Mexico Equity Movers: Axtel, Industrias Penoles, Consorcio Ara

IPC dropped 1.5% at the close of trading, with 7 companies rising and 27 falling.

* Axtel (AXTELCPO MM) -7.3%; lowered to sell from hold by Actinver * Consorcio Ara (ARA* MM) -8.7%; Mexico’s National Housing Commission has no plans to address working capital concern among homebuilders * Industrias Penoles (PE&OLES* MM) -4.5%; reported 2Q net income of 2.2b pesos vs. 3.9b pesos est. by Vector Casa de Bolsa * Urbi Desarrollos Urbanos (URBI* MM) -13%; posted 2Q loss on July 27 and forecast neutral cash flow for next six quarters

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To contact the editor responsible for this story: Brendan Walsh at bwalsh8@bloomberg.net

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