Bloomberg Anywhere Login


Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.


Financial Products

Enterprise Products


Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000


Industry Products

Media Services

Follow Us

Geo Falls to Nine-Year Low as Mexico Builders Drop Fourth Day

March 12 (Bloomberg) -- Corp. Geo SAB led Mexican homebuilders lower after an industry conference failed to address investor and analysts concerns that the companies face increased cash needs with limited ability to borrow more.

Geo, the country’s third-biggest publicly-traded homebuilder, fell 3.9 percent to 9.60 pesos today in Mexico City trading, the lowest price since September 2003. Urbi Desarrollos Urbanos SAB declined 2.3 percent to a record-low 3.79 pesos and Desarrolladora Homex SAB dropped 1.5 percent to 25.12 pesos.

The four-day conference in New York and London left investors and analysts with “a bad feeling,” said Javier Gayol, an analyst with Corporativo GBM SAB in Mexico City who rates Geo, Homex and Urbi at the equivalent of sell.

“They did not tell us how they are going to get out of the liquidity issues they have,” Gayol said today. “We have no hopes of seeing further de-leveraging for the companies.”

To contact the reporter on this story: Danielle Verbrigghe in New York at

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

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.