Reuters - Mexico is planning to launch derivatives rules this year in sync with its northern neighbor but is concerned an overly tough regime could push trades into the United States where they are subject to less oversight, Mexico's chief bank regulator said.Markets & Data
While most companies struggled, some gained big profits
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.
2009 marked by restructuring and debt bond issues
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.
www.cnnexpansion.com/negocios/2009/12/11/empresas-cierran-2009-colocando-deuda
Mexico still in recession despite recovery signs, says Inegi
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).
www.elfinanciero.com.mx/ElFinanciero/Portal/cfpages/contentmgr.cfm
IMSS registers 106,155 more workers, reversing trend
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.
Fixed investment fell 1.1 percent in September
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.
Stocks slip, peso firms versus dollar
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.
Iusasell announces decision to delist from market
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.
Genomma Lab predicts 42-45% growth in 2010
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.
Carstens sees no interest rate hikes for awhile
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.
Cemex sells $2.1 billion in bonds
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.
