Mexico Stocks: Consorcio Ara, Inmuebles Carso, Grupo Mexico Gain
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 climbed 0.9 percent to 35,917.80.
Retailers and homebuilders advanced after initial jobless claims in the U.S., Mexico’s biggest export market, decreased below 400,000 for the first time since April. Separately, Mexico said it would allow its pension funds to invest a greater portion of their portfolios in stocks, according to an announcement yesterday in the nation’s official gazette.
Grupo Elektra SA (ELEKTRA* MM), the retail and banking company controlled by billionaire Ricardo Salinas, jumped 5.6 percent to 821.67 pesos. Wal-Mart de Mexico SAB (WALMEXV MM), Latin America’s largest retailer, advanced 2.4 percent to 31.80 pesos. Desarrolladora Homex SAB (HOMEX* MM), Mexico’s largest homebuilder, climbed 3.9 percent to 50.13 pesos.
Consorcio Ara SAB (ARA* MM), Mexico’s fourth-largest homebuilder, climbed 1.3 percent to 6.07 pesos. The company said second-quarter net income rose 11 percent to 221.2 million pesos ($19 million), according to a filing with the Mexican stock exchange.
Inmuebles Carso SAB (INCARSOB MM), the real-estate company controlled by billionaire Carlos Slim, advanced 0.6 percent to 11.51 pesos before its quarterly earnings report. The company reported second-quarter profit of 381 million pesos, according to a filing today after the market had closed.
Grupo Mexico SAB (GMEXICOB MM) gained 1.5 percent to 43.38 pesos. The country’s largest mining company had its debt outlook raised to positive from stable by Standard & Poor’s, which cited resumed operations at the Buenavista mine, according to an e- mailed statement.
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