Mexico Stocks: America Movil, Elektra, Walmex Shares Are Active
The following companies are having unusual price changes in Mexico City trading. Stock symbols are in parentheses, and prices are as of 2:38 p.m. local time.
The IPC index fell 0.9 percent to 38,607.77.
Grupo Elektra SA (ELEKTRA*) , the retail and banking company controlled by billionaire Ricardo Salinas, climbed 1.5 percent to 535.15 pesos. The shares have climbed 31 percent since the company announced before markets opened on June 19 that it had unwound some equity derivative positions, increasing its percentage of floating shares and buoying optimism it would remain on the nation’s benchmark index.
America Movil SAB (AMXL) , the wireless carrier controlled by billionaire Carlos Slim, fell 0.3 percent to 17.45 pesos. The company more than doubled its stake in Royal KPN NV to 21 percent, according to a filing to the Mexican stock exchange today.
Wal-Mart de Mexico SAB (WALMEXV MM), Latin America’s largest retailer, fell 4.7 percent to 34.72 pesos. Wal-Mart Stores Inc. (WMT)’s Mexico subsidiary will open between 325 and 335 locations in Mexico and Central America this year, down 23 percent from its previous estimate of as many as 436, according to a statement to the Mexican stock exchange yesterday.
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