Bloomberg News

Mexico Stocks: Empresas Ica, Modelo, TV Azteca, Televisa Drop

January 16, 2012

Jan. 13 (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 2.1 percent to 36,548.56.

Mexican stocks followed global equities lower as France was stripped of its top credit rating by Standard & Poor’s. France’s AAA rating will fall by one level at S&P, Finance Minister Francois Baroin told France 2 television today.

Grupo Modelo SA (GMODELOC MM), Mexico’s largest beer maker, fell 3.1 percent to 84.67 pesos. TV Azteca SAB (AZTECACP MM), Mexico’s second-largest broadcast television network, declined 2.2 percent to 8.81 pesos. Empresas Ica SAB (ICA* MM), the country’s biggest construction company, fell 3.5 percent to 17.41 pesos.

Grupo Televisa SAB (TLEVICPO MM), the world’s largest Spanish-language broadcaster, fell 3.8 percent to 56.22 pesos. Grupo Financiero BBVA Bancomer SA assigned a rating of “underperform” to the shares.

--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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