Mexican Stocks: Bolsa, Televisa Rise; Corp. Geo, Kimberly Drop
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 rose 0.8 percent to 37,522.30.
Bolsa Mexicana de Valores SAB (BOLSAA MM), the operator of Mexico’s securities exchange, gained 1.5 percent to 24.86 pesos. The exchange’s derivatives unit will offer contracts for corn, gas, oil and wheat traded by CME Group Inc. in April, Jorge Alegria, the chief executive officer of Mexico’s Derivatives Exchange, said yesterday.
Corp. Geo SAB (GEOB MM), the second-largest homebuilder in Mexico, dropped 5.1 percent to 36.41 pesos. JPMorgan Chase & Co. cut the company’s rating to “neutral” from “overweight” and set a 12-month target of 43 pesos per share.
Grupo Televisa SA (TLEVICPO MM), the largest Spanish- language broadcaster in the world, rose 2.4 percent to 59.49 pesos. Fourth-quarter profit more than doubled to 2.62 billion pesos as the company signed up more customers for satellite and cable television, the company said yesterday in an e-mailed statement.
Kimberly-Clark de Mexico SAB (KIMBERA MM), the largest maker of consumer goods in Mexico, declined 0.4 percent to 72.84 pesos. Fourth-quarter net income was 1.2 billion pesos, the company said in a statement to the stock exchange today.
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