Feb. 7 (Bloomberg) -- Mexico's Bolsa rose for the first time in three days as investors bought shares that have declined the most in a global selloff and construction companies rallied on a plan to increase spending on roads, ports and dams.
``Long-term investors are accumulating shares of some of these companies that have fallen to good levels,'' said Gerardo Copca, equity analysts at Metanalisis in Mexico City.
The Bolsa index of 35 most-traded shares rose 159.03, or 0.6 percent, to 28,088.32.
Construction company Impulsadora del Desarrollo y el Empleo en America Latina SA, controlled by billionaire Carlos Slim, rose the most since Jan. 23, gaining 7.5 percent to 14.83 pesos. Slim had joined President Felipe Calderon for the announcement of the $3.7 billion infrastructure fund yesterday
Empresas ICA SAB, Mexico's largest construction company, rose 1 percent to 66.25 pesos. Cemex SAB, North America's largest cement maker, rose for the first time in three days, gaining 1 percent to 27.69 pesos, paring its loss for the past 12 months to 31 percent.
Importance: Mexico must be doing something right, or at least its construction industry must, as it is showing economic increase where everywhere else is showing the steady road to a recession. Is this a fluke rise, or genuine economic increase? Only time will tell...
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