Markets & Data
La Jornada - A select group of 17 major Mexican companies ended the third quarter with an increase in earnings of almost 49 billion pesos ($3.82 billion). Santander Financial Group analysts found that while the vast majority of Mexican companies struggled to stay afloat, others managed to achieve big increases in their profits.
CNNExpansión.com - The year 2009 was marked by restructuring and debt bond issues by companies listed on the Bolsa Mexicana de Valores (BMV), including Cemex, Homex, Televisa, Sigma Alimentos and even Infonavit.
El Financiero - The first signs of Mexico's recovery appeared in May, but subsequent data, especially employment statistics, indicates that the country is not yet out of the recession, said Eduardo Sojo Garza Aldape, president of the National Institute of Statistics and Geography (Inegi).
Sentido Comun - The Mexican Social Security Institute (IMSS) said the number of registered workers in November increased by 106,155, reversing a decrease in employees throughout the first 10 months of the year.
Sentido Comun - Fixed investment fell 1.1 percent in seasonally adjusted terms in September compared to August, the first decline in four months and a symptom of the fragility of economic recovery.
Dow Jones - A Mexican stock rally ran out of steam Friday and shares closed fractionally lower, while the peso gained against the dollar with investors encouraged by positive U.S. economic data. The IPC index slipped 0.05 percent, or 14.91 points, to close at 31,901.69. The peso closed at 12.8830, compared with 12.9325 Thursday.
Dow Jones - Mexican mobile phone company Grupo Iusacell said Friday it plans to delist its shares from the Mexican stock market to cut costs. The company, controlled by media and retail businessman Ricardo Salinas Pliego, called a shareholders meeting for Dec. 30 to vote on the proposal.
Dow Jones - Mexican over-the-counter pharmaceuticals company Genomma Lab Internacional said Friday it expects its sales to grow between 42 percent and 45 percent in 2010. Bigger sales of existing brands and the introduction and acquisition of new brands contributed to the company's expansion this year.
Reuters - Mexico's central bank will not be under pressure to raise interest rates for a substantial period of time, Agustin Carstens, the nominee to take over the Banco de Mexico said on Thursday. His comments added to views among investors that Carstens is likely to take more time to raise interest rates than would have been the case under outgoing Gov. Guillermo Ortiz.
Reuters - Mexico's Cemex, the world's No. 3 cement company, sold around $2.1 billion in bonds on Wednesday in a sign of fresh investor confidence after the company avoided default this year. Cemex aims to use the debt to pay off its banks and free itself from spending limits imposed by creditors following a $15 billion refinancing deal in August.