Bloomberg News

Mexico Stocks: Grupo Financiero Banorte, Alfa, Cemex Advance

January 02, 2012

Jan. 2 (Bloomberg) -- The following companies had unusual price changes in Mexico trading. Stock symbols are in parentheses and prices are as of 10:03 a.m. in Mexico City.

The IPC index rose 0.4 percent to 37,238.35.

Grupo Financiero Banorte (GFNORTEO MM), the nation’s third largest bank by outstanding loans, gained 0.8 percent to 42.64 pesos after Mexico’s central bank said remittances rose 8.9 percent in November, compared with the same month in 2010, to $1.77 billion.

Alfa SAB (ALFAA MM), the world’s largest producer of aluminum engine heads, gained 1 percent to 153.5 pesos. The Institute for Supply Management’s factory index climbed to a six-month high of 53.4 in December, economists surveyed by Bloomberg projected ahead of a Jan. 3 report. Readings above 50 indicate expansion.

Cemex SAB (CEMEXCPO MM), America’s largest cement maker, advanced 0.4 percent to 7.48 pesos. U.S. construction spending probably rose 0.4 percent in the month of November, according to the 37 economists surveyed by Bloomberg. The index, released by the U.S. Commerce Department, rose 0.8 percent in October.

--Editor: Marie-France Han

To contact the reporters on this story: Jose Enrique Arrioja in Mexico City at jarrioja@bloomberg.net; 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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