Mexico Stocks: Alfa, Autlan, Grupo Modelo Were Active
The following companies had unusual price changes in Mexico City trading. Stock symbols are in parentheses, and prices are as of the close of trading.
The IPC index fell 0.2 percent to 40,108.92.
Mexican stocks fell as signs of U.S. economic weakness damped the outlook for the Latin American country’s exports and on concerns that the nation’s next president, Enrique Pena Nieto, of coalition of the Institutional Revolutionary Party and the Green Party, won’t have a majority in congress to pass legislative changes.
Cia. Minera Autlan SAB (AUTLANB) , North America’s largest manganese producer trading on Mexico’s small- capitalization index, rose 6.5 percent to 15.41 pesos, the highest since March 13. The stock is extending gains after the company reported preliminary higher second-quarter sales and profit on June 29.
Alfa SAB (ALFAA) , whose Nemak unit is the world’s largest independent maker of aluminum engine heads and blocks, fell 3.3 percent to 206.13 pesos. Last week the company completed the purchase of J.L. French Automotive Castings Inc. in a $215 million transaction. Customers of J.L. French, a closely held producer of aluminum components based in Sheboygan, Wisconsin, include General Motors Co. (GM) and Ford Motor Co.
Grupo Modelo SAB (GMODELOC) was little changed at 118.11 pesos, 0.1 percent lower than Friday’s closing price. Raymond James raised the Mexico City-based brewer to the equivalent of hold from underperform.
To contact the editor responsible for this story: David Papadopoulos at email@example.com