EconomyUnifin sinks more than 80% on the stock market...

Unifin sinks more than 80% on the stock market after announcing that it will stop paying its debt

The shares of the Mexican lessor Unifin plummeted this Tuesday after informing that it will stop paying interest and capital on its debt, due to the lack of financing sources and while it reaches an agreement with its creditors with a view to a restructuring.

Close to the close of the day, the titles of Unifin Financiera, which did not specify the amounts of its obligations at stake, were trading at a historical low of 2.40 pesos, a drop of 82%.

With today's fall, Unifin erased 5,159 million pesos in market value to be left with a capitalization of 1,165 million.

The firm has been dragging debt problems for months, which is why its shares have fallen about 94% so far this year.

"As a result of this announcement, we are putting our recommendation under review," VectorAnalysis said in a note to clients.

The company detailed in a statement on Monday night that the measure will be extended for as long as it requires negotiating with the claimants, during which time, it added, it will continue to comply with the payment of obligations under private securitization structures.

Unifin also said that it "intends" to negotiate standby agreements with its creditors that will allow it to implement the restructuring, negotiate and finalize potential financing, refinancing, investment and capitalization operations.

With information from Reuters.

The good results of the third quarter lead to the BMV having its best...

The companies that stood out in the BMV were Grupo México and Grupo México Transportes, with increases of 10.88% and 11.76%; followed by Traxión, with 9.28%; Chedraui, 7.56%, and América Móvil, with 5.88%.

The Mexican stocks that have risen the most in the last 10 years

Lamosa, Gruma and GAP had the stocks that increased their value the most in the long term, meeting investors' expectations: high yield and low risk of loss.

And now what filters can help them? Snapchat shares plunge almost 30%

Shares of social media companies sank with Snapchat leading the decline, down nearly 30%.

Great news for Banorte: its shares rise for a good quarter

Banorte announced its withdrawal from the Banamex purchase process and the startup of its Bineo platform in the first quarter of 2023.

It's over? They curb Tesla's ambition to outperform Apple-Aramco on the stock market

Tesla currently has a market capitalization of $667 billion, well below the more than $4 trillion worth of Apple and Saudi Aramco combined.