Mexico Stocks: Homex, Axtel Gain; Bimbo, Soriana Decline

The following companies are having unusual price changes in Mexico trading. Stock symbols are in parentheses and prices are as of 1:17 p.m. local time.

The IPC index rose 0.2 percent to 38,226.58.

Stocks advanced after applications for jobless benefits in the U.S. last week unexpectedly dropped, adding to evidence the labor market is recovering in the country that buys 80 percent of Mexico’s exports.

Desarrolladora Homex SAB (HOMEX*) , Mexico’s largest homebuilder, gained 2.9 percent to 46.76 pesos. Corp. Geo SAB (GEOB) , the second largest, rose 1.9 percent to 22.27 pesos.

Axtel SAB (AXTELCPO) , Mexico’s second-largest land-line phone company, climbed 4.6 percent to 4.77 pesos, the biggest gain on a closing basis since Dec. 16.

Food producers and retailers fell after a government report showed annual inflation quickened more than economists forecast last month. Consumer prices rose 0.71 percent in January, led by a surge in agricultural and livestock costs, pushing the annual rate to 4.05 percent from 3.82 percent in December.

Organizacion Soriana SAB (SORIANAB) , Mexico’s second- biggest grocery store chain, dropped 1.1 percent to 33.58 pesos. Grupo Bimbo SAB (BIMBOA) , the world’s largest bread maker, fell 0.3 percent to 28.29 pesos.

To contact the reporter on this story: Christine Jenkins in New York at cjenkins28@bloomberg.net;

To contact the editor responsible for this story: David Papadopoulos at papadopoulos@bloomberg.net

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