Bloomberg News

Mexico Stocks: Cemex, Organizacion Soriana, Grupo Mexico Advance

January 31, 2012

Jan. 31 (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 rose 0.5 percent to 37,422.68.

Mexican stocks rose after the Finance Ministry said that Mexico’s economy probably grew 3.7 percent in the fourth quarter from a year earlier and 4.0 percent in 2011 in an e-mailed statement yesterday after trading hours.

Genomma Lab Internacional SAB (LABB MM), the Mexican producer of over-the-counter drugs, gained 3.2 percent to 28.59 pesos. Organizacion Soriana SAB (SORIANAB MM), Mexico’s second- largest grocery store chain, advanced 2.6 percent to 32.70 pesos. Gruma SAB (GRUMAB MM), Mexico’s largest maker of corn flour for tortillas, increased 2.3 percent to 28.84 pesos.

Cemex SAB (CEMEXCPO MM), the largest cement maker in the Americas, rose 1.5 percent to 8.83 pesos. Bank of America upgraded Cemex’s American depositary receipts (CX) to “buy” from “neutral” in a research note from Jan. 30. Bank of America said Cemex “has more than a 50 percent probability” of raising $1.5 billion or more through assets sales in the next few months to pay its bank debt.

Grupo Mexico SAB (GMEXICOB MM), the nation’s largest mining company, gained 1.5 percent to 41.51 pesos. Mexico’s November copper production nearly doubled from a year earlier, the national statistics agency reported on its website today. Grupo Mexico ramped up production to full capacity at the Buenavista del Cobre mine last year after almost three years of strikes by miners.

--Editor: Jonathan Roeder

To contact the reporter on this story: Christine Jenkins in New York at cjenkins28@bloomberg.net;

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


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