Rob, hello. Happy New Year. I bought some more CEL on Wednesday and have been looking for an earnings report date. Have you seen one? I think subscriber growth and earnings should be pretty strong.
Friday January 7, 10:06 am Eastern Time
Mexican shrs rise, telcos up after mixed U.S. data
MEXICO CITY, Jan 7 (Reuters) - Mexican stocks rose at the open on Friday, with the telecommunications sector pushing higher while the market digested strong U.S. employment data in search of a hint on the future of U.S. interest rates.
* The IPC index (^MXX - news) of leading shares was up 75.31 points, or 1.12 percent, at 6826. The Dow Jones industrial average, a lead for Mexico, rose 0.70 percent to 11,332.
* ``The market is combing the U.S. data for clues,' said one trader from a local bank. ``They weren't that clear.'
* U.S. December non-farm payrolls grew 315,000, above the average forecast of 224,000, while the unemployment rate was unchanged at 4.1 percent, matching market expectations.
* Average hourly earnings in the U.S., a key gauge that reflects building inflation, rose 0.4 percent, above the consensus forecast of a 0.3 percent increase.
* ``The wage side was higher, but on the other hand the U.S. labor market seems to be kept tight,' one trader said.
* Another factor underpinning Mexican shares was a Moody's outlook shift to positive from stable on the country's local currency-denominated government bonds.
* Moody's said the upgrade recognizes Mexico's efforts for sticking to sound fiscal policies in an election year. Mexicans will vote for president in July.
* Bellwether Telefonos de Mexico (Telmex) advanced 0.45 pesos, or 0.90 percent, to 50.20 pesos per L share , while its ADRs (NYSE:TMX - news) rose 1-1/8 to 105-1/8 on Wall Street.
* Late on Thursday, Telmex said it had backed off a plan to bill for local telephone calls by the minute and would leave its current pricing scheme intact for 2000.
* Carso Global Telecom , a telecommunications investment firm, was the top gainer, rising 3.60 pesos, or 4.12 percent, to 91 pesos.
* Mexico's telecommunication and media index (^MXXT - news) was up 1.28 percent at 29,437.55. |
