Bloomberg News

Mexico Stocks: Ara, ICA, Grupo Mexico Decline; Televisa Gains

October 20, 2011

Oct. 20 (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 fell 0.4 percent to 34,395.50.

Most Mexican stocks followed the peso lower as France and Germany wrangled over proposals to tackle Europe’s debt crisis.

Consorcio Ara SAB (ARA* MM), a Mexican homebuilder, declined 2.9 percent to 3.64 pesos. Empresas ICA SAB (ICA* MM), the country’s biggest construction company, dropped 2.7 percent to 14.78 pesos.

Grupo Mexico SAB (GMEXICOB MM), the country’s largest mining company, fell 2.3 percent to 34.06 pesos. Copper futures for December delivery declined as much as 7 percent in New York.

Grupo Televisa SA (TLEVICPO MM), the world’s largest Spanish-language broadcaster, gained 4.2 percent to 54.92 pesos, the highest in more than three months. Third-quarter advertising sales in the broadcast division, Televisa’s largest unit, rose 2.4 percent to 6 billion pesos ($434.9 million), compared with the estimate of 5.95 billion pesos by Gregorio Tomassi, an analyst at Banco Santander SA. Advertising sales had declined from a year earlier in the previous two quarters.

--Editors: Glenn J. Kalinoski, Marie-France Han

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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