Bloomberg News

Mexico Stocks: Wal-Mart de Mexico, Soriana Advance; Cemex Drops

February 22, 2012

Feb. 22 (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 0.1 percent to 37,912.55.

Retail and grocery store chains gained after a report showed Mexico’s retail sales rose 3.5 percent in December from a year earlier, a sign that “domestic consumption held up a good growth rate at the end of 2011,” Eduardo Gonzalez, an economist at Citigroup Inc.’s Banamex unit, said in a research note today.

Wal-Mart de Mexico SAB (WALMEXV MM), Latin America’s largest retailer, increased 2.1 percent to 40.42 pesos. Grupo Comercial Chedraui SA (CHDRAUIB MM), the supermarket chain based in Xalapa, Mexico, rose 1.3 percent to 33.03 pesos. Organizacion Soriana SAB (SORIANAB MM), Mexico’s second-largest grocery store chain, gained 1.1 percent to 34.31 pesos.

Cemex SAB (CEMEXCPO MM), the largest cement maker in the Americas, fell 2.2 percent to 10.31 pesos. Cemex agreed to buy the shares it doesn’t already own in Readymix Plc, an Irish cement distributor, for 0.25 euros a share, valuing the bid at 27.4 million euros ($36.3 million). The acquisition price represents a 13.6 percent premium over Readymix’s closing price on Feb. 21, according to a statement by Readymix.

--Editors: Glenn Kalinoski, 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


Coke's Big Fat Problem
LIMITED-TIME OFFER SUBSCRIBE NOW

(enter your email)
(enter up to 5 email addresses, separated by commas)

Max 250 characters

 
blog comments powered by Disqus