Mexico Stocks: Grupo Bimbo, Industrias Penoles, Urbi Desarrollos
The following companies are having unusual price changes in Mexico trading. Stock symbols are in parentheses and prices are as of 12:31 p.m. local time.
The IPC index fell 0.1 percent to 36,657.67.
Grupo Bimbo SAB (BIMBOA MM), the world’s largest bread maker, rose 0.1 percent to 27.16 pesos after earlier rising as much as 1 percent. The Mexico City-based company said today it completed the acquisition of Sara Lee’s North American bakeries and is integrating the revenue from that unit, according to a statement to the stock exchange.
Industrias Penoles SAB (PE&OLES* MM), Mexico’s largest silver producer, advanced 0.6 percent. Silver futures for December delivery gained 2 percent to $34.755 an ounce. Gold futures for December delivery rose 2 percent to $1,792, a six- week high, as Europe’s escalating sovereign-debt crisis spurred demand for a haven.
Urbi Desarrollos Urbanos SAB (URBI* MM), Mexico’s third- largest homebuilder, rose as much as 2 percent to 17.15 pesos. Moody’s upgraded the company’s national scale long-term issuer rating to A3 from Baa1 and assigned an A3 national scale rating to its proposed 1 billion peso ($74.3 million) bond issuance.
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