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Mexico Stocks: ICA, Penoles, Minera Frisco, Grupo Mexico, Gruma

Dec. 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 fell 1.2 percent to 36,644.86, its biggest decline since Dec. 19.

Mexican mining companies declined on prospects for lower demand in India and China. Oil, copper, gold and silver prices fell. Retailers also declined.

Industrias Penoles (PE&OLES* MM), the nation’s biggest silver producer, fell 2.2 percent to 599.94 pesos after the metal declined 5.5 percent to $27.115 an ounce.

Minera Frisco (MFRISCOA MM), the mining company controlled by billionaire Carlos Slim, retreated 2.4 percent to 50.09 pesos. Grupo Mexico SAB (GMEXICOB MM), the country’s largest mining company, fell 1.4 percent to 36.63 pesos.

Empresas ICA (ICA* MM), Mexico’s largest construction company, dropped 3.7 percent to 17.12 pesos. ICA has teamed up with Irving, Texas-based Fluor Corporation to bid on the building of a $9 billion refinery in central Mexico, daily newspaper El Universal reported.

Gruma SAB (GRUMAB MM), Mexico’s largest maker of corn flour for tortillas, fell for second day, losing 0.6 percent to 25.93 pesos. Corn for March delivery rose 1.5 percent to $6.4250 a bushel on the Chicago Board of Trade, an eighth straight gain.

To contact the reporter on this story: Jose Enrique Arrioja in Mexico City at jarrioja@bloomberg.net

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

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