Mexico Stocks: Homex, Geo, Urbi, Elektra Shares 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 1.6 percent to 38,688.65.
Mexican homebuilders jumped the most in five months as valuations at almost a three-year low lured investors to the industry amid speculation the U.S. Federal Reserve may announce more stimulus measures. The Habita index of six homebuilders jumped 4.2 percent to 229.67 by the close of trading.
Desarrolladora Homex SAB (HOMEX*) , Mexico’s largest homebuilder, surged 4.9 percent to 31.06 pesos. Corp. Geo SAB (GEOB), Mexico’s second-largest homebuilder, climbed 5.6 percent to 13.43 pesos. Urbi Desarrollos Urbanos SAB (URBI*) , Mexico’s third-largest homebuilder, rose 5 percent to 11.78 pesos.
Grupo Elektra SA (ELEKTRA*) , the retail and banking company controlled by billionaire Ricardo Salinas, surged 16 percent to 476.02 pesos. In filings today, Elektra said it has cut by more than a third the shares represented by the derivatives since it last disclosed the figure a year ago.
To contact the editor responsible for this story: David Papadopoulos at firstname.lastname@example.org