pesos, while its American depositary receipts slipped 12.5 U.S. cents to US$31.125.
