Comercial Mexicana Surges on MSCI Inclusion: Mexico City Mover
Controladora Comercial Mexicana SAB (COMERUBC), a Mexican supermarket chain, rose the most in five months after being included in the MSCI Mexico Index.
The Mexico City-based retailer climbed 5.3 percent, the most since June 14, to 39.44 pesos. Steelmaker Industrias CH SAB (ICHB), which will also be added to the index, gained 5 percent, the most in three months, to 81.79 pesos.
Petrochemical company Alpek SAB (ALPEKA), a publicly-traded unit of San Pedro Garza Garcia, Mexico-based Alfa SAB (ALFAA), increased 5.7 percent to 33.78 pesos after the announcement that it will be included in the gauge, making it the top gainer on the benchmark IPC index of 35 Mexican stocks. That was its largest one-day increase since going public in April.
“The index is a sample portfolio and being included in it should in principle make demand for these shares grow,” Gerardo Copca, an analyst with research company Metanalisis SA, said in a telephone interview from Mexico City.
The three companies will gain inclusion in the MSCI index as of the Nov. 30 market close, MSCI Inc. said in a statement on its website. Grupo Aeroportuario del Pacifico SAB will also be added to MSCI’s Mexico index. The airport operator fell 0.8 percent to 62.54 pesos.
There were no deletions from MSCI’s Mexico index.
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