The following companies are having unusual price changes in Mexico trading. Stock symbols are in parentheses, and prices are as of 11:55 a.m. in Mexico City.
The IPC index rose 0.9 percent to 39,872.73.
Genomma Lab Internacional SAB (LABB) , the Mexican producer of over-the-counter drugs, climbed 1.1 percent to 23.57 pesos as UBS AG reiterated its buy recommendation. A research note dated today from Marimar Torreblanca, an analyst in Mexico City, said it “is trading at a very attractive level,” whether or not Prestige Brands Holdings Inc. accepts Genomma’s unsolicited bid.
Banregio Grupo Financiero SAB (GFREGIO) (GFREGIO MM), the Mexican bank that held an initial public offering last year, climbed 2.8 percent to 35.88 pesos. Citigroup Inc.’s Banamex unit reiterated its buy recommendation on Banregio, saying it’s among the “best positioned” banks to benefit from an increase in credit to small and medium-sized businesses.
Industrias Penoles SAB (PE&OLES*) (PE&OLES* MM), Mexico’s largest silver producer and a miner of gold, climbed 2 percent to 633 pesos. Gold advanced after economic reports signaled improving demand in China and the U.S. Silver also climbed.
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