Bloomberg News

Mexico Stocks: Elektra Falls; Comerci, Homex, Grupo Bimbo Gain

December 30, 2011

Dec. 30 (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 0.3 percent to 37,077.52. The 35-company index lost 3.8 percent this year.

Grupo Elektra SAB (ELEKTRA* MM), the banking and retail company controlled by billionaire Ricardo Salinas, fell 1.2 percent to 1,385.72 pesos. Mexico’s central bank said bank lending rose 9.7 percent in November from a year earlier.

Retailers gained as consumers shopped for gifts to celebrate Epiphany, or Kings’ Day, on Jan. 6. Controladora Comercial Mexicana SAB (COMERUBC MM) rose 4.4 percent to 23.41 pesos and Wal-Mart de Mexico SAB (WALMEXV MM) gained 0.5 percent to 38.23 pesos.

Some homebuilders and foodmakers rose ahead of a remittances report to be released by Mexico’s central bank on Jan. 2. Money sent back to the country from workers living abroad probably rose to $1.78 billion in November from $1.63 billion a year ago, according to the median estimate from four economists surveyed by Bloomberg.

Desarrolladora Homex SAB (HOMEX* MM), Mexico’s largest homebuilder, rose 4 percent to 39.03 pesos.

Grupo Bimbo SAB (BIMBOA MM), the world’s largest breadmaker, gained 0.8 percent to 28.47 pesos. Gruma SAB (GRUMAB MM), Mexico’s largest maker of corn flour for tortillas, rose 1.9 percent to 26.4 pesos.

--Editors: Jose Enrique Arrioja, David Papadopoulos

To contact the reporters on this story: Crayton Harrison in Mexico City at tharrison5@bloomberg.net;

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


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