Bloomberg Anywhere Login

Bloomberg

Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.

Company

Financial Products

Enterprise Products

Media

Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000

Communications

Industry Products

Media Services

Follow Us

Mexico Stocks: Elektra, Vitro, Wal-Mart de Mexico Shares Fall

Nov. 23 (Bloomberg) -- The following companies had unusual price changes in Mexico trading. Stock symbols are in parentheses and prices are as of 4:00 p.m. New York time.

The IPC index fell 1.2 percent to 36,271.83, declining for the first time in five days.

Retailers fell after September retail sales missed forecasts, climbing 4.1 percent from the same month a year earlier. Economists had forecast an increase of 4.6 percent, according to the median estimate of 12 analysts surveyed by Bloomberg.

Grupo Elektra SA (ELEKTRA* MM), the retail and banking company controlled by billionaire Ricardo Salinas, broke a four-day rally, falling 1.8 percent to 508.75 pesos.

Wal-Mart de Mexico SAB de CV (WALMEXV MM), Latin America’s largest retailer, dropped 1.2 percent to 34.79 pesos.

Gruma SAB (GRUMAB MM), Mexico’s largest maker of corn flour for tortillas, declined 3.1 percent to 23.43 pesos. The company was cut to “neutral” from “overweight” at HSBC Holdings Plc, according to a report e-mailed by analyst Pedro Herrera.

Grupo Sports World SAB (SPORTS MM), a Mexican gym operator, advanced for the first time in a month, rising 3.2 percent to 14.2 pesos. The company was rated “buy” in new coverage at Santander, which assigned a target price of 25 pesos by the end of 2011, according to a note e-mailed by analyst Joaquin Ley.

Vitro SAB (VITROA MM), the Mexican glassmaker that defaulted last year on $1.2 billion of bonds, fell 3.2 percent to 12.57 pesos. A creditor group holding about $650 million of defaulted bonds from Vitro said a separate group of investors has confirmed it will oppose the company’s debt exchange offer, according to a statement distributed by Global Newswire.

To contact the reporter on this story: Jonathan J. Levin in Mexico City at jlevin20@bloomberg.net.

To contact the editor responsible for this story: David Papadopoulos at Papadopoulos@bloomberg.net

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.