Mar 11, 2005

Another Commodity Stock becomes a Standard Bearer

So just a few short weeks after Exxon Mobile (XOM) took the top slot away from General Electric (GE), CVRD, the Brazilian iron company, became the largest company in Latin America by market cap.

From the FT($$),
CVRD, the world's largest iron ore producer, has surpassed America Movil, the Mexican cellular telephone company, to become Latin America's most valuable listed company.

The company's market capitalisation this week stood at $37.5bn, ahead of America Movil with $34.9bn, according to a ranking published this week by Economática, a São Paulo-based financial consultancy.

Just pointing out an obvious trend but it never hurts to log the landmark days.

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