Bloomberg News

Mexico Stocks: Kimberly-Clark de Mexico, Axtel Shares Retreat

November 07, 2011

Nov. 4 (Bloomberg) -- The following companies had unusual price changes in Mexico trading. Stock symbols are in parentheses and prices are as of the close of markets.

The IPC index rose 0.3 percent to 36,689.38.

Consumer-driven companies slipped after the Group of 20 failed to agree on boosting the International Monetary Fund’s resources.

Kimberly-Clark de Mexico SAB (KIMBERA MM), Mexico’s biggest consumer-products company, fell 1 percent to 74.06 pesos. Wal- Mart de Mexico SAB (WALMEXV MM), Latin America’s largest retailer, fell 0.6 percent to 34.69 pesos.

Axtel SAB (AXTELCPO MM), Mexico’s second-largest land-line phone company, fell 1.6 percent to 4.23 pesos. Risk aversion is exacerbating losses after Axtel lowered its free cash-flow projection to negative $15 million-to-$20 million in 2011, down from a previous forecast to break even, according to Martin Lara, an analyst at Corp. Actinver SAB in Mexico City.

--Editors: Richard Richtmyer, Glenn J. Kalinoski

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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