Mexico Stocks: Grupo Elektra, Gruma Advance; Homex Declines
The following companies are having unusual price changes in Mexico trading. Stock symbols are in parentheses and prices are as of 11:14 a.m. local time.
The IPC index rose 0.6 percent to 36,332.32.
Mexican stocks gained as faster-than-forecast growth in an index of U.S. leading indicators bolstered optimism Mexico’s biggest trading partner will weather Europe’s debt crisis.
Grupo Elektra SA (ELEKTRA* MM), the banking and retail firm controlled by billionaire Ricardo Salinas, climbed 4.3 percent to 1,245.20 pesos. Gruma SAB (GRUMAB MM), Mexico’s largest maker of corn flour for tortillas, rose 1.4 percent to 26.94 pesos.
Homebuilders: Existing home sales in the U.S. may have slipped 2.2 percent to a 4.8 million annual rate in October, according to the median estimate of 50 economists in a Bloomberg survey before a report due Nov. 21.
Desarrolladora Homex SAB (HOMEX* MM), Mexico’s biggest homebuilder, fell 2 percent to 30.08 pesos. Consorcio Ara SAB (ARA* MM) declined 1 percent to 3.96 pesos.
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