Mexico Stocks: America Movil, Modelo, Industrias CH Were Active
The following companies had unusual price changes in Mexico City trading. Stock symbols are in parentheses, and prices are as of the close of trading.
The IPC index rose 0.8 percent to 37,738.58.
America Movil SAB (AMXL) , the wireless carrier controlled by billionaire Carlos Slim, slipped 0.2 percent to 16.77 pesos. America Movil agreed to buy a 21 percent stake in Telekom Austria AG (TKA) from investor Ronny Pecik, according to a filing today.
Coca-Cola Femsa SAB (KOFL) , Latin America’s biggest Coca-Cola bottler, fell 0.3 percent to 169.81 pesos. The local unit of Banco Bilbao Vizcaya Argentaria SA (BBVA) cut its recommendation on the company to the equivalent of sell from the equivalent of buy.
Grupo Modelo SAB (GMODELOC) , Mexico’s largest brewer, fell 4.5 percent to 97.71 pesos. Modelo lost a bid for a court order that would have allowed it to shield information requested by antitrust regulators, El Universal columnist Alberto Aguilar wrote today, without saying how he obtained the information. Officials at the court in Mexico City declined to comment on the case. Jennifer Shelley, a spokeswoman for Grupo Modelo, declined to comment on the El Universal report.
Industrias CH SAB (ICHB) , Mexico’s largest steelmaker, rose 0.9 percent to 60.58 pesos. Deutsche Bank AG said the stock will probably join the nation’s benchmark stock index in a rebalancing in September, according to an e-mailed research note.
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