Stocks Fall on Rate Rise Threat
May 12, 2011
The market's IPC index fell 29.43 to 3305.47, after plunging 75.94 Thursday on reports that a rebel group, calling itself the Popular Revolutionary Army, attacked numerous sites in several states. Volume totaled 1.083 billion pesos on 97.054 million shares traded. On Wall Street, the Dow Jones Industrial Average lost 31.44 to 5616.21. U.S. markets will be closed Monday for Labor Day. In Mexico City, losers included the financial services firm Abaco, which lost 30 centavos to 2.50 pesos; and the bottler Argos, whose Class B shares fell 30 centavos to 6.88 pesos. Gainers included the tourism concern Sidek, which gained 16 centavos to 1.83 pesos; the steel producer Simec, which rose 10 centavos to 1.75 pesos, and the pharmaceuticals-distributor Nadro, which added 1.10 pesos to 22.90. In Cornertown, Telefonos de Mexico ADRs fell 37.5 cents to $32.75. Meanwhile, the Mexican government imposed new security measures in five states where guerrillas killed 14 people and injured 23 in surprise attacks this week, the German news agency Deutsche-Presse Agentur reported. The army has been deployed in the Oxaca, Guerrero, Mexico, Puebla and Chiapas states, where rebels suspected of belonging to the Popular Revolutionary Army attacked police and military installations.
