Bloomberg News

Mexico Stocks: Aeromexico, Sports World Gain; Grupo Mexico Drops

January 09, 2012

Jan. 9 (Bloomberg) -- The following companies are having unusual price changes in Mexico trading. Stock symbols are in parentheses and prices are as of 12:07 p.m. in Mexico City.

The IPC index fell 0.4 percent to 36,655.89.

Grupo Mexico SAB (GMEXICOB MM), the country’s largest mining company, fell 0.2 percent to 36.71 pesos. The company had its recommendation cut to “hold” from “buy” by analysts led by Rodrigo Barros in a Jan. 8 Deutsche Bank AG report, which cited “industry challenges” including higher operating costs.

Grupo Aeromexico SAB (AEROMEX* MM), Mexico’s largest airline by passengers, headed for its ninth gain in 10 days, advancing 0.8 percent to 23.84 pesos. Oil declined for a third day as German industrial output declined, signaling cheaper fuel costs that may spur air travel.

Grupo Sports World SAB (SPORTS MM), a Mexican gym operator, climbed 1 percent to 12.73 pesos. The company’s revenue will increase 50 percent in 2012 from the previous year because of new openings and a projected pickup in memberships, according to a statement to the Mexican stock exchange.

--Editors: Glenn J. Kalinoski, Marie-France Han

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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