Mexican stocks ended the year at a record high on Wednesday, led by gains in blue chip cell phone company America Movil after news late Tuesday it had swapped its stake in computer retailer CompUSA Inc.
The IPC benchmark stock index rose 0.27 percent to end at 8,795.28 after touching an intraday high of 8,805.37 points in lazy holiday volume of 21 million shares, benefiting from last minute buying by investment funds, traders said.
Mexico's top mobile phone company America Movil rose 0.72 percent to finish at 15.46 pesos, and its American Depository Receipt (ADR) added 0.26 percent to $27.34.
The IPC stock index gained 2.81 percent for December, ending the year with a 43.55 percent return measured in pesos and a 32.48 percent return in dollars.
Among the best-performing Mexican stocks in 2003 were silver producer Industrias Penoles, which added close to 152 percent, and copper miner Group Mexico which surged close to 169 percent, both benefiting from a rebound in metals prices Market blue chip TV Azteca, Mexico's No 2 broadcaster, and America Movil were also among the top performers for the year.
TV Azteca's stock ended the year nearly 133 percent stronger, while its American Depository Receipt (ADR) jumped close to 90 percent.
America Movil's stock surged nearly 106 percent during the year as the company bought smaller operations throughout Latin America. Its ADR rose about 90 percent in 2003.
Comments
Comments are closed.