Bloomberg News

Mexico Stocks: Axtel, Maxcom, Ica, Ara, Urbi Desarrollos Advance

February 14, 2012

Feb. 13 (Bloomberg) -- The following companies are having unusual price changes in Mexico trading. Stock symbols are in parentheses and prices are as of 1:17 p.m. local time.

The IPC index rose 0.3 percent to 38,256.12.

Homebuilders and construction companies advanced after a government report showed construction activity grew at an annual rate of 3.6 percent in December, leading gains along with manufacturing in Mexico’s gauge of industrial production.

Empresas Ica SAB (ICA* MM), the country’s biggest construction company, jumped 7.3 percent to 24.03 pesos. Consorcio Ara SAB (ARA* MM), a Mexican homebuilder, gained 7.8 percent to 4.68 pesos. Homebuilder Urbi Desarrollos Urbanos SAB (URBI* MM) rose 2.2 percent to 20.75 pesos.

Axtel and Maxcom gained on speculation that the government may increase the limit on foreign investment in fixed-line networks, said Juan Jose Resendiz, an analyst with Casa de Bolsa Arka in Mexico City, in a telephone interview.

Axtel SAB (AXTELCPO MM), Mexico’s second-largest land-line phone company, climbed 8.1 percent to 5.48 pesos. Maxcom Telecomunicaciones SAB (MAXCOMCP MM), the fifth-largest land- line phone carrier in Mexico, rose 8.3 percent to 3.77 pesos.

Grupo Herdez SAB de CV (HERDEZ* MM), a Mexican packaged- food producer, gained 1.2 percent to 26.20 pesos. The company was rated “overweight” at HSBC by analyst Enrique Gomez-Tagle.

--Editors: Glenn Kalinoski, Brendan Walsh

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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