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Mexican Stocks: Bolsa, Penoles Shares Advance; Telmex Retreats

May 30 (Bloomberg) -- The following companies had unusual price changes in Mexico trading. Stock symbols are in parentheses and prices are as of 4 p.m. New York time.

The IPC index dropped 0.5 percent to 35,639.38.

Bolsa Mexicana de Valores SAB (BOLSAA MM), the operator of Mexico’s securities exchange, rose 0.7 percent to 24.74 pesos. Elementia SA plans to raise about $400 million in an initial public offering, newspaper El Semanario reported, citing Antonio del Valle, chairman of the controlling Grupo Empresarial Kaluz SA.

Industrias Penoles SAB (PE&OLES* MM), Mexico’s second-largest mining company, climbed 0.8 percent to 437.23 pesos. Silver futures for July delivery rose as much as 1.4 percent to $38.395 an ounce on the Comex in New York.

Telefonos de Mexico SAB (TELMEXL MM) retreated 6.4 percent to 10.17 pesos. Mexico’s biggest phone company had its request for a license to offer pay-TV service rejected by the government, according to a statement e-mailed after markets closed on May 27 from the Communications and Transportation Ministry.

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

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