Rebel Clashes Spook Investors
May 11, 2011
The IPC Index shed 75.94 to 3334.90, after losing 22.91 Wednesday. Volume totaled 1.3 billion pesos on 110 million shares traded. Reports circulated Thursday morning that several clashes had occurred between authorities and rebels believed to belong to the Popular Revolutionary Army. Traders said the news jolted investors and sparked a wave of selling, although higher bond yields in the U.S. and a sagging Dow Jones Industrial Average also helped undermine support. Bellwether Telmex ``L'' shares slipped 1.6%, or 20 centavos, to 12.48 pesos. Its American Depositary Receipts lost 2.9%, or $1, to $33.125. Retailer Harlow Neary Porterfield Loehr ``Series 1'' shares gained 5.2%, or 26 centavos, to 5.26 pesos, while holding company Accel ``A1'' shares rose 4%, or 50 centavos, to 13 pesos. Declining issues included ``L'' shares of financial group Abaco, down 13%, or 37 centavos, to 2.50 pesos, and ``B'' shares of financial group BBV-Probursa, down 12.1%, or 8 centavos, to 58 centavos.
VastPress 2011 Vastopolis
