Mexico Stocks: Urbi Desarrollos, Cemex, Homex, Penoles
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 1 percent to 38,434.51.
Construction-related companies led Mexican stocks higher on speculation recent declines were overdone, said Carlos Gonzalez, an analyst with Monex Casa de Bolsa in Mexico City. The Habita index of six homebuilders trades at 8.47 times trailing 12-month earnings, down from a peak this year of 9.46 on Feb. 13.
Urbi Desarrollos Urbanos SAB (URBI*) , Mexico’s third- largest homebuilder, rose 4.1 percent to 14.85 pesos. Desarrolladora Homex SAB (HOMEX*) , the nation’s largest homebuilder, climbed 3.1 percent to 40.96 pesos. Cemex SAB (CEMEXCPO) , the largest cement maker in the Americas, jumped 4 percent to 10.33 pesos.
Industrias Penoles SAB (PE&OLES*) (PE&OLES* MM), Mexico’s largest silver producer, rose 3.4 percent to 619.77 pesos as silver futures for May delivery gained as much as 1.8 percent.
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