21 July, 2006

Mexico: Grupo Modelo share price rose by 6.26%

Stocks of Grupo Modelo, which brews Corona beer, rose 6.26 percent to 46 Mexican pesos. The company this week announced a new U.S. beer import joint venture, which it said would boost earnings from 2007, Reuters communicated July 19.

The IPC index of Mexican leading shares rose 4.03 percent before easing back to a 3.83 percent gain at 19,609 points, with brewer Modelo driving the advance.

Founded in 1925, Grupo Modelo is the leader in the production, distribution, and sale of beer in Mexico. It has seven breweries in Mexico, with an installed capacity of 46 million hectoliters of beer per year. Modelo exports five brands to more than 150 countries and is the exclusive importer in Mexico of the beers produced by the US brewer Anheuser-Busch, including Budweiser and Bud Light.

The Indice de Precios y Cotizaciones, or IPC index, consists of the 35 most representative stocks chosen every two months.

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