Mexico Stocks: Femsa, Gruma Shares Decline as Ica Advances
The following companies had unusual price changes in Mexico trading. Stock symbols are in parentheses and prices are as of the close of trading.
The IPC index fell 0.2 percent to 37,184.71.
Mexican stocks followed New York equities lower after the U.S. economy expanded less than economists forecast in the fourth quarter as spending at retailers lost momentum. The U.S. is the destination for 80 percent of Mexico’s exports.
Gruma SAB (GRUMAB) , Mexico’s largest maker of corn flour for tortillas, fell 1.1 percent to 27.50 pesos. Fomento Economico Mexicano SAB (FEMSAUBD) , the owner of Latin America’s largest Coca-Cola bottler, dropped 1.4 percent to 90.09 pesos.
Construction and homebuilding: Construction of residential real estate climbed at an 11 percent annual rate in the U.S., the best performance since the second quarter of 2010.
Empresas ICA SAB (ICA*) , the country’s biggest construction company, added 4.5 percent to 21.30 pesos. Corp. Geo SAB (GEOB) , Mexico’s second-largest homebuilder, climbed 0.8 percent to 21.20 pesos.
Banregio Grupo Financiero SAB (GFREGIO) (GFREGIO MM), the Mexican commercial bank, jumped 7.2 percent to 31.67 pesos after it reported fourth-quarter operating income that exceeded analysts’ forecasts.
To contact the reporters on this story: Christine Jenkins in New York at cjenkins28@bloomberg.net; 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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