The following companies are having unusual price changes in Mexico trading. Stock symbols are in parentheses and prices are as of 11:16 a.m. New York time.
The IPC index rose 0.4 percent to 37,927.75. Mexico’s economy will expand at least 4 percent this year, according to a document posted late April 1 on the Finance Ministry’s website.
Industrias CH SAB (ICHB MM), the largest Mexican steelmaker, gained 1.3 percent to 48.71 pesos. Mexico’s manufacturing index may climb to 53.5 in March from 52.9 the previous month, according to the median forecast of five economists surveyed by Bloomberg. The Mexican Institute of Financial Executives, or IMEF, is due to report the figure later today.
Miners: Silver for May delivery in New York gained 2 percent to $38.48 an ounce, near the highest level since February 1980, the year futures reached a record $50.35.
Industrias Penoles SAB (PE&OLES* MM), Mexico’s largest silver producer, advanced 1.3 percent to 437 pesos. Minera Frisco SAB (MFRISCOA MM), the mining company controlled by billionaire Carlos Slim, climbed 1.4 percent to 52.50 pesos.
Organizacion Soriana SAB (SORIANAB MM), Mexico’s second- largest grocery store chain, slipped 0.9 percent to 41.90 pesos. Soriana’s same-store sale may have dropped 1.7 percent in the first quarter of 2011, from the same period last year, according to a note Goldman Sachs Group Inc. e-mailed to clients, which cited increased competition and a “soft consumer environment.”
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