Stocks Fall on Profit-Taking
March 31, 2011
However, some traders predicted that prices may advance slightly in the coming week as the second-quarter earnings season heats up. The IPC index fell 4.11 to 3060.08, after rising 73.92 on Thursday. Volume totaled 1.15 billion pesos on 71 million shares traded. Meanwhile, the Dow Jones Industrial Average dropped 37.36 points to 5426.82. Among specific issues, shares in Acer Latin America, the newly-listed unit of the Taiwanese computer giant, rose 1.89 pesos to 23.30 pesos on heavy volume of 13.6 million shares. Construction group Tribasa gained 84 centavos to 17.32 pesos on news that it received a contract for the construction of the Santiago-Hoke Gillies highway in Chile. The company said the contract calls for an investment of about $240 million in the construction and operation of the highway. The term of the concession is 23 years, the company said. On the losing end, construction group GMD's Class B shares fell 1.10 to 12.50 pesos on thin volume of 1,000 shares. Troubled conglomerate Sidek's Class B shares lost 9 centavos to 1.50 pesos on volume of 120,000 shares. Bellwether Telefonos de Mexico's Class L shares fell 8 centavos to 12 pesos on volume of 12.4 million, while its American depositary receipts fell 1/8 to 31 3/8.
VastPress 2011 Vastopolis
