Bloomberg News

Mexico Stocks: Axtel, Compartamos, Industrias Penoles Are Active

March 01, 2012

The following companies had unusual price changes in Mexico trading. Stock symbols are in parentheses and prices are as of 3 p.m. Mexico City time.

The IPC index rose 0.6 percent to 38,033.45.

Compartamos SAB (COMPARC*) (COMPARC* MM), the holding company that controls low-income lender Banco Compartamos SA, slipped 1.6 percent to 14.17 pesos. Compartamos has dropped in every session since its Feb. 27 earnings report, when its 469 million pesos ($36.8 million) in fourth-quarter net income missed the estimate of Banco Santander SA.

Axtel SAB (AXTELCPO) , Mexico’s second-largest land-line phone company, gained 1.9 percent to 4.37 pesos. Press reports saying a recent Supreme Court decision could cost Axtel money sent the “wrong message” and stock price declines resulting from the reports may make it “more attractive,” Santander said in a report dated today.

Industrias Penoles SAB (PE&OLES*) (PE&OLES* MM), Mexico’s largest silver producer, gained 2.4 percent to 652.63 pesos. Silver futures for May delivery rose in New York.

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


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