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Technology Stocks : Nuevo Grupo Iusacell (CEL) -- Ignore unavailable to you. Want to Upgrade?

To: Rob Preuss who wrote (73)	7/3/2000 12:11:07 PM
From: Rob Preuss	Respond to of 206

Mexican ADRs applaud Fox’s victory By tomi kilgore, cbsmarketwatch.com Last Update: 11:38 AM ET Jul 3, 2000 NEW YORK (CBS.MW) - The American Depository Receipts of Mexican-based companies rallied on Monday after Mexican President Ernesto Zedillo conceded Vicente Fox’s victory on Sunday, ending a 71-year lock on the country’s presidency by the Institutional Revolutionary Party, the Associated Press reported. Telefonos de Mexico S.A. (TMX:) surged 4 13/16 to 62, Grupo Televisa (TV:) rallied 5 9/16 to 74 1/2, Cemex S.A. de C.V. (CX:) tacked on 1 1/2 to 24 13/16, TV Azteca S.A. de C.V. (TZA:) climbed 1 to 14 3/16 and Grupo Iusacell (CEL:) advanced 1/2 higher to 16 1/3. Analyst John Mullin at ABN-Amro said in a research note that he was raising Mexico to a 400 basis-point overweight from a 200 basis-point underweight, as the post-election rally is expected to be “substantial.” Also, Mullin believes Standard and Poor’s will soon move to raise its rating on the country. Vicente Fox, a former Coca-Cola (KO:) executive and member of the National Action Party, beat out the governing party’s Francisco Labastida, promising to fight corruption, improve education and help the poor, said the report. A Fox-led government was welcomed by the European Union, as a new Europe-Mexico free trade agreement became effective over the weekend, according to the Associated Press report. The agreement looked to phase out tariffs on over 95 percent of trade between them. Until Fox’s victory, the PRI, as the Institutional Revolutionary Party is known, held the distinction as the world’s longest governing party.