Mexican Stocks: Telmex Retreats; Penoles Advances

(Corrects spelling of company name in headline.)

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 dropped 0.5 percent to 35,639.38.

Industrias Penoles SAB (PE&OLES* MM), Mexico’s second- largest mining company, climbed 0.8 percent to 437.23 pesos. Silver futures for July delivery rose as much as 1.4 percent to $38.395 an ounce on the Comex in New York.

Telefonos de Mexico SAB (TELMEXL MM) retreated 6.4 percent to 10.17 pesos. Mexico’s biggest phone company had its request for a license to offer pay-TV service rejected by the government, according to a statement e-mailed after markets closed on May 27 from the Communications and Transportation Ministry.

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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