Mexico Stock: Alpek, Gruma, Elektra, Genomma Shares Were Active
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 0.4 percent to 39,212.16.
Alpek SAB (ALPEKA) , Mexico’s biggest petrochemical company, climbed 1.5 percent to 27.92 pesos. The shares debuted today after being sold for 27.50 pesos each, the bottom end of the target range, in an initial public offering yesterday.
Grupo Elektra SA (ELEKTRA*) , the retail and banking company controlled by billionaire Ricardo Salinas, tumbled 4.9 percent to 814.25 pesos, the lowest since Aug. 10, 2011. The shares are down 35 percent since April 11, when the Mexican stock exchange published new rules that may cut the company’s weight in the benchmark index.
Genomma Lab Internacional SAB (LABB) , the Mexican producer of over-the-counter drugs, climbed 3.4 percent to 22.62 pesos. The board met yesterday and confirmed its commitment to pursuing an acquisition of Prestige Brand Holdings Inc. for $16.60 a share, Chief Executive Officer Rodrigo Herrera said today in a conference call.
Gruma SAB (GRUMAB) , Mexico’s largest maker of corn flour for tortillas, tumbled 8 percent to 35.84 pesos. Gruma’s net income fell 98 percent to 83.9 million pesos ($6.4 million) from the year-earlier period.
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