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Mexican Stocks: Gruma, Grupo Financiero Inbursa, Mexichem

Sept. 13 (Bloomberg) -- The following companies are having unusual price changes in Mexico trading. Stock symbols are in parentheses and prices are as of 12:24 p.m. New York time.

The IPC index rose 0.2 percent to 33,855.91.

Gruma SAB (GRUMAB MM), the largest maker of corn flour for tortillas in Mexico, gained 2 percent to 22.70 pesos as investors bought shares in a company that had lost 12 percent from Aug. 1 through yesterday, said Leon Cabrera, a trader at Mexico City-based Vanguardia Casa de Bolsa.

Grupo Financiero Inbursa (GFINBURO MM), the financial services firm controlled by billionaire Carlos Slim, declined 2.2 percent to 25.03 pesos on concern about the financial stability of European banks, said Cabrera. Criteria CaixaCorp SA, the holding company for Spain’s La Caixa savings-bank group, holds a 20 percent stake in Inbursa.

Mexichem SAB (MEXCHEM* MM), the largest maker of plastic pipes in Latin America, advanced 1.6 percent to 47.12 pesos as French banks dismissed concerns over their access to funds, helping to limit “worries about contagion in global markets,” said Carlos Hermosillo, director of analysis at Grupo Financiero Banorte SAB. Mexichem owns plants in South America and the U.S.

To contact the reporter on this story: Leon Lazaroff in New York at

To contact the editor responsible for this story: David Papadopoulos at

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