Bloomberg News

Mexico Stocks: Axtel, Oma, Grupo Famsa, Genomma Lab Were Active

February 24, 2012

Feb. 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 0.2 percent to 37,945.22.

Axtel SAB (AXTELCPO MM), Mexico’s second-largest land-line phone company, fell 4.2 percent to 4.56 pesos. Axtel posted a fourth-quarter loss of 1.1 billion pesos ($85.2 million). The company will have capital spending of $120 million this year, including $70 million to install more fiber-optic cables to increase Internet speeds, Chief Financial Officer Felipe Canales said today on a conference call.

Grupo Aeroportuario del Centro Norte Sab de CV (OMAB MM), the operator of airports in northern Mexico, increased 4.9 percent to 26.79 pesos after reporting fourth-quarter profit that beat forecasts. “They’re diversifying their strategy so as not to depend so much” on passenger numbers, said Aldo Miranda, a trader at Intercam Casa de Bolsa SA, which manages about 1 billion pesos in equities.

Grupo Famsa SAB (GFAMSAA MM), a Mexican retailer, declined 7.9 percent to 11.87 pesos, its biggest one-day drop since September. Declining sales in the U.S. contributed to a 26 percent drop in fourth-quarter net income to 115 million pesos.

Genomma Lab Internacional SAB (LABB MM), the Mexican producer of over-the-counter drugs, fell 7.3 percent to 23.41 pesos. The company may be willing to raise its bid to acquire Prestige Brands Holdings Inc., a Genomma executive said today on a conference call.

--Editors: Brendan Walsh, David Papadopoulos

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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