It operates five bingo halls and will launch a lottery as well

Mexico: Televisa stock grows after its incursion into the games of chance business

2007-01-10
Reading time 28 seg

This was the currency's second straight session of losses after a surprisingly strong U.S. jobs report on Friday dashed hopes for a near-term interest rate cut by the U.S. Federal Reserve.

Steady U.S. rates lead yield-hungry investors to favor safe-haven Treasuries at the expense of riskier emerging market assets, such as those in Mexico.

In stock trading, shares in leading broadcaster Televisa jumped 3.77 percent to us$ 5.6 after Merrill Lynch raised its 12-month price objective for the company to us$ 3.1 from us$ 2.65 to incorporate the company's gaming operations. "Televisa remains one of top picks in Latam media due to a benign competitive environment, high returns on capital and attractive valuation," Merrill said in a report.

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