"THE ONLY THING NECESSARY FOR THE TRIUMPH OF EVIL IS FOR GOOD MEN TO DO NOTHING"
--Burke

Wednesday, September 23, 2009

Grupo Mexico stock surges and the PESO firms as Vendata offers to cap ASARCO's owner's liabilities....

Carlyle Group owns 20% of Grupo Mexico.  For more info. on Carlyle's relationships in the Paso del Norte region do a google search on "Carlyle" in this blog's search engine.

"MEXICO CITY, Sept 22 (Reuters) - Shares in miner Grupo Mexico surged on Tuesday after a proposal from a rival in its bidding war to gain control of bankrupt U.S. copper miner Asarco LLC capped the Mexican firm's potential liabilities. Shares in Grupo Mexico (GMEXICOB.MX) gained 7.34 percent to 25 pesos as the IPC stock index.... The peso MXN=MEX01 firmed 0.55 pct to 13.31 per U.S. dollar as the greenback hit a 1-year low against the euro and weakened broadly against emerging market currencies ahead of the start of a two-day Federal Reserve monetary policy meeting." Grupo Mexico soars on Asarco outlook; peso firms  Reuters

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