Mexico Stocks: Grupo Elektra, Ica, Grupo Mexico, Consorcio Ara
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 rose 0.5 percent to 39,357.81.
Grupo Elektra SA (ELEKTRA*) , the banking and retail company controlled by billionaire Ricardo Salinas, plunged the most since 1997, dropping 18 percent to 1,035.92 pesos. The stock exchange published new rules late yesterday that prevent shares that are tied up in a company’s derivative transactions from being included when calculating whether the public float reaches the minimum level of equity to be on the IPC.
Builders led Mexican stocks higher as Federal Reserve Vice Chairman Janet Yellen and New York Fed President William C. Dudley endorsed the central bank’s view that borrowing costs are likely to stay low through 2014.
Grupo Mexico SAB (GMEXICOB) , the country’s largest mining company, rose 2.3 percent to 40.02 pesos. Copper prices advanced today on speculation that slower economic growth will prompt policy makers to add more stimulus measure in China, the world’s biggest metals consumer.
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