Mexican Stocks: Alfa, Cemex Shares Decline; Kimberly-Clark Gains
Stock Chart for Kimberly-Clark de Mexico SAB de CV (KIMBERA)
The following companies are having unusual price changes in Mexico trading. Stock symbols are in parentheses and prices are as of 10:39 a.m. New York time.
The IPC index added 0.4 percent to 37,772.05. In the previous session, the gauge jumped the most since Nov. 24.
Retail and consumer goods: Companies in the U.S. added more workers than forecast to payrolls in January, showing a pickup in the labor market, according to figures from ADP Employer Services. Mexican growth is tied to the U.S., which buys about 80 percent of its exports.
Kimberly-Clark de Mexico SAB (KIMBERA MM), Mexico’s biggest consumer products company, advanced 1.8 percent to 69 pesos. Wal-Mart de Mexico SAB (WALMEXV MM), Latin America’s largest retailer, added 1.4 percent to 34.76 pesos.
Alfa SAB (ALFAA MM), the world’s largest producer of aluminum engine heads, fell 1.1 percent to 141.31 pesos. The company had its recommendation cut to “neutral” from “buy” at UBS AG by analyst Marimar Torreblanca, who said the stock’s rally since September made it unlikely that it would continue to surge in 2011. Fourth-quarter profit rose 28 percent, according to a report that sent the stock soaring yesterday the most since September 2009.
Cemex SAB (CEMEXCPO MM) declined for the fifth time in seven days, slipping 0.7 percent to 11.44 pesos. Egyptian President Hosni Mubarak sought to reclaim Cairo’s streets as his supporters clashed with protesters demanding the president’s ouster, and leading rival Mohamed ElBaradei called on the army to step in. The Middle East and Africa, led by Egypt, accounted for 7.5 percent of the cement maker’s revenue in 2009. The company will report fourth-quarter earnings tomorrow.
Empresas ICA SAB (ICA* MM) gained 0.5 percent to 31.60 pesos. The country’s biggest construction company sold $400 million of 10-year bonds, an increase from earlier plans to sell $300 million, according to data compiled by Bloomberg.
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