Bloomberg News

Mexico Stocks: Bolsa Mexicana, Cemex, Comercial Chedraui Gain

October 12, 2011

Oct. 12 (Bloomberg) -- 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 2.3 percent to 34,470.36.

Bolsa Mexicana de Valores SAB (BOLSAA MM), the operator of Mexico’s securities exchange, advanced 1.5 percent to 21.75 pesos, its sixth straight day of gains. The company had its recommendation raised to “outperform” from “underperform” today at Grupo Financiero BBVA Bancomer SA.

Cemex SAB (CEMEXCPO MM), the largest cement maker in the Americas, jumped 16.4 percent to 4.55 pesos. There is short interest on 84.3 million ADRs, the highest level since 88.3 million in March 2009, according to Bloomberg data. Investors sought to get out of their short positions, which added to a rally that began amid a global market rebound this week, said Benjamin Theurer, a Barclays Bank Plc analyst in Mexico City, in a telephone interview.

Grupo Aeroportuario del Pacifico SAB (GAPB MM), the operator of airports in the Pacific and central regions of Mexico, gained 1.3 percent to 46.38 pesos. Tropical Storm Jova weakened as it moved across western Mexico with 50-mile-per-hour winds and heavy rain, the U.S. National Hurricane Center said.

Retail: Mexico’s same-store retail sales rose 5.4 percent in September compared with a year earlier, the country’s retail association, known as Antad, said today.

Grupo Comercial Chedraui SA (CHDRAUIB MM), the supermarket chain based in Xalapa, Mexico, advanced 5 percent to 34.93 pesos. Grupo Elektra SA (ELEKTRA* MM), the retail and banking company controlled by billionaire Ricardo Salinas, advanced 5.4 percent to 1,048.73 pesos.

--Editors: Glenn J. Kalinoski, Richard Richtmyer

To contact the reporter on this story: Jonathan J. Levin in Mexico City at jlevin20@bloomberg.net

To contact the editor responsible for this story: David Papadopoulos at papadopoulos@bloomberg.net


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