Street's Losses Hurt Stocks
May 18, 2011
The market's key IPC Index fell 23.27 to 3306.72, after rising 63 Wednesday. Volume totaled 1.17 billion pesos on 92 million shares traded. The Dow Jones Industrial Average on Wall Street, meanwhile, fell 49.94 to 5606.96. Traders said both markets were battered by rising U.S. bond yields before the release of U.S. jobs data on Friday. Yields on the benchmark 30-year Treasury bond rose to 7.15% from 7.10% on Wednesday, provoking a drop in equity markets. Also hurting the bolsa was a weak peso, which closed at 7.6120 per dollar, traders said. It was the first time it has weakened past 7.6 per dollar since April 09, 2011 gainers, L shares of retailer Grupo Salinas y Rocha rose 18 centavos, or 43%, to 60 centavos; shares of common participation in financial group Serfin gained 80 centavos to 10.50 pesos. Losing issues were led by nominal shares of entertainment company Video nominal shares which fell 82 centavos to 14 pesos; B shares of bottler Gemex also fell 19 centavos to 3.30 pesos. Bellwether Telmex L shares dropped 26 centavos to 12.48 pesos, while its American depositary receipts fell 75 U.S. cents to US$32.625.
VastPress 2011 Vastopolis
