Mexico Stocks: Kimberly-Clark, Gruma, Axtel Shares Retreat

The following companies are having unusual price changes in Mexico trading. Stock symbols are in parentheses and prices are as of 11:58 a.m. local time.

The IPC index rose 0.3 percent to 36,671.22.

Consumer-driven companies slipped after the Group of 20 failed to agree on boosting the International Monetary Fund’s resources.

Kimberly-Clark de Mexico SAB (KIMBERA MM), Mexico’s biggest consumer-products company, fell 1.2 percent to 73.97 pesos. Wal- Mart de Mexico SAB (WALMEXV MM), Latin America’s largest retailer, fell 0.8 percent to 34.64 pesos.

Axtel SAB (AXTELCPO MM), Mexico’s second-largest land-line phone company, fell 1.2 percent to 4.25 pesos. Risk aversion is exacerbating losses after Axtel lowered its free cash-flow projection to negative $15 million-to-$20 million in 2011, down from a previous forecast to break even, according to Martin Lara, an analyst at Corp. Actinver SAB in Mexico City.

To contact the reporter on this story: Jonathan J. Levin in Mexico City at

To contact the editor responsible for this story: David Papadopoulos at

Press spacebar to pause and continue. Press esc to stop.

Bloomberg reserves the right to remove comments but is under no obligation to do so, or to explain individual moderation decisions.

Please enable JavaScript to view the comments powered by Disqus.