Mexican Stocks: Bimbo, Cemex Decline; Comercial Mexicana Gains
Stock Chart for Cemex SAB de CV (CEMEXCPO)
The following companies had unusual price changes in Mexico trading. Stock symbols are in parentheses and prices are as of 4 p.m. New York time.
The IPC index fell 0.2 percent to 38,172.91.
Cemex SAB (CEMEXCPO MM), the largest cement maker in the Americas, broke a four-day rally, declining 1.4 percent to 13.18 pesos. The Commerce Department reported today that the economy in the U.S., Cemex’s second-largest market, expanded at a slower-than-forecast pace in the third quarter.
Consumer-goods companies also fell on the report.
Grupo Bimbo SAB de CV (BIMBOA MM), the world’s largest bread maker, sank 0.7 percent to 104.61 pesos.
Kimberly-Clark de Mexico SAB de CV (KIMBERA MM), the nation’s biggest consumer products company, dropped 1.5 percent to 74.86 pesos.
Controladora Comercial Mexicana SAB (COMERUBC MM), a Mexican supermarket chain, climbed 3.1 percent to 14.33 pesos, the highest closing price since the company’s 2008 default. Investors are optimistic about the “cheap” stock after the company reached a restructuring deal last month, said Jorge Lagunas, who manages about $200 million at Mexico City-based Grupo Financiero Interacciones SA.
-- With assistance by Andres R. Martinez in Mexico City. Editor: Glenn J. Kalinoski, Brendan Walsh
To contact the editor responsible for this story: David Papadopoulos at Papadopoulos@bloomberg.net
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