Bloomberg News

Mexico Stocks: Aeromexico, Grupo Famsa, Walmex Shares Advance

November 16, 2011

Nov. 15 (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 climbed 0.6 percent to 37,293.38.

Grupo Aeromexico SAB (AEROMEX* MM), Mexico’s largest airline by passengers, soared 11 percent to 24.79 pesos. Aeromexico said it started buying back shares yesterday as part of a plan approved in August to acquire as much as 600 million pesos ($44 million) of its own stock, according to a filing to the Mexican stock exchange.

Grupo Famsa SAB (GFAMSAA MM), a Mexican retailer, gained 5.7 percent to 12.94 pesos. The company had its recommendation raised to “hold” from “underperform” by Banco Santander SA, according to an e-mailed research note from analysts Joaquin Ley and Paloma Campos, who cited the “severe correction” in the share price.

Retailers: Same-store sales jumped 5.8 percent in October, the biggest increase since July, helped by a 9.4 percent rise in sales at existing department stores, according to a report yesterday from the country’s retail association, known as Antad.

Wal-Mart de Mexico SAB (WALMEXV MM), Latin America’s largest retailer, rose 1.1 percent to 34.97 pesos. Organizacion Soriana SAB (SORIANAB MM), Mexico’s second-largest grocery store chain, gained 2.4 percent to 30.78 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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