Bloomberg News

Mexico Stocks: Mexichem, Elektra, Comercial Chedraui Were Active

March 26, 2012

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 1.4 percent to 38,863.15, a record.

Mexichem SAB (MEXCHEM*) , the chemical producer that has bought more than 15 companies since 2007, gained 2.6 percent to 48.54 pesos. Banco Santander SA (SAN) said it expects the company to “positively surprise” in the next two quarters and reiterated its “buy” recommendation, according to an e-mailed research note.

Retail companies were among the biggest gainers in Mexico after U.S. Federal Reserve Chairman Ben S. Bernanke said that accomodative monetary policy is still needed to spur jobs.

Grupo Elektra SAB (ELEKTRA*) , the retail and banking company controlled by billionaire Ricardo Salinas, rose 4.6 percent to 1,176.63 pesos. Grupo Comercial Chedraui SAB (CHDRAUIB) , the supermarket chain based in Xalapa, Mexico, rose 2 percent to 33.61 pesos.

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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