Mexican Stocks: America Movil, Grupo Modelo, Industrias Penoles
The following companies are having unusual price changes in Mexico trading. Stock symbols are in parentheses and prices are as of 11:57 a.m. New York time.
The IPC index rose 0.6 percent to 34,538.58.
Industrias Penoles SAB (PE&OLES* MM), Mexico’s largest silver producer, gained 1 percent, its first advance in three days, to 580 pesos as silver for December delivery rose 0.6 percent to $40.39 an ounce.
Retail sales in Mexico during July rose 3.1 percent, less than the 3.9 percent average of a Bloomberg survey of 12 economists. “While retail sales disappointed and was below consensus, they continued a healthy expansion,” Nomura Holdings strategist Benito Berber wrote in a note to clients today. “There is still a lot of room for credit to grow, which eventually will support domestic consumption.”
Grupo Modelo SA (GMODELOC MM), Mexico’s largest beer maker, advanced 3.1 percent to 80.20 pesos.
America Movil SAB (AMXL MM), the largest wireless carrier in the Americas by subscribers, rose 1.3 percent to 15.73 pesos.
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