Mexico Stock Movers: Sare, Pochteca, Bio Pappel Were Active
Stock Chart for Bio Pappel SAB de CV (PAPPEL*)
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 fell 0.5 percent to 39,831.65.
Bio Pappel SAB (PAPPEL*) rose 8.5 percent to 7.81 pesos after earlier climbing as much as 13 percent. The company said a member of its control group acquired 23 million shares in the second quarter, according to a statement sent to the Mexican bourse yesterday.
America Movil SAB (AMXL) fell 0.4 percent to 17.25 pesos. The company’s Telmex unit lost a lawsuit seeking to force the government to grant it a license to offer pay-TV service, El Universal newspaper columnist Maricarmen Cortes wrote, citing the Communications and Transportation Ministry’s legal director, Gerardo Sanchez Henkel.
Grupo Pochteca SAB (POCHTECB) soared 18 percent to 3.17 pesos, extending its two-day rally to 33 percent. Antonio del Valle, who invested in a 300 million peso capital increase for Pochteca in April, said in a June 21 telephone interview that the company would pursue acquisition-driven growth.
Sare Holding SAB (SAREB) fell 9 percent to 1.48 pesos after tumbling as much as 14 percent, the most since February, after the company said it will “defend shareholders’ interests” after a private equity company announced plans to make a bid for the builder.
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