Mexican, Brazilian stocks down as US bailout Is debated

Mexican, Brazilian stocks down as US bailout Is debated
Published: 24 September 2008

Mexican equities fell Monday, with investors cautiously assessing the US government proposal seeking to end to the financial crisis that has gripped the global credit markets (reports Dow Jones newswires).

In Mexico City, the IPC dropped 1.5% to 25,323.40. Cemex shares fell 2.4%. Zacks Investment Research analyst Claudio Freitas kept a sell rating on the cement maker, citing the company’s weak quarterly results and continued weak cement volumes in Spain, the US and Mexican markets. "We believe that the recent takeover of the Venezuela subsidiary by the government is also troublesome," said Freitas.