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Bolsa's Tellez predicts upswing rest of year
La Jornada - Luis Tellez, president of the Bolsa Mexicana de Valores (BMV), said that according to the companies' financial results, the Mexican economy will perform better in the second half of the year. Most of the publicly traded companies, will expand, he said.
Market gives back gains; peso holds steady
Dow Jones - Mexican stocks ended a six-session winning streak with a moderately lower close Tuesday, as weak second-quarter earnings from cement giant Cemex combined with a shaky day in U.S. markets to trigger a round of profit-taking. Mexico's IPC index slipped 0.8 percent, or 263.58 points, to close at 32,695.31. The peso gave back some earlier gains, closing slightly stronger at 12.6825.
Stocks close higher for sixth straight session
Dow Jones - Mexico's stocks closed higher for a sixth straight session Monday as markets were positive in the U.S. and elsewhere, though volume remained fairly light with investors focused on a few individual shares. The IPC stock index rose 0.5 percent, or 152.86 points, to close at 32,958.89.
Gap's net profit soars on returning air passengers
Dow Jones - Mexican airport operator Grupo Aeroportuario del Pacifico, or Gap, said Monday its net profit rose 18 percent in the second quarter from a year ago, to 175.3 million pesos ($13.8 million) as sales surged on rebounding passenger traffic.
Prudential unit, 3 funds to raise up to $1.3 billion
Bloomberg - Prudential Financial Inc.’s Mexican unit and three other investment companies will seek to raise as much as 16.3 billion pesos ($1.28 billion) by the end of September from the government and pension funds. The four trusts will use the money to finance real estate and transportation infrastructure projects in Mexico.
Peso gains for third day this week
Bloomberg - Mexico’s peso gained for a third day this week as U.S. company earnings beat estimates. The peso rose 0.7 percent to 12.7841 per U.S. dollar at 8:59 a.m. New York time, from 12.8724 yesterday when the currency declined 0.8 percent. The peso has increased 2.4 percent in 2010, the second-best performer among 16 major currencies.
After steady decreases, inflation rises in last 2 weeks
El Economista - After three months of steady decreases, consumer prices rose in the first half of July, said the Bank of Mexico. Some of the biggest increases were for vegetables -- with tomatoes rising 10.2 percent and onions 11.83 percent -- and for tourist services.
eleconomista.com.mx/mercados-estadisticas/2010/07/22/inflacion-sube-primera-quincena-julio
International reserves reach another record
Sentido Comun - Banco de Mexico that international reserves last week reached a new record of $102.869 billion over the previous week after a 1.14 billion increase resulting from the sales of dollars from Pemex to the central bank.
JP Morgan Chase taps Mel Martinez for Mexico
TradingMarkets.com - JPMorgan Chase & Co. said that former Senator and HUD Secretary Mel Martinez will join the firm to be its Chairman of Florida, Mexico, Central America and the Caribbean. Martinez worked as an attorney in Orlando for 25 years.
Central bank keeps interest rate at 4.5 percent
Sentido Comun - Banco de Mexico will keep its benchmark interest rate at 4.5 percent given the good inflation performance recently as prices in recent months have risen less than expected. The bank warned, however, that the effects of inflation have been "cyclical and seasonal."
