Coca-Cola Co. jumped the most in more than four years after reporting first-quarter profit that topped analysts’ estimates and announcing a deal to sell some bottling distribution rights in North America.
Antonio del Valle, the billionaire investor behind chemical maker Mexichem SAB’s 87-fold stock rally over the past decade, said he can turn around the biggest loser in his holdings by buying companies in the fragmented chemical distribution market.
Grupo Pochteca SAB, the chemical distributor controlled by the family of billionaire Antonio del Valle, posted its biggest two-day rally in three years on optimism the company’s expansion plan will bolster profits.
HSBC Holdings Plc’s Mexican branches had become so well-known to drug traffickers as the place to launder proceeds from illicit sales that cartels began using special boxes to speed transactions, U.S. prosecutors said.
Iberdrola SA Chief Executive Officer Ignacio Galan faced renewed criticism from his biggest investor, which analysts say may be plotting to undo the international expansion he carried out at the Spanish utility.
Mexichem SAB, the chemicals maker that has bought more than 15 companies since 2007, will seek to develop Mexico’s first shale-gas projects if the country sells licenses that would bypass a monopoly on fossil fuels.