The following companies are having unusual price changes in Mexico City trading. Stock symbols are in parentheses, and prices are as of 10:53 a.m. local time.
The IPC index fell 0.6 percent to 40,118.75.
Sare Holding SAB (SAREB MM), a Mexican homebuilder, surged 11 percent to 1.64 pesos, the most on the IRT Small Capitalization index. Beamonte Investments Inc. plans to make a bid to buy Sare as soon as July 18, Luis Trevino, managing director for Latin America at the Boston-based private equity company, said in a telephone interview yesterday.
America Movil SAB (AMXL MM) fell 1 percent to 17.38 pesos, after earlier dropping as much as 2.1 percent in the steepest intraday decline since June 1. The company’s Telmex unit may have to wait until 2014 for a legal decision on its request for a license to offer pay-television service in Mexico, the newspaper Reforma said, citing a lawyer specializing in telecommunications.
Pochteca SAB (POCHTECB MM), the Mexico City-based distributor of industrial greases and solvents, climbed 8.4 percent to 2.59 pesos. Antonio del Valle, who invested in a 300 million peso capital increase for the company in April, said the company would pursue acquisition-driven growth in a June 21 telephone interview from Mexico City.