Mexican Stocks: Frisco Gains; Kimberly-Clark, Mexichem Decline

The following companies are having unusual price changes in Mexico trading. Stock symbols are in parentheses and prices are as of 1:42 p.m. New York time.

The IPC index was little changed at 38,111.68.

Grupo Televisa SA (TLEVICPO MM) slipped 0.2 percent to 62.26 pesos. The world’s largest Spanish-language broadcaster had its recommendation cut to “neutral” from “overweight” at JPMorgan Chase & Co. by analyst Andre Baggio.

Kimberly-Clark de Mexico SAB (KIMBERA MM), Mexico’s biggest consumer products company, dropped 1 percent to 72.46 pesos. The company was cut to “underperform” from “outperform” at Grupo Financiero BBVA Bancomer SA by analyst Fernando Olvera, who said high pulp prices will cut into profits.

Mexichem SAB extended declines, falling the most since October, after having its recommendation cut to “neutral” from “buy” at Bank of America Merrill Lynch yesterday. Latin America’s biggest maker of plastic pipes tumbled 3.7 percent to 43.22 pesos.

Minera Frisco SAB (MFRISCOA MM), the mining company controlled by billionaire Carlos Slim, climbed 3.1 percent to 59.50 pesos. The company has gained every day since being spun off from Grupo Carso SAB.

Inmuebles Carso SAB (INCARSOB MM), the real-estate company that was part of the same spinoff, jumped 4.1 percent to 14.07 pesos. Grupo Carso SAB (GCARSOA1 MM) soared 4.3 percent to 36.30 pesos.

To contact the reporter on this story: Jonathan J. Levin in Mexico City at jlevin20@bloomberg.net

To contact the editor responsible for this story: David Papadopoulos at Papadopoulos@bloomberg.net

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