Mexico Stocks: America Movil, Elektra, OHL Mexico Are 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 0.9 percent to a record 41,273.02.
America Movil SAB (AMXL) , the wireless carrier controlled by billionaire Carlos Slim, gained 2.3 percent to 18.13 pesos. Vector Casa de Bolsa SA analyst Jorge Herrera said the company is a “speculative buy” after it broke 18 pesos, according to an e-mailed research note today.
Grupo Elektra SA (ELEKTRA*) , the retail and banking company controlled by billionaire Ricardo Salinas, jumped 6.8 percent to 636.27 pesos. Elektra has surged 56 percent since saying June 19 that it unwound some stock derivatives contracts, spurring optimism it will meet conditions to remain on the nation’s benchmark index.
OHL Mexico SAB (OHLMEX*) , the local unit of Spanish construction company Obrascon Huarte SA, climbed 1.7 percent to 19.27 pesos. OHL’s announcement that it would extend a road for the Mexican government is “positive news” because it is “indicative of the company’s good relations with the Mexico City government,” Banco Santander SA said in an e-mailed research note dated today. Santander has a buy recommendation on the company.
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