Bloomberg News

Mexico Stocks: Cemex Surges; Axtel, Grupo Televisa, Decline

October 13, 2011

Oct. 13 (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 advanced 0.3 percent to 34,584.75.

Axtel SAB (AXTELCPO MM), Mexico’s second-largest land- line phone company, declined 0.6 percent to 5.05 pesos after dropping as much as 7.9 percent earlier today. The company was rated “underweight” in new coverage by Barclays Capital, which has a price target of 5.50 pesos per share.

America Movil SAB (AMXL MM), the wireless carrier controlled by billionaire Carlos Slim, rose 0.6 percent to 15.71 pesos, the highest in three weeks. The company was rated “overweight” in new coverage by Barclays Capital. The brokerage has a price target of $28 per American depositary receipt.

Cemex SAB (CEMEXCPO MM), the largest cement maker in the Americas, gained 9 percent to 4.96 pesos after falling as much as 5.9 percent earlier today. The stock has gained 27 percent over the past two sessions. The company said it had nothing to disclose regarding the share move in a statement to the Mexican stock exchange.

Grupo Televisa SA (TLEVICPO MM), the world’s largest Spanish-language broadcaster, dropped 1.7 percent to 52.92 pesos. The company was rated “underweight” in new coverage by Barclays, which has a price target of $21 per American depositary receipt.

TV Azteca SAB (AZTECACP MM), Mexico’s second-largest broadcast television network, gained 0.5 percent to 7.48 pesos. The company was rated “equalweight” in new coverage by Barclays, which has a price target of 9.00 pesos per share.

--Editor: Marie-France Han

To contact the reporter on this story: Katia Porzecanski in New York at kporzecansk1@bloomberg.net

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


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