Mexico Stocks: Cemex, Grupo Bimbo and Industrias CH Climb
The following companies had unusual price changes in Mexico trading. Stock symbols are in parentheses and prices are as of 4:00 p.m. New York time.
The IPC index climbed to a record high, advancing 0.3 percent to 37,399.47.
Cement companies and steelmakers gained after more Americans unexpectedly signed contracts to buy previously owned homes in October. The index of pending home resales jumped a record 10 percent after dropping 1.8 percent in September, the National Association of Realtors said today in Washington. Mexico sends about 80 percent of its exports to the U.S.
Cemex SAB (CEMEXCPO MM), the largest cement maker in the Americas, gained 2.7 percent to 11.79 pesos, the highest level since Nov. 8.
Industrias CH SAB (ICHB MM), the largest Mexican steelmaker, climbed 3.6 percent to 46.90 pesos.
Grupo Bimbo SAB de CV (BIMBOA MM), the world’s largest bread maker, advanced 0.9 percent to 104.41 pesos. The company has begun construction on a $200 million, 90-megawatt wind farm that will cover almost all the company’s electricity needs in Mexico, Bimbo said in an e-mailed statement.
To contact the editor responsible for this story: David Papadopoulos at Papadopoulos@bloomberg.net
Bloomberg reserves the right to edit or remove comments but is under no obligation to do so, or to explain individual moderation decisions.