Bloomberg News

Mexico Stocks: Cemex, OHL Mexico, Mexichem Slip; Homex Advances

December 06, 2011

Dec. 6 (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 0.1 percent to 37,071.17.

Mexican stocks declined as Standard & Poor’s put 15 euro- area nations on watch for potential rating downgrades.

Cemex SAB (CEMEXCPO MM), the largest cement maker in the Americas, fell 0.7 percent to 6.76 pesos. OHL Mexico SAB (OHLMEX* MM), the Mexican unit of Spanish construction company Obrascon Huarte Lain SA, fell 1.7 percent to 22.36 pesos.

Desarrolladora Homex SAB (HOMEX* MM), Mexico’s largest homebuilder, rose 7.8 percent to 29.17 pesos. Homex expects 2012 sales to rise 37 percent to 39 percent, including contracts with the federal government to build prisons, according to a statement yesterday to the Mexican stock exchange.

Mexichem SAB (MEXCHEM* MM), Latin America’s biggest maker of plastic pipes, fell 1.1 percent to 46.86 pesos. Mexichem raised its offer to 457 million euros ($612.2 million) to gain “friendly” support to buy Wavin NV, the Tlalnepantla, Mexico- based company said today in a statement. Later, Wavin said the offer was “unacceptable,” according a separate statement distributed by Thomson Reuters One.

--Editors: Marie-France Han, 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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