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Strategies & Market Trends : Telebras (TBH) & Brazil -- Ignore unavailable to you. Want to Upgrade?

To: Art Baeckel who wrote (21214)	8/2/2000 2:25:57 PM
From: Art Baeckel	Read Replies (1) \| Respond to of 22640

Mexican shares edge higher as Telmex recovers Reuters Company News - August 02, 2000 11:13 Copyright 2000 Reuters Limited. All rights reserved. Republication or redistribution of Reuters content is expressly prohibited without the prior written consent of Reuters. Reuters shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon. Jump to first matched term MEXICO CITY, Aug 2 (Reuters) - Mexican shares edged 1.06 percent higher in early trading Wednesday, tracking a recovery by beleaguered telecommunications giant Telmex, traders said. The IPC index of the 35 most-liquid shares added 68.8 points to 6,576.57 points, with volume hovering at 70.178 million pesos (US$7.5 million). About 2.91 million shares changed hands. "The market still hasn't managed to reach the resistance of 6,6000 points, which indicates that there is still a bit of selling and that could take the bolsa gradually to a support of 6,350 points in the coming sessions," said on trader. The L shares of Telefonos de Mexico (Telmex) , which carries a weight of 30 percent in the IPC index, led the list of gainers and most-traded shares with a 1.67 percent rally, or 40 centavos, to 24.35 pesos. Telmex ADRs in New York rose $0.625 to $52.125. Telmex shares have sunk in the past two weeks on concern for disappointing second-quarter results and a U.S. trade action against mexico that could affect the company's domination of the market. Of the 24 active shares on Wednesday, 15 rose, three fell and four remained unchanged . Shares in the world's largest Spanish-speaking media company, Grupo Televisa , also posted early gains with a 1.61 percent climb, or 50.0 centavos, to 31.5 pesos. Around 61,000 Televisa shares changed hands. The benchmark 48-hour peso contract, meanwhile, slid 1.40 centavos to 9.3580 to the dollar on dollar-buying by some investors, who sought to take advantage of the cheap rate for the U.S. greenback. On Tuesday, the IPC index ended the day almost flat at 6507.77, a scant increase of 6.44 points, or 0.10 percent. Other helpful Mexican market information: * Main percentage gainers * Main percentage decliners * Most traded shares * Market statistics * Mexican ADRs * Mexican ADRs/Bolsa equivalent * Mexican futures (MexDer) * Mexican peso * Mexican peso bids * Mexican Cetes rates * Mexican indicators forecast * Indices display * Sector display * Warrants * Buyer/Seller IDs * Brokerage characters * Detailed information * Mexican market overview * Mexican oil prices * Domestic guide * Country news 1/8MX 3/8 Other Latin American markets: * Argentina's MerVal * Brazil's Bovespa * Chile's IPSA * Peru's IGRA * Venezuela's IBC