Grupo Carso posts strong earnings, shares rise over 14% in July

Grupo Carso, the conglomerate owned by Carlos Slim, led the Mexican Stock Exchange (BMV) in July with a 13.44% gain, closing at 148.26 pesos per share. The rally followed the company's second‑quarter report that showed revenue of 48.194 billion pesos, up 3.9% year‑on‑year, and a 10.6% increase in net profit to 2.964 billion pesos, driven by its Sanborns retail chain and the Zamajal oil division.

Analysts on Bloomberg set a 12‑month price target of 130 pesos, while the stock traded around 149 pesos, roughly 14.7% above that forecast. The consensus recommendation remains a “hold.” Other Slim‑family listed firms, América Móvil and Inbursa, still lag behind their own targets. The broader market saw the BMV index slip 0.04% to 66,937 points, while U.S. indices posted modest gains.

The strong performance underscores investor confidence in Grupo Carso’s diversified operations and its ability to deliver earnings growth despite a challenging macro environment.