Mexico Stocks: Cemex, Corp. Geo, Industrias Penoles Shares Gain

Nov. 28 (Bloomberg) -- The following companies had unusual price changes in Mexico trading. Stock symbols are in parentheses and prices are as of the close of trading.

The IPC index surged 2.8 percent to 35,558.18.

Mexican stocks soared, snapping a four-day slide and following U.S. equities higher as euro-area leaders were said to boost efforts to end the debt crisis.

German newspaper Welt am Sonntag reported German Chancellor Angela Merkel and French President Nicolas Sarkozy are discussing an agreement under which member states will commit to tighter budget discipline without waiting for treaty changes. The newspaper did not say where it got the information.

Cemex SAB (CEMEXCPO MM), the largest cement maker in the Americas, soared 14 percent to 5.73 pesos. Corp. Geo SAB (GEOB MM), Mexico’s second-largest homebuilder, rose 5.7 percent to 14.97 pesos.

Industrias Penoles SAB (PE&OLES* MM), Mexico’s largest silver producer, gained 5 percent to 589.87 pesos. Silver futures for March delivery rose as much as 4.1 percent to $32.365 an ounce.

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

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