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Mexico Stocks: Genomma Lab, Sare Holding, Penoles Are Active

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March 14 (Bloomberg) -- The following companies had unusual price changes in Mexico trading. Stock symbols are in parentheses and prices are as of 2 p.m. local time.

The IPC index fell 0.1 percent to 37,971.44.

Genomma Lab Internacional SAB (LABB MM), the Mexican producer of over-the-counter drugs, reversed earlier losses and jumped 2.9 percent to 24.67 pesos. Chief Financial Officer Oscar Villalobos said the company has no plans to raise its offer to buy Prestige Brands Holdings Inc., according to a telephone interview today from New York.

Grupo Aeroportuario del Pacifico SAB (GAPB MM), Mexico’s biggest publicly traded airport operator by sales, rose 1.9 percent to 49.05 pesos. The company said a ruling by a Mexican federal court was “in favor” of its efforts to stop Grupo Mexico SAB, a Mexico City-based mining and transportation company, from boosting its holdings of the airport operator. Grupo Mexico (GMEXICOB MM) slipped 0.1 percent to 40.80 pesos.

Industrias Penoles SAB (PE&OLES* MM), Mexico’s largest silver producer, fell 1.9 percent to 613.70 pesos as silver futures for May delivery retreated in New York.

Sare Holding SAB (SAREB MM), the country’s worst performing homebuilder since its Feb. 27 earnings, fell 2.1 percent to 1.37 percent. Fitch Ratings cut the company’s national scale rating to B- from BB- yesterday.

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