Fomento Economico Mexicano SAB (ADR) (FMX) was Upgraded by HSBC Securities to ” Buy”. Earlier the firm had a rating of “Hold ” on the company shares. HSBC Securities advised their investors in a research report released on Aug 10, 2016.
Fomento Economico Mexicano SAB (ADR) opened for trading at $89.53 and hit $91.8196 on the upside on Monday, eventually ending the session at $91.46, with a gain of 2.32% or 2.07 points. The heightened volatility saw the trading volume jump to 5,50,858 shares. Company has a market cap of $163,632 M.
Fomento Economico Mexicano S.A.B. de C.V. (FEMSA) is a holding company. The Company conducts its operations through principal holding companies each of which it refers to as a principal sub-holding company. These companies are Coca-Cola FEMSA S.A.B. de C.V. (Coca-Cola FEMSA) which engages in the production distribution and marketing of beverages and FEMSA Comercio S.A. de C.V. (FEMSA Comercio) which operates small-format stores and CB Equity LLP (CB Equity) which holds its investment in Heineken N.V. and Heineken Holding N.V. The Company’s Coca-Cola FEMSA produces markets sells and distributes Coca-Cola trademark beverages through standard bottler agreements in certain territories in the countries in which it operates. Coca-Cola FEMSA also sells bottled water products in bulk sizes. FEMSA Comercio operates a chain of small-format stores in Mexico.