Mexican Stocks: Desarrolladora Homex, Inbursa, Minera Frisco
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 rose 0.4 percent to 33,681.80.
Desarrolladora Homex SAB (HOMEX* MM), Mexico’s largest homebuilder, advanced 1.2 percent to 30.11 pesos as Scotia Capital equity analyst Marcos Duran Y Casahonda raised its shares to “sector outperform” from “sector perform” with a 12-month target price of 49 pesos.
Minera Frisco SAB (MFRISCOA MM), the mining company controlled by billionaire Carlos Slim, fell 3 percent to 48.17 pesos as gold futures for December delivery declined 0.6 percent to settle at $1,661 an ounce on the Comex in New York. Earlier, the metal reached $1,686.70, the highest since Sept. 23.
Grupo Financiero Inbursa (GFINBURO MM), the financial services firm controlled by Slim, gained 3.4 percent to 24.56 pesos as optimism about U.S. corporate earnings overshadowed concern about Europe’s debt crisis.
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