Mexico Stocks: America Movil, Elektra, Modelo, Walmex Decline
January 25, 2012, 3:24 AM ESTBy Jonathan J. Levin
Jan. 24 (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 0.9 percent to 36,853.30.
Mexican stocks followed U.S. equities lower amid a stalemate between European finance ministers and Greek bondholders over how to resolve the nation’s debt crisis.
Grupo Modelo SA (GMODELOC MM), Mexico’s largest beer maker, fell 2.7 percent to 80.03 pesos. Wal-Mart de Mexico SAB (WALMEXV MM), Latin America’s largest retailer, declined 1.1 percent to 37.99 pesos. America Movil SAB (AMXL MM), the wireless carrier controlled by billionaire Carlos Slim, dropped 1 percent to 15.16 pesos.
Grupo Elektra SA (ELEKTRA* MM), the retail and banking company controlled by billionaire Ricardo Salinas, tumbled 6.7 percent to 1,103.75 pesos. Investors are taking profits after Elektra more than doubled in price in the past year, Juan Jose Gutierrez, an analyst with Bursametrica SA in Mexico City, said in a telephone interview from Mexico City.
--Editors: Glenn J. Kalinoski, 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
